2019 Top Forty Under 40 announced

The Alaska Journal of Commerce announced the members of our 2019 Top Forty Under 40 on Feb. 1. This year’s selection committee chose the class from the largest group ever nominated: 152 individuals and nearly 800 total pages of supporting materials. “Choosing the Top Forty class is always a tough task, and Alaskans didn’t make it any easier this year,” said Journal Managing Editor Andrew Jensen. “We’re happy to have representation from the Kenai Peninsula, Alaska’s Gateway City in Ketchikan, Southcentral, the Interior and members from Northwest Alaska who call Nome and Kotzebue home.” The 2019 Top Forty Under 40 will be honored at an awards dinner on March 29 at the Hotel Captain Cook in Anchorage. A cocktail reception will begin at 6 p.m. with the dinner and award event starting at 7 p.m. Please contact Journal Advertising Director Jada Nowling for ticket sales, advertising and sponsorship opportunities. She can be reached at 907-257-4268 or [email protected] The 2019 Top Forty: Jamie Acton, 39, Director of Public Transportation, Municipality of Anchorage Dr. Cody Augdahl, 37, Assistant Medical Director, Norton Sound Regional Hospital, Nome Jennifer Baker, 32, Director, Cardiovascular Service Line, Providence Alaska Medical Center, Anchorage Casey Bieber, 38, Program Director, Morning Show Host, iHeart Radio, Anchorage Clayton Bourne, 39, Chief Financial Officer, Aleut Corp., Anchorage Monica Bradbury, 38, Marketing Manager, DOWL, Anchorage Holly Brooks, 36, Owner, Holly Brooks LLC, Anchorage Sarah Brown, 29, Regional Vice President, Alaska, BridgeHeath Medical Inc., Anchorage Peter J. Caltagirone, 36, Special Assistant to the Natural Resources Commissioner, Anchorage Dr. Briana Cranmer, 35, Physician, Vera Whole Health, Anchorage Richard Crum, 37, President/CEO, BoreTide Construction LLC, Palmer Chris Devine, 34, CEO, Craig Taylor Equipment, Anchorage Jaime Eggert, 33, Resource Pool Clinical Manager, Providence Alaska Medical Center Danielle Flaherty, 36, Stone’s Throw Program Manager, Bread Line Inc., Fairbanks Dr. Paul Forward, 39, Physician, Alaska Native Tribal Health Consortium; Lead Ski Guide, Chugach Powder Guides, Anchorage Angelina Fraise, 39; Officer, Anchorage Police Department Penny Gage, 32, Director of Special Projects, Alaska Growth Capital, Anchorage Kristin George, 39, Senior Development Director, American Heart Association Anna Gould, 39, Business Sales Manager, GCI, Anchorage Stephen Grantier, 35, Chugach Alaska Heritage Foundation Program and Systems Manager, Chugach Alaska Regional Corp. Rachel Guyselman, 31, Vice President, Operations, Tongass Federal Credit Union, Ketchikan Charissa Habeger, 34, Community Development Director, American Cancer Society, Anchorage Lindsey Hobson, 37, Manager of Communications, Enstar Natural Gas Co. Jonathan Hornak, 33, Senior Project Manager, Cornerstone General Contractors Erica Jensen, 38, Project Engineer, CRW Engineering Group Inc. Mickela Lamb, 31, Information Management and Documentation Control, BP; Owner/CEO, Polished Image Consulting, Anchorage Justin Milette, 34, Firefighter, Anchorage Fire Depatment; Realtor, EXP Realty; Owner, Frozen Grove Vladimir Novak, 38, Treasury and Securities Manager, First National Bank Alaska, Anchorage January O'Connor, 39, Owner/Founder, Raven’s Group LLC, Anchorage Jessica Oswald, 38, Information Services Executive Director/Senior Strategic Partner, Providence Health and Services Alaska, Anchorage Patrick Jeremy Pletnikoff, 38, Senior Vice President, Mt. McKinley Bank, Fairbanks Steve Rader, 37, General Manager, Hilton Anchorage Hotel Timothy Redder, 38, Business Banking Manager, Wells Fargo, Kenai Rep. Josh Revak, 37, Alaska State Representative, Anchorage Kari Skinner, 39, Vice President/Marketing and Communications Director, Northrim Bank, Anchorage Jennifer Snodgrass, 38, Commercial Loan Officer, Alaska Growth Capital, Anchorage Nicole Stoops, 38, Executive Director, Native Village of Kotzebue Brennan Walsh, 36, President, STG Inc., Anchorage Bobby Wilken, 39, Owner, HooDoo Brewing Co., Fairbanks Chad Wilson, 39, Project Manager, Commercial Flooring, Spenard Builders Supply

