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Conoco Keeps Capex Flat at $6.1B for 2019

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   |    Monday,February 04,2019

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.


2024 Development Plan



Category
2023		 2024
Est. Initial		 Updated
2024 Guidance		 %Difference
(2023 vs 2024)
Total Capital Expenditure($mm)

      
Production Daily Equivalent(boe/d)

 Click here for More Planned 2024 Activity


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Capital Expenditure - 2019   

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