ConocoPhillips (COP) Still Has No Time Frame for Commencing Alaska Ops
Tweet
Share
E-mailGet Alerts COP Hot Sheet
Price: $116.98 +1.40%
EPS Growth %: +107.7%
Financial Fact:
Net income: -1.03B
Today's EPS Names:
PLCE, COE, JVA, More
EPS Growth %: +107.7%
Financial Fact:
Net income: -1.03B
Today's EPS Names:
PLCE, COE, JVA, More
Join SI Premium – FREE
ConocoPhillips (NYSE: COP) is flat on lighter volume Thursday following solid Q1 results, but mixed expectations.
During the company's quarterly call today, ConocoPhillips executives also declined to give a timeline on the company's Arctic drilling plans. Chief Financial Officer Jeff Sheets said the company would need more time to understand regulatory framework before drilling in the Chukchi Sea. Sheets commented that 2015 drilling might be possible, but nothing is in ink yet.
Mostly, concerns center around whether ConocoPhillips would be able to pull permits necessary to commence shipments of rigs and equipment.
ConocoPhillips previously expressed skipping the summer drilling season.
In addition to Alaska commentary, ConocoPhillips also noted that there was no timeline on a sales of Canadian oil-sands assets.
ConocoPhillips said today in its quarterly release that, "second-quarter 2013 production from continuing operations is expected to be 1,440 to 1,470 MBOED, reflecting previously announced planned downtime and turnaround activity. Production from discontinued operations is expected to be approximately 40 MBOED for the second quarter of 2013. Full-year 2013 production from continuing operations is expected to be 1,485 to 1,520 MBOED."
During the company's quarterly call today, ConocoPhillips executives also declined to give a timeline on the company's Arctic drilling plans. Chief Financial Officer Jeff Sheets said the company would need more time to understand regulatory framework before drilling in the Chukchi Sea. Sheets commented that 2015 drilling might be possible, but nothing is in ink yet.
Mostly, concerns center around whether ConocoPhillips would be able to pull permits necessary to commence shipments of rigs and equipment.
ConocoPhillips previously expressed skipping the summer drilling season.
In addition to Alaska commentary, ConocoPhillips also noted that there was no timeline on a sales of Canadian oil-sands assets.
ConocoPhillips said today in its quarterly release that, "second-quarter 2013 production from continuing operations is expected to be 1,440 to 1,470 MBOED, reflecting previously announced planned downtime and turnaround activity. Production from discontinued operations is expected to be approximately 40 MBOED for the second quarter of 2013. Full-year 2013 production from continuing operations is expected to be 1,485 to 1,520 MBOED."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Nvidia pitches Vera CPU to Chinese clients with August delivery target
- United Community Banks sells equipment finance unit for $1.9 billion
- Carvana (CVNA) PT Lowered to $85 at RBC Capital
Create E-mail Alert Related Categories
Conference Calls, Guidance, Insiders' Blog, Management CommentsRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
