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Tag Archives: ConocoPhillips

ConocoPhillips adds to rigs to the Eagle Ford

Eagle Ford news, rig count, oil

ConocoPhillips, a leading independent oil exploration and production company, plans to add two drilling rigs to its Eagle Ford operations as it pivots investment away from deepwater projects toward onshore shale fields, company executives said Thursday. The announcement came during the Houston-based company’s third-quarter earnings call. The rig count, the number of active drilling rigs, in the Eagle Ford peaked ...

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First oil flows from Alaska reserve set aside in ’23

This Feb. 9, 2016, photo shows a million-pound drilling rig at the CD5 drilling site on Alaska's North Slope. ConocoPhillips in October 2015 became the first to drill for oil in the National Petroleum Reserve-Alaska, a region the size of Indiana set aside by President Warren G. Harding in 1923. Getting to this point took compromises with Alaska Natives while keeping environmental concerns in mind. (AP Photo/Mark Thiessen)

NUIQSUT, Alaska (AP) — Rising from the edgeless, wind-scoured, snow-covered tundra on Alaska’s North Slope lies a million-pound drilling rig pulling the first commercial oil from a reserve set aside nearly a century ago. ConocoPhillips is the first oil company to draw crude from the National Petroleum Reserve-Alaska, an area the size of Indiana which President Warren G. Harding dedicated ...

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Utilities seek ConocoPhillips stake in Cook Inlet gas field

Utilities seek ConocoPhillips stake in Cook Inlet gas field

ANCHORAGE, Alaska — Two Anchorage-based utility companies have teamed up to purchase a portion of a Cook Inlet gas field under a $152 million deal with ConocoPhillips. Anchorage Municipal Light and Power and Chugach Electric Association are looking to buy ConocoPhillips’ stake in the Beluga River Unit about 35 miles west of Anchorage. The deal announced Monday calls for ML&P ...

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ConocoPhillips posts 4th-quarter loss, slashes dividend

ConocoPhillips

HOUSTON — ConocoPhillips posted a wider-than-expected loss in the fourth quarter and slashed its quarterly dividend by 66 percent as oil prices continue to drop. The energy company’s stock fell 4 percent before the market open on Thursday. ConocoPhillips said it is lowering its dividend to 25 cents per share from 74 cents per share. The dividend is payable on ...

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Energy companies ready to ship oil abroad

Energy companies ready to ship oil abroad

Less than a month after President Barack Obama signed a bill abolishing America’s crude export ban, energy companies are positioning themselves to ship American oil overseas. The first oil tanker left Corpus Christi on New Year’s Eve and is expected to arrive in Italy on Jan. 20. ConocoPhillips produced the oil from Eagle Ford Shale in Texas. The crude will ...

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Oil exports could bolster Eagle Ford – eventually

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The first oil exports from the United States left the Port of Corpus Christi on Thursday afternoon aboard the “Theo T” tanker heading for Europe just weeks after Congress repealed the nearly 40-year-old export ban. The exports — using Eagle Ford oil pumped by ConocoPhillips and transported by NuStar Energy — mark a momentous change in the midst of one ...

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ConocoPhillips capital budget cuts for 2016 largely spare Alaska

ConocoPhillips is one of the oil companies operating in Alaska, and a partner with the state in a planned natural gas pipeline

ConocoPhillips has laid out its global plans for the next year, with its base capital spending levels in Alaska falling — but its overall investment in-state remaining static due to a series of projects. In its 2016 operating plan unveiled Thursday, the firm — one of the “Big Three” oil companies operating in Alaska, and a partner with the state ...

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ConocoPhillips to lower spending, sell assets amid oil slump

ConocoPhillips to lower spending, sell assets amid oil slump

ConocoPhillips <COP.N>, the largest U.S. independent oil company, plans to reduce capital spending by 25 percent next year and sell more non-core assets as it looks to shore up its finances amid a prolonged slump in oil prices. The company’s shares rose as much as 3 percent on Thursday, after it said it would cut capital spending to $7.7 billion ...

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ConocoPhillips to cut spending due to falling oil prices

ConocoPhillips to cut spending due to falling oil prices

NEW YORK — ConocoPhillips said it plans to slash spending on projects by 25 percent next year as the energy company and its rivals deal with plunging oil prices. The Houston company said it expects to spend $7.7 billion in 2015, down from the $10.2 billion it expects to spend this year. The money is used for oil exploration, drilling ...

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