Conoco Reaps Benefits of Higher Oil Prices; November Should Bring More Answers on Future Growth
ConocoPhillips reported adjusted earnings of $0.2 billion, an improvement from an adjusted loss of $0.8 billion last year largely on higher price realizations and lower depreciation and exploration expense. Underlying production, excluding the impact of dispositions, increased 1.4% and is ahead by 2.4% year to date. It expects full year underlying production growth of 3%, despite reducing its capital spending guidance for the year by 10% to $4.5 billion. Greater detail on future growth and spend...ConocoPhillips is an exploration and production company engaged in exploring for, producing, transporting and marketing crude oil, bitumen, natural gas, liquefied natural gas and natural gas liquids. The company's segments include: Alaska, which operates in Alaska; Lower 48, which operates in the United States and the Gulf of Mexico; Canada, which operates in Alberta and British Columbia; Europe and North Africa, which consists of operations and exploration activities in Norway, the United Kingdom and Libya; Asia Pacific and Middle East, which operates in China, Indonesia, Malaysia, Australia, Qatar, and Timor-Leste; and Other International, which operates in Colombia, Chile and Argentina.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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