ConocoPhillips Alaska announced a net income of $327 million for the first quarter of 2025, according to figures released today in conjunction with parent company ConocoPhillips’ quarterly earnings. The result reflects continued investment and operational momentum in Alaska.
During the first quarter of 2025, ConocoPhillips Alaska paid an estimated $362 million in taxes and royalties, with $251 million to the State of Alaska and $111 million to the federal government.
That’s down from the $437 million in taxes and royalties reported for the first quarter of 2024, reflecting reduced earnings and commodity price impacts.
The company also invested more than $1 billion in capital during the quarter. The rise is largely attributed to activity at the Willow project, where ConocoPhillips completed its largest-ever winter construction season.
“This quarter’s accomplishments are significant,” said Erec Isaacson, president of ConocoPhillips Alaska. “We achieved critical milestones on Willow, keeping us on track for first oil in 2029.
Isaacson emphasized the company’s broader strategy for Alaska, highlighting development potential in Kuparuk and the Western North Slope, and crediting the state’s fiscal policy for enabling continued investment.
“We continue to deepen our Alaska portfolio through optimization and exploration. We have a strong pipeline of resource opportunities across our operated assets which will drive growth in Kuparuk through Nuna, Coyote, and viscous developments, and in Western North Slope satellite reservoirs. This continuing activity underscores our commitment to Alaska and demonstrates the effectiveness of state fiscal stability in our state,” Isaacson said.
Since 2007, ConocoPhillips Alaska has paid more than $46 billion in taxes and royalties, approximately $36 billion of which went to the State of Alaska, while earning around $28 billion for its investors during that same period.
“ConocoPhillips Alaska announced a net income of $327 million for the first quarter of 2025…During the first quarter of 2025, ConocoPhillips Alaska paid an estimated $362 million in taxes and royalties, with $251 million to the State of Alaska and $111 million to the federal government.”
Once again government makes more off of oil and gas than the companies producing the oil and gas. It’s also worth noting that this does not include any taxation on any of the nearly countless refined products that are taxed at each step of the process after the oil and gas has been pulled from the ground. Governments survive off of oil and gas taxation, not just in Alaska, and not just the state and federal government but all levels down to the smallest city or township that levies taxes on oil products.
I’m still waiting for someone to have an informed discussion about what exactly the slogan our “fair share” is.
The people who use that term mean “more for me” no matter what happens to the Golden Goose.
Agreed.
I’m sure it is not enough for Bill W.
Yet the crooked politicians will still manage to mismanage the income and blame Trump for their failures.
Then CMAN, Whidbey, and co. will come in to blame MAGA for all the problems in society like a broken record.
Hilarious to watch NPC’s doing nothing but NPCin.
And in the back rooms of the capitol in Juneau, (D)ems and RINOs are more than likely discussing how this isn’t enough and planning how to stick it to ConocoPhillips and the rest of the oil industry.
Just more money for the legislature to squander away. In between clever ways of robbing the PFD. If elected I will protect the PFD for you, sound familiar…….
So what did C-P get for their $251M in taxes to the State of Alaska?
.
What did productive Alaskans get as a result of 251M in taxes to the State of Alaska?
.
Is it time for serious discussions with C-P leadership about what they do in a third-world county where regime change seems preferable to increasing uncertainty of dealing with a corrupt, unstable local dictatorship?
I’m sure our new middle aged Senator from the valley will respond eventually, prefer he doesn’t, as I don’t want to listen to his diatribe. The Valley needs to make sure he is a one term wannabe!