
ConocoPhillips asks to drill more wells in Alaska
The exploration via four wells and seismic testing — if they lead to significant discoveries underground — could increase crude oil production out of Alaska for years. The state is already the site of ConocoPhillips' planned Willow oil project.
That would align with the Trump administration's push to double down on American fossil fuel production. It could also lock in decades' worth of new carbon emissions at a time when scientists are warning of the dire consequences that will come from a failure to curb climate change.
Advertisement
Houston-based ConocoPhillips applied Monday for permits to drill exploration wells mostly in the eastern areas of the NPR-A, not far from the Willow project, according to a company statement. One well would be in the Greater Mooses Tooth unit, while another would be in the Bear Tooth unit; two other wells would be drilled 'to the west,' ConocoPhillips said. The seismic program would occur south of the Greater Mooses and Bear Tooth units.
'ConocoPhillips is dedicated to the safe and responsible development of our leaseholds in Alaska for the benefit of all Alaskans and our nation's energy security,' the company said in its emailed statement. 'We recognize the strategic importance of resource development in the state and are seeking authorization from the Bureau of Land Management to conduct exploration activities in the NPR-A during the winter season of 2025-2026.
'ConocoPhillips looks forward to continuing our more than 50-year track record of responsibly exploring for and developing Alaska's resources in the years ahead,' ConocoPhillips added.
Interior's Bureau of Land Management, which manages underground resources on federal lands, declined to comment.
The application for exploratory wells was reported earlier by Bloomberg.
For environmentalists, drilling in the largest tract of U.S. public land is both a danger to species like polar bears, arctic foxes and migrating birds as well as a failure to phase out oil operations. Green groups have long opposed the contentious Willow oil project, which is under construction and scheduled to begin producing oil in 2029.
'The proposed oil exploration around the Willow mega-project is reckless in the face of the climate crisis and ongoing concerns from the community of Nuiqsut,' Matt Jackson, Alaska senior manager at The Wilderness Society, said in a statement.
Drilling activity on Alaska's North Slope has long been a source of tension. In 2023, former President Joe Biden approved ConocoPhillips' Willow oil project, which could involve about 200 wells that may be active for decades. But Biden also restricted or banned drilling in about half the NPR-A.
The Trump administration has since moved to remove those protections, sometimes called the 2024 Western Arctic rule, and open up 82 percent of the NPR-A for oil and gas leasing.
'Proposed developments like this are exactly why the 2024 Western Arctic Rule should stand, to ensure ongoing protections for Arctic communities, subsistence species and the climate in the face of relentless industrial pressure,' Jackson said Tuesday.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
11 minutes ago
- Yahoo
Netflix price target raised to $1,495 from $1,450 at UBS
UBS analyst John Hodulik raised the firm's price target on Netflix (NFLX) to $1,495 from $1,450 and keeps a Buy rating on the shares following the Q2 results and raised full year guidance. UBS expects new content and investments in live programming to support engagement growth going forward, the analyst tells investors in a research note. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See today's best-performing stocks on TipRanks >> Read More on NFLX: Disclaimer & DisclosureReport an Issue Netflix price target raised to $1,300 from $1,230 at JPMorgan Netflix price target raised to $1,450 from $1,440 at TD Cowen Strong Financial Performance and Strategic Advancements Drive Buy Rating for Netflix Netflix price target raised to $1,515 from $1,514 at Rosenblatt Options Volatility and Implied Earnings Moves Today, July 18, 2025 Sign in to access your portfolio
Yahoo
11 minutes ago
- Yahoo
Cities and states offer welcome mats — and pots of cash — to lure remote workers
Theresa Kaiser was working as an assistant dean for the University of Michigan Law School when she pulled up stakes and moved to Tulsa, Okla., lured by a $10,000 relocation grant from the city. 'I love working remotely,' Kaiser, 61, told Yahoo Finance. 'I'm not trying to climb the ladder anymore. I'm not trying to make a name for myself. So a lot of that pressure's gone for me.' Tulsa is among a handful of cities and states targeting remote workers to relocate from more expensive areas, even as many companies tighten remote working arrangements. For those workers who can land and hold onto a fully remote gig, the perks can be considerable. With its Ascend WV program, West Virginia offers $12,000 to remote workers who move to the state. The money is paid out over a two-year period. Applicants must work full-time remote jobs or own businesses outside of West Virginia that can be managed remotely. Other cities and regions with incentive programs for remote workers looking to relocate include: Texarkana, Texas and Arkansas, Columbus, Ga., Noblesville, Ind., and eastern Kentucky. "We're incredibly excited about the momentum and the quality of individuals and families who have chosen to relocate to Texarkana through this initiative," Rob Sitterley, president