$100 million-plus tax boost on oil company Hilcorp added to carbon storage bill [Yahoo! Finance]
ConocoPhillips (COP)
Last conocophillips earnings: 4/30 07:00 am
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Source: Yahoo! Finance
But the Texas-based company warned that a tax hike could "significantly" impact its investment decisions and its existing contracts. Hilcorp is among Alaska's top oil companies as the current operator of the Prudhoe Bay oil field, and is by far the largest producer of Cook Inlet natural gas. House Bill 50 was introduced by Gov. Mike Dunleavy last year. The measure would provide a statutory framework so the state can lease depleted gas reservoirs in Cook Inlet to store carbon dioxide deep underground. Originally pitched as a way to raise state revenue, the carbon sequestration measure is now being touted as a way to boost investment in the oil and gas industry. The House bill was amended in the Senate Resources Committee on Friday to close the so-called S-corporation loophole. Hilcorp, which is privately owned, does not pay state corporate income taxes. The Alaska Department of Revenue estimated last year that applying corporate income taxes to privately owned oil and gas compa
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News
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- ConocoPhillips (NYSE: COP) had its price target raised by analysts at Mizuho from $139.00 to $142.00. They now have a "neutral" rating on the stock.MarketBeat
- Insiders At ConocoPhillips Sold US$9.4m In Stock, Alluding To Potential Weakness [Yahoo! Finance]Yahoo! Finance
- Drilling Tools International Corp. (NASDAQ:DTI) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
COP
Earnings
- 5/2/24 - Beat
COP
Sec Filings
- 5/16/24 - Form 8-K
- 5/2/24 - Form 4
- 5/2/24 - Form 4
- COP's page on the SEC website