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ConocoPhillips Resumes Natural Gas Drilling Off Australia

By Ross Kelly SYDNEY--A natural gas exploration and appraisal campaign offshore northern Australia led by ConocoPhillips (COP) is back on track after technical problems with well safety equipment were addressed, partner Karoon Gas Australia Ltd. (KAR.AU) said Friday. Drilling of the Boreas-1 well was held up after its blowout preventer malfunctioned. Blowout preventers sit on the ocean floor and are designed to control oil and gas wells and prevent leaks. Their integrity has come under greater scrutiny following the Montara oil spill offshore northern Australia and the much larger Macondo spill in the Gulf of Mexico. Blowout preventer "troubleshooting and function testing was completed satisfactorily" and the Boreas-1 well's casing was successfully pressure tested, Karoon said in a statement. The pair are attempting to prove up enough gas to support a possible expansion of the Darwin gas-export plant, or construction of a new standalone export facility. At 0243 GMT, Karoon shares were up 4.5% at A$4.41. -By Ross Kelly, Dow Jones Newswires; 61-2-8272-4692; Ross.Kelly@dowjones.com Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stock News for Conocophillips (COP)
DateTimeHeadline
07/25/201603:46:00Highlands Natural Resources to Pay $500,000 for Rights to Drill...
07/22/201614:21:00Despite Optimism, Oil Firms Keep Cutting Jobs
07/21/201619:40:00ConocoPhillips to Lay Off Another 1,000 Energy Workers -- Update
07/21/201619:20:00ConocoPhillips to Lay Off Another 1,000 Energy Workers
07/21/201619:12:00ConocoPhillips to Lay Off Another 1,000 Energy Workers
07/13/201618:35:00Woodside to Buy ConocoPhillips' Senegal Oil Assets for Up to...
07/13/201618:20:00ConocoPhillips Announces Intended Sale of Exploration Blocks...
07/13/201611:10:00ConocoPhillips Announces Quarterly Dividend
07/07/201616:20:00Obama Administration Issues Final Arctic Drilling Regulation
07/07/201616:09:00Obama Administration Issues Final Arctic Drilling Regulation
07/07/201613:00:00ConocoPhillips to Hold Second-Quarter Conference Call on Thursday...
07/05/201614:15:11Statement of Changes in Beneficial Ownership (4)
07/05/201614:13:02Statement of Changes in Beneficial Ownership (4)
07/05/201614:10:42Statement of Changes in Beneficial Ownership (4)
07/05/201614:07:54Statement of Changes in Beneficial Ownership (4)
07/01/201612:40:00Williams Announces Board Departures
06/21/201614:31:21Annual Report of Employee Stock Plans (11-k)
06/14/201608:45:00Norway Approves Statoil's $981 Million Plan to Develop Reserves
06/02/201612:10:18Statement of Changes in Beneficial Ownership (4)
06/02/201611:58:55Statement of Changes in Beneficial Ownership (4)

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