ConocoPhillips Alaska reported net income of $416 million in the first quarter of 2023.
During the quarter, ConocoPhillips Alaska incurred an estimated $464 million in taxes and royalty payments due. That included $320 million to the State of Alaska and $144 million to the federal government.
Additionally, in the first quarter of 2023, ConocoPhillips Alaska reported it invested $406 million in capital in the Alaska.
“ConocoPhillips Alaska spent $1.1 billion in 2022, and in 2023, is projected to increase capital spend as the Willow project has commenced construction. Alaska’s existing fiscal regime (SB21) is clearly working to promote new and ongoing investment,” said Erec Isaacson, president, ConocoPhillips Alaska. MORE
Sounds like they hired a Government accountant to advise them on their operations.
Conoco Phillips seems to be run by Milo Minderbinder, who bought eggs for 7 cents apiece and sold them to the US government for 5 cents each – but still managed to make a profit.
Yeah, but what was their EBITA?
Make 416, owe 464. Is this what the politicians call “sustainable”?
And 10% goes to the big guy