ConocoPhillips Alaska (ConocoPhillips, COP) is the oil company that operates the state's largest North Slope oil fields. It runs the Kuparuk and Alpine fields and is developing the Willow project in the National Petroleum Reserve-Alaska. The company is headquartered in Anchorage.
alaska.conocophillips.com ↗700 G St, Anchorage, AK 99501, USA
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ConocoPhillips' Alaska earnings more than triple to $423 million on higher oil prices
ConocoPhillips reported Thursday that it earned $423 million in Alaska in the third quarter, more than three times the $130 million it earned there a year earlier, mostly because oil prices were higher.
The company got an average of $96.52 a barrel for its Alaska crude from July through September, up from $72.72 a year earlier, according to its quarterly filing with the U.S. Securities and Exchange Commission. The filing says higher prices added $302 million to earnings and higher production added $25 million.
ConocoPhillips reports Alaska as its own business segment, so its filings show what it earns in the state. Those earnings were $1.8 billion in 2023, $1.3 billion in 2024 and $730 million in 2025, according to its annual filings and its 2025 year-end review. Through September this year, they totaled $1.24 billion.

Those earnings are counted after taxes. In the third quarter, ConocoPhillips' Alaska business recorded $132 million in income taxes, up from $61 million a year earlier, and $166 million in taxes other than income taxes, which include production and property taxes, up from $126 million. The filing says higher prices pushed up its Alaska production taxes this year.
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Latest
October 2026
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On the North Slope, the oil field grows a few thousand cubic yards at a time
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June 2026
ConocoPhillips seeks North Slope road upgrades for Willow haul
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ConocoPhillips files amended Meltwater easement application
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ConocoPhillips is widening the last gravel road before Willow's modules hit ice
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May 2026
Federal appeals court clears Alaska to release NPR-A drilling data
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About ConocoPhillips Alaska
alaska.conocophillips.com ↗700 G St, Anchorage, AK 99501, USA
ConocoPhillips Alaska (ConocoPhillips, COP) is the oil company that operates the state's largest North Slope oil fields, headquartered in Anchorage. It runs the Kuparuk and Alpine fields and is developing the Willow project in the National Petroleum Reserve in Alaska.
Its work on the North Slope runs through permits: gravel for pads and roads, ice roads and off-road travel on state land, easements for infrastructure such as Meltwater, and drilling and injection rules set by state regulators for Willow. It also explores for more oil, both in the petroleum reserve and in reservoirs within Kuparuk that older drilling missed.
Its operations tie it to the Bureau of Land Management, to state agencies and to the pipelines that carry North Slope oil and gas, and it pays royalties on its federal leases. Communities near its fields, Nuiqsut among them, weigh in on how development proceeds.
More from ConocoPhillips Alaska
ConocoPhillips Cuts 12.5% of North Slope Workforce as Oil Prices Fall
ConocoPhillips laid off 12.5% of its North Slope workforce in September following its merger with Marathon Oil, affecting workers at Kuparuk, Alpine, and Willow fields as oil prices fell.