Alaska Department of Environmental Conservation has reached an agreement with Conocophillips Alaska, Inc. settling state environmental claims stemming from oil releases that occurred in the Kuparuk River oil field in March 2006 and December 2007. Both releases involved the corrosion of flow lines. These lines carry a mixture of crude oil, water, gas and solids that come out of production wells and to processing centers. In addition to reimbursing the State's investigation and spill oversight costs of $112,273, ConocoPhillips has agreed to pay the state $78,283 in civil assessments for the spill in March 2006 and $77,009 for the spill in December 2007.

Conocophillips Alaska, Inc. announced financial results for the second quarter of 2012. For the quarter, the company reported earnings of $551 million.