ConocoPhillips Raises Capital-Spending Forecast
July 30 2019 - 6:55AM
Dow Jones News
By Micah Maidenberg
ConocoPhillips (COP) said Tuesday it now expects $6.3 billion in
capital expenditures this year, up from a prior forecast of $6.1
billion.
The oil producer believes that spending will rise compared with
its earlier forecast due to additional exploration work and
drilling in Alaska, as well as the addition of a drilling rig in
the Eagle Ford production region of Texas.
Conoco also said it expects third-quarter production of 1.29
million to 1.33 million barrels of oil equivalent a day.
Write to Micah Maidenberg at micah.maidenberg@wsj.com
(END) Dow Jones Newswires
July 30, 2019 07:40 ET (11:40 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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