LNG / CNG | Quarterly / Earnings Reports | Production | Third Quarter (3Q) Update | LNG Projects | Forecast - Production
Conoco's Production Remains Level YOY; Touts Europe, Alaska Ops
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ConocoPhillips reported its Q3 2016 results.
Highlights: Achieved third-quarter production of 1,557 MBOED; increasing the midpoint of full-year production guidance to 1,565 MBOED (This is comparable to Q2 2016 production of 1,546 MBOED and to its YOY production from 2015 - 1,554 MBOED). Continued efficiencies further reducing 2016 capital expenditures guidance from $5.5 billion to $5.2 billion; shifting capital from major projects to Lower 48 unconventionals. Improved production and operating expenses by 17 percent year over year, resulting in full-year guidance of $5.7 billion; improved adjusted operating costs by 18 percent year over year; further lowering full-year adjusted operating cost guidance from $6.8 billion to $6.6 billion. Safely executed third-quarter major turnaround…- ✓ Full news archive — U.S., Canada & international coverage
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