ANCHORAGE, Alaska – In connection with ConocoPhillips’ first-quarter 2022 earnings announced earlier today, ConocoPhillips Alaska reported the following 2022 earnings.
ConocoPhillips Alaska reported net income of $584 million in the first quarter of 2022. During this time, ConocoPhillips Alaska incurred an estimated $702 million in taxes and royalties, which includes $524 million to the State of Alaska and $178 million to the federal government.
Additionally, in the first quarter of 2022, ConocoPhillips Alaska invested capital of $253 million in the State of Alaska.
“ConocoPhillips is on track to invest approximately $1 billion of capital in the state for 2022. This investment in Alaska will bring new projects online and add new barrels of oil to the Trans-Alaska Pipeline,” said Erec Isaacson, president, ConocoPhillips Alaska. “The existing fiscal regime continues to generate revenue for Alaska and promotes a stable environment for ongoing investment.”
Since 2007, ConocoPhillips Alaska has incurred over $40 billion in taxes and royalties to the State of Alaska and the federal government. Of that amount, about $31 billion went directly to the state. In that same period, ConocoPhillips Alaska’s earnings have been approximately $23 billion.
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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.
Media Contacts Rebecca Boys (Alaska) 907-263-4115 rebecca.a.boys@conocophillips.com
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