[thackney]

Alaska remains the most profitable place in the world for ConocoPhillips to be in the oil business -- 24.1% of their worldwide profits

I would like to understand that claim better.

Net Income in Alaska (E&P) was $1,735,000,000
Net World E&P Income was $9,198,000,000
Net Total Income was $11,417,000,000

Looks more like 15% of profit.

http://www.conocophillips.com/EN/investor/financial_reports/earnings_reports/Documents/4Q11_Supplemental.pdf

[Al B.]

You're looking at the wrong year. You're quoting 2010, the worst year of the 4 ACES years for CP's Alaska E&P profitability. I was quoting from 2011 figures.

The 4-year average under ACES for CP is 22.9% of E&P profits on 15.6% of production. You'll have to do some spreadsheet math to get to the production figures. The raw daily production numbers come directly from CP's financials, though.