ConocoPhillips (NYSE: COP) is one of the better turnaround stories in the oil and gas industry today. Its new focus as a North American-centric exploration and production company is looking more and more to be a great move by management. So far, much of the company's success in this venture has been from shale drilling in places like the Permian Basin and the Eagle Ford. Looking beyond the gains from the lower 48, though, the company will need to make one region its new frontier again: Alaska.

With underdeveloped natural gas assets, and a more favorable tax structure, Alaska is poised to be one of the biggest indicators of ConocoPhillips' success. Tune into the video below where Fool.com contributor Tyler Crowe looks at why this region is so important and what investors should look for.  

American Oil Winners
Conocophillips isn't alone in turning the US shale boom into big profits, but not every company is poised to profit. Finding the right plays while historic amounts of capital expenditures are flooding the industry can be like finding a needle in a pile of rusty needles. For this reason, we have put together a comprehensive look at three energy companies set to soar during this transformation in the energy industry. Let us help you discover these three companies that are spreading their wings by checking out our special report, "3 Stocks for the American Energy Bonanza." If you simply click here, we'll give you free access to this valuable report.

Fool contributor Aimee Duffy has no position in any stocks mentioned. Fool contributor Tyler Crowe has no position in any stocks mentioned. You can follow them both on Twitter @TMFDuffy and @TylerCroweFool, respectively.

The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.