ConocoPhillips nets $445M in Alaska to start 2018

posted by Rick Rydell -

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ConocoPhillips’ first quarter earnings report issued Thursday was full of good news for the company as it generated $888 million of profits with oil prices in the $70 per barrel range.

Houston-based ConocoPhillips grossed more than $8.9 billion in the first three months of 2018, which is its highest revenue quarter since oil prices collapsed in the fall of 2014.

The company netted $445 million in adjusted earnings in Alaska during the quarter, also its highest income quarter in the state since the oil market reset. In fact, the $445 million of Alaska income is more than four times greater than its first quarter 2017 earnings in the state and nearly 70 percent of its total 2017 Alaska earnings of $652 million.

ConocoPhillips nets $445M in Alaska to start 2018


Rick Rydell

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