CP rebounds, buys Anadarko Slope interests for $400M

ConocoPhillips reported its largest quarterly earnings in more than three years Feb. 1 when the company announced a profit of nearly $1.6 billion for the fourth quarter of 2017.

In Alaska, ConocoPhillips reported adjusted earnings of $283 million for the quarter and $652 million total for 2017. It also purchased all of Anadarko Petroleum Corp.’s North Slope assets for $400 million.

Andeavor buys Kenai LNG Facility

Andeavor has acquired the Kenai Liquefied Natural Gas facility from ConocoPhillips.

The company formerly known as Tesoro announced Thursday the LNG facility will be a natural extension of its Alaska operations.

ConocoPhillips in November 2016 announced that it would sell the Kenai LNG plant. The company in July said it was scaling back operations until it had found a buyer.

The Kenai facility has been idle for more than two years, with its last export in the fall of 2015, as depressed global LNG prices have simply pushed it out of the market.

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