Biden approves minimum oil lease sale required by law in Alaska's Arctic refuge [Fortune]
ConocoPhillips (COP)
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Source: Fortune
The sale will be held Jan. 9, less than two weeks before President Joe Biden leaves office. It will include a fraction of the land total that was available for bidding roughly four years ago in a sale held during the Trump administration. President-elect Donald Trump pledged during his latest run for the White House to expand oil drilling in the U.S., and he's pointed to the passage of a 2017 law that enabled Monday's announcement as a highlight when it comes to Alaska policy. The 2017 law mandated two lease sales by late 2024, but major oil companies sat out the first sale. The Biden administration reviewed the leasing program , and seven leases from the first sale ultimately were canceled Does this mean there will be drilling in the refuge? It's unclear. A lease sale is one step in a long process — one that can often get mired in litigation. There are ongoing lawsuits surrounding the first lease sale, and environmentalists have vowed to go to court to keep drilling out of t
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COP
Earnings
- 10/31/24 - Beat
COP
Sec Filings
- 12/20/24 - Form 4
- 12/18/24 - Form 4
- 12/16/24 - Form 4
- COP's page on the SEC website