JUNEAU -- ConocoPhillips Alaska has reported earning $551 million in the state during the second quarter. That's down $69 million from the first quarter, attributed to lower oil prices and sales volumes.
ConocoPhillips Alaska says tax and royalty obligations to the state for the latest quarter totaled about $983 million.
The company was among those that urged lawmakers to lower production taxes. In a news release Wednesday, it continued seeking change, with its vice president of finance saying "very high" government take on the North Slope negatively affects the investment climate.
ConocoPhillips says its capital budget for the Lower 48 increased from $1.6 billion in 2010 to $4.8 billion in 2012. Alaska's budget remained around $900 million, and that full amount wasn't spent last year.