ConocoPhillips Reports Higher Earnings and Cash Flow; Increasing Fair Value Estimate
ConocoPhillips reported a slight increase in first-quarter earnings to $1,148 million from $1,136 million a year ago. Despite lower benchmark oil and natural gas prices, ConocoPhillips' per barrel realizations increased thanks to higher LNG and bitumen prices. Production, excluding Libya, increased to 1,318 mboed from 1,224 mboed last year, or 5% excluding assets acquisitions, thanks to continued growth in the unconventional business and major projects in Alaska, Europe, and Asia-Pacific. Full-y...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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