Forecast - Production | Capital Markets | Capital Expenditure | Capital Expenditure - 2019
Conoco Keeps Capex Flat at $6.1B for 2019
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ConocoPhillips has reported its 2019 capital plan as well as its Q4 2018 summary.
2019 Plans
- 2019 Capex: $6.1 billion - this is flat from 2018
- 2019 Production Guidance: 1,300-1,350 BOEPD
The company's 2019 guidance for capital expenditures is $6.1 billion. First-quarter 2019 production is expected to be 1,290 to 1,330 MBOED, reflecting the impacts of a planned turnaround in Qatar of approximately 15 MBOED and government-mandated production curtailment in Canada of approximately 10 MBOED. Production is expected to ramp-up in the second half of the year, with full-year 2019 production guidance unchanged from the previously communicated 1,300 to 1,350 MBOED. Production guidance for 2019 excludes Libya.
Guidance for 2019 production and operating expenses is $5.4 billion, which results in adjusted operating cost guidance of $6.1 billion; corporate segment net expense is $0.9 billion or $1.0 billion adjusted corporate segment net expense; depreciation, depletion and amortization is $6.3 billion; and exploration dry hole and leasehold impairment expense is $0.2 billion.
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