ConocoPhillips CEO Doubles Down on Alaska Oil as Competitors Leave Arctic

Ryan Lance says Alaska, where he began his career, will provide much-needed crude for decades to come

ConocoPhillips CEO Ryan Lance has a contrarian strategy of drilling wells that will yield oil for decades.Photo: Reginald Mathalone/Zuma Press

ConocoPhillips Chief Executive Ryan Lance was only a budding oilman when he first set foot in Alaska. Nearly four decades later, his company reigns supreme over the U.S. Arctic.

With most of its competitors abandoning the state, ConocoPhillips is forging ahead with drilling there, emboldened by President Biden’s approval this month of a robust, new project.

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