ConocoPhillips (COP) Announces 2019 Capital Budget and Operating Plan
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ConocoPhillips Announces 2019 Capital Budget and Operating Plan; Recent Oil Price Volatility Highlights Investment Appeal of Company’s Differentiated Value Proposition
December 10, 2018 7:30 AM ESTHOUSTON--(BUSINESS WIRE)-- ConocoPhillips (NYSE: COP) today announced its 2019 capital expenditure budget and operating plan. The operating plan reflects the companys ongoing commitment to free cash flow generation, differentiated payout to shareholders and superior financial returns through business cycles. The 2019 operating plan is expected to continue driving underlying improvement in return on capital employed. Key highlights are:
Planned 2019 capital expenditures of $6.1 billion result in free cash flow at prices above $40 per barrel WTI; Increased target payout to shareholders to greater than 30 percent of cash from operations from 20-30... More