Forecast - Production | Capital Markets | Capital Expenditure | Capital Expenditure - 2019
Conoco Keeping Spending Flat for 2019 Based on $40+ WTI; Eyes 8% Production Growth
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ConocoPhillips has detailed its 2019 capital budget and operating plan. Spending will be relatively flat from 2018 at $6.1 billion.
Key highlights are:- Planned 2019 capital expenditures of $6.1 billion result in free cash flow at prices above $40 per barrel WTI
- Expected 2019 production of 1,300 MBOED to 1,350 MBOED, excluding Libya and assuming the previously announced Clair and Kuparuk transactions will close by year-end 2018
At midpoint, this represents year-over-year growth of 8% per debt-adjusted share- 2019 operating highlights include:
Appraisal drilling of the Willow discovery in Alaska Continued multi-well pad appraisal drilling in the emerging liquids-rich Montney in Canada Multi-well pilot tests of new completion designs in Eagle Ford and Delaware Exploration…- ✓ Full news archive — U.S., Canada & international coverage
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