ConocoPhillips (COP) Sees $7.7B Capital Budget for 2016; Updates on Plans
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ConocoPhillips Announces 2016 Operating Plan and Capital Budget of $7.7 Billion; Expects $2.3 Billion from Asset Dispositions
December 10, 2015 8:00 AM ESTHOUSTON--(BUSINESS WIRE)-- ConocoPhillips (NYSE: COP) today announced its 2016 operating plan. Key highlights from the plan include:
$7.7 billion capital budget; 1 to 3 percent production growth, adjusted for asset sales; and $7.7 billion of operating costs.Chairman and Chief Executive Officer Ryan Lance commented, Were setting an operating plan for 2016 that recognizes the current environment, which remains challenging. We are significantly reducing capital and operating costs, while maintaining our commitment to safety and asset integrity. We also retain the... More