ConocoPhillips turns first annual profit since 2014

ConocoPhillips continued its turnaround from the oil price collapse by netting the company’s first annual profit in four years with net income of more than $6.2 billion in 2018. In its year-end earnings report issued Jan. 31, the Houston-based oil major additionally posted a fourth quarter profit of $1.8 billion, compared to a fourth quarter 2017 profit of nearly $1.6 billion. ConocoPhillips lost $855 million overall in 2017. The fourth quarter result is also the company’s best quarterly return since the third quarter of 2014 when oil prices averaged $97 per barrel and it earned $2.7 billion, according to report archives. In Alaska, ConocoPhillips turned profits of $445 million for the fourth quarter and $1.8 billion overall for 2018. The companywide earnings came on the back of $10.3 billion in revenue for the quarter and $38.7 billion for the year. ConocoPhillips generated $5.5 billion in free cash flow during the year, according to the earnings report. CEO Ryan Lance said he is proud of the results in a formal statement. “Our accomplishments reflect our clear commitment to a value proposition that is focused on returns and free cash flow generation, and that balances investments with returning cash flow to shareholders through price cycles. This is our formula for offering investors a compelling way to invest in our sector, ” Lance said. “We look forward to delivering another strong year of performance in 2019.” ConocoPhillips announced a first quarter dividend of 30.5 cents per share ahead of the earnings report. The dividend will be paid March 1. ConocoPhillips stock closed trading at $67.69 per share Jan. 31, up from a pre-earnings opening price of $65.76 per share. The company sold its oil for an average price of $68.03 per barrel last year, compared to $51.89 per barrel in 2017. ConocoPhillips Alaska leaders have said the company has set a $40 per barrel oil price breakeven benchmark for all of its future projects. During the year ConocoPhillips paid down $4.7 billion in debt and reached its debt target of $15 billion 18 months ahead of schedule, according to an earnings release. Last July, the company announced a deal with BP to swap a portion of its interests in the offshore Clair Field in Britain’s North Sea for BP’s 38 percent stake in the Kuparuk River oil field on the North Slope, which ConocoPhillips operates. The cash-neutral deal gives ConocoPhillips a 92 percent stake in Kuparuk, according to state Division of Oil and Gas records. The company also commenced production from its $725 million Greater Mooses Tooth-1 oil project in early October. GMT-1 is expected to produce up to 30,000 barrels of oil per day at its peak and marks the first oil production from federal leases within the National Petroleum Reserve-Alaska. Later that month ConocoPhillips approved funding for the nearby and slightly larger $1 billion-plus GMT-2 project, which is forecasted to come online in late 2021. The company also initiated permitting on its large Willow oil prospect, also in the NPR-A, which could cost $4 billion to $6 billion to fully develop over the next six-plus years. ConocoPhillips spent nearly $1.3 billion on capital projects in the state last year out of an overall capital budget of $6.7 billion. BP, ExxonMobil report results BP, which operates the massive North Slope Prudhoe Bay oil field, reported a full-year 2018 profit of $9.4 billion Feb. 5, compared to $3.4 billion in 2017. The London-based major also reported an underlying replacement cost profit of $3.5 billion for the fourth quarter from strong performance in all of its business sectors. The company generated an 11.2 percent return on invested capital during the year, compared to 5.8 percent in 2017, according to the financial report. BP’s 2010 Gulf of Mexico oil spill settlement payments totaled $3.2 billion last year. Its oil and gas production was up more than 8 percent year-over-year, averaging 3.7 million barrels of oil equivalent in 2018. ExxonMobil, operator of the Point Thomson gas field on the North Slope, on Feb. 1 reported full-year earning of $20.8 billion, up from $19.7 billion in 2017 and fourth quarter earnings of $6 billion, down 28 percent year-over-year. However, excluding U.S. corporate tax reforms and impairments, the fourth quarter results were $6.4 billion, compared to $3.7 billion in the last months of 2017, according to a company statement. ^ Elwood Brehmer can be reached at [email protected]

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