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ConocoPhillips (NYSE:COP): Closing price $58.39
The oil major intends to drill as many as two exploration wells in remote Arctic area in 2014, and is undeterred by several setbacks suffered there by rival Royal Dutch Shell, said a Conoco official on Thursday. The company is taking aim at a prospect named Devils Paw in the Chukchi Sea, according to Mike Faust, the Chukchi program manager, in a comment at the National Oceanic and Atmospheric Administration’s annual Arctic Open Water Meeting. Faust added that ConocoPhillips’ exploration plan is under review by the Bureau of Ocean Energy Management; the company expects to submit additional information next week.
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