General News | Top Story | Exploration & Appraisals | Well Results - Negative / Dry Hole
Conoco Officially Discontinues Louisiana Austin Chalk Ops
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ConocoPhillips reported that it has discontinued exploration activities in the Central Louisiana Austin Chalk trend.
This comes after the company announced that its results in the play were disappointing.
The company will record approximately $120 million pre-tax to Lower 48 dry hole expense in the third quarter, primarily related to this play. The company also expects to record a non-cash leasehold impairment related to the acreage.
| Category | 2023 | 2024Est. Initial | Updated 2024 Guidance | %Difference (2023 vs 2024) |
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