ConocoPhillips (COP) Provides Update on Production Curtailment Activities

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Go back to ConocoPhillips (COP) Provides Update on Production Curtailment Activities

ConocoPhillips Provides Update on Production Curtailment Activities

June 30, 2020 8:30 AM EDT

HOUSTON--(BUSINESS WIRE)-- ConocoPhillips (NYSE: COP) today announced its estimated production curtailment impacts for the second quarter of 2020 and provided comments on future curtailments.

For the second quarter of 2020, the companys curtailments were primarily related to oil production and averaged approximately 225 thousand barrels of oil equivalent per day (MBOED) on a net basis. Of the total net curtailments, approximately 65 percent were in the Lower 48, 15 percent were in Alaska and 15 percent were in the Surmont operation in Canada. The remainder of the second-quarter curtailments were primarily in Malaysia. Including impacts from curtailments and... More