ConocoPhillips Alaska’s Coyote 3SX project achieves first oil

Date: August 12, 2026, Anchorage, Alaska – ConocoPhillips Alaska announced today that the Coyote 3SX development in the Kuparuk River Unit (KRU) on State land has achieved first oil ahead of schedule and under budget on Friday, Aug. 7, 2026.

Funding for the approximately $800 million project was approved in October 2025, and construction began in early 2026. “Coyote 3SX demonstrates our commitment to maximizing the value of our legacy assets while continuing to deliver safe, reliable domestic production,” said Erec Isaacson, president, ConocoPhillips Alaska. “The additional pipeline required for the project will support increased production from Coyote as volumes rise in 2026 and beyond.”

 The Coyote 3SX development marks an important milestone in the company’s long-term commitment to responsible energy development on Alaska’s North Slope. By leveraging existing infrastructure, the development efficiently brings new production online in the KRU while supporting Alaska jobs, strengthening throughput in the Trans Alaska Pipeline System and generating benefits for local, state and federal governments.

 At peak construction in April 2026, there were approximately 365 workers on the project. Expected peak oil rate is 12,000 barrels per day gross. “The Coyote project is a testament to the hard work, commitment to safety and excellence of our dedicated team,” remarked Isaacson. ConocoPhillips Alaska invests approximately $1 billion each year to sustain and grow its Alaska legacy assets through projects such as Coyote. A stable, predicable fiscal framework supports the long-term investment needed to strengthen production, support Alaska jobs and deliver continued benefits to the state.

Alaska’s $55B LNG Mega-Project In Talks With More Buyers Ahead Of FID
Alex Kimani, OilPrice.Com, August 11, 2026

• Alaska LNG is gaining momentum, with strong Trump administration backing and growing interest from Japan and South Korea helping the $55 billion project overcome previous financing hurdles.
• Glenfarne needs 3 million more tonnes of offtake agreements to reach its 80% target for a final investment decision.
• The project could strengthen U.S. LNG exports to Asia, offering shorter Pacific shipping routes to Japan and South Korea while diversifying U.S. export capacity beyond the Gulf Coast.

Two years ago, Alaska LNG was struggling to secure the private financing needed to move forward, with high Arctic construction costs, logistical complexities and massive upfront property tax burdens making lenders and potential Asian buyers hesitant to commit. But since then, the outlook for the $55-billion megaproject has improved considerably.

The proposed 800-mile pipeline and LNG export project has gained strong backing from the Trump administration, with President Trump pushing Japan and South Korea in particular to invest in the project and purchase its gas as part of broader efforts to reduce their trade surpluses with the United States. 

“If you get the commercial offtakers for the gas, financing is pretty straightforward,” Energy Secretary Chris Wright told CNBC last year. “There [are] countries around the world looking to shrink their trade deficit with the United States, and of course, a very easy way to do that is to buy more American energy,” Wright said.

And now, the giant project has come a step closer to finally becoming reality: Lead developer Glenfarne Group has revealed that it’s talking to two more potential buyers in a bid to secure offtake agreements for another 3 million metric tons of LNG before the company makes a final investment decision (FID). Glenfarne Group says it requires 80% of its 20-million-ton target capacity covered before making its FID, having secured offtake agreements for more than 13 million tons so far.