Alaska brightens ConocoPhillips earnings report

Alaska is a bright spot in ConocoPhillips’ third quarter earnings.
The Alaska Journal of Commerce reports the region was alone in bringing in positive cash flow for a company with third-quarter losses totaling $1.04 billion worldwide.
Chief Financial Officer Don Wallette Jr. told investors the company cut operating expenses and has taken other steps.
He said the company is very well positioned.
The quarter’s capital project spending totaled $199 million in Alaska compared to $304 mil