ANCHORAGE, Alaska – In connection with ConocoPhillips’ second-quarter 2023 earnings announced earlier today, ConocoPhillips Alaska reported net income of $372 million in the second quarter of 2023.
During the quarter, ConocoPhillips Alaska incurred an estimated $413 million in taxes and royalties, which includes $293 million to the State of Alaska and $120 million to the federal government.
Additionally, in the second quarter of 2023, ConocoPhillips Alaska invested $363 million in capital in the state.
“Alaska’s existing fiscal regime provides stability for continued industry investment in the state. ConocoPhillips Alaska has spent more than $700 million in the first half of 2023, an increase in capital activity from 2022,” said Erec Isaacson, president, ConocoPhillips Alaska.
“For more than 50 years, ConocoPhillips Alaska has invested in Alaska and developed meaningful community partnerships. We look forward to future decades of progress through continued growth and investment.”
Since 2007, ConocoPhillips Alaska has incurred more than $43 billion in taxes and royalties to the State of Alaska and the federal government. Of that amount, about $33 billion went directly to the state. In that same period, ConocoPhillips Alaska’s earnings were approximately $25 billion.
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About ConocoPhillips Alaska
ConocoPhillips Alaska has been leading the search for energy in Alaska for more than 50 years. The company is committed to responsibly developing Alaska’s resources, providing economic opportunity for Alaska, operating at the highest safety standards and being good stewards of our communities. For more information, visit www.conocophillipsalaska.com.
Contacts
Rebecca Boys (Alaska)
907-263-4115
rebecca.a.boys@conocophillips.com
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