ConocoPhillips raises 2019 capex 3% to $6.3 billion, ramping Alaska activity

摘要

Houston-ConocoPhillips has kicked up its 2019 capital budget 3%, or $200 million, to $6.3 billion to accommodate more exploration and appraisal drilling in Alaska, a contrarian move as most upstream producers are flattening budgets. The company also added a rig in the Eagle Ford Shale of South Texas at midyear, bucking industry trends of rig reductions, ConocoPhillips officials said Tuesday during a Q2 earnings call.