and CEO of the program in Texarkana. "At this point, we have received well over 8,100 applicants, and interest continues to grow." Tulsa rolled out its Tulsa Remote initiative in 2018 to lure new residents by offering them $10,000 grants for a year to work from there remotely. To date, 3,600 workers have taken them up on that offer. Some caveats: You have to have a full-time remote job to be eligible for the program. You also have to have lived outside of the state of Oklahoma for at least a year and be eligible to work in the United States. Sign up for the Mind Your Money weekly newsletter By subscribing, you are agreeing to Yahoo's Terms and Privacy Policy Tulsa Remote provides co-working space for the year, and offers monthly meetups and workshops to develop skills and strategies for working remotely effectively. Backed by the Tulsa-based nonprofit George Kaiser Family Foundation, the goal is to bring in people who'll stick around, get involved in the community, and strengthen the local economy. 'It was really an experiment to diversify the talent workforce here in Tulsa,' Justin Harlan, managing director of the program, told Yahoo Finance. 'Tulsa is a city that's often reliant on oil and gas as an industry, which can be a royal rollercoaster even in the best of times,' he said. 'And so our hope was that if we could bring knowledge workers to the city, that we would build up an economy that was more resilient for the future.' For remote workers, it's a personal choice. 'I like to find balance in what goes on outside of my work and how I work,' Kaiser said. 'All those things become a lot more important than what's my salary and what's the next step up for me and what's the next title.'It's the community that has made remote work so appealing to remote workers ranging from their mid-20s to 70-plus, according to Harlan. 'Remote working is often an isolating experience, and the fact that we really have intentionality around not only getting people here, but then really helping them integrate into the city in strategic ways.' About 40% of the Tulsa remote program workers are in technology fields, and the rest of the group is spread out in fields including marketing, education, and finance, per Harlan. 'If you can do your job from anywhere, we'd love for you to do it from Tulsa,' he said. Kerry Hannon is a Senior Columnist at Yahoo Finance. She is a career and retirement strategist and the author of 14 books, including the forthcoming "Retirement Bites: A Gen X Guide to Securing Your Financial Future," "In Control at 50+: How to Succeed in the New World of Work," and "Never Too Old to Get Rich." Follow her on Bluesky. Sign up for the Mind Your Money newsletter Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
11 minutes ago
- Yahoo
5 Things To Do When the Price of Gold Plummets
Typically, gold has been viewed as a rather safe asset to invest in — especially during periods of economic instability — because of the metal's tendency to maintain its inherent value even when stocks drop and volatility reigns. Despite that general stability, however, the price of gold has declined recently, worrying some investors. Invest in Gold American Hartford Gold: #1 Precious Metals Dealer in the Nation Thor Metals Group: Best Overall Gold IRA Priority Gold: Up to $15k in Free Silver + Zero Account Fees on Qualifying Purchase Gold's price per ounce in April 2025 was $3,400; in May, though, it had dropped to $3,238.88 — a devaluation of 6%. While 6% may not be considered precipitous, it is a devaluation that may cause some investors to worry. As a result, CBS News recently outlined what gold investors should do as a result of such drops in value. Don't Panic First off, remember that a 6% drop in the gold price is not a crash, and it is certainly not a reason to panic. Historically, a dip such as this actually tends to precipitate a subsequent rise in gold costs. Meaning? Don't make a panicked decision regarding your gold portfolio just yet, especially when its value will likely soon increase. Remember the Long-Term Value of Gold While gold may not be the most reliable income producer, CBS News noted it has always been an income protector, used as a hedge against inflation thanks to its reliability during times of economic volatility. Don't Rush To Sell The instinct when the price of an investment drops is to sell, sell, sell. With gold, however, this could be a critical error — as noted above, dips in the worth of gold are typically followed with surges in value soon thereafter. Reevaluate Your Gold Holdings As with the decline in any of your investments, a drop in the value of gold should be used as an opportunity to reevaluate your portfolio. Seriously consider whether you wish to double down on gold now while other investors sell in a panic. Conversely, you may wish to safely and rationally expand your portfolio beyond just gold. Either way, never forget to maintain calm, and don't panic. Consider Purchasing More Gold As noted above, other investors could panic at gold's drop in value. Now would be the time to take advantage of that panic and buy more gold while it's currently below cost. Their loss could easily become your gain, especially once the price of gold likely surges to record numbers following this most recent dip. More From GOBankingRates These Cars May Seem Expensive, but They Rarely Need Repairs This article originally appeared on 5 Things To Do When the Price of Gold Plummets Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data