Profits in Eagle Ford a 'real bright spot' for ConocoPhillips

摘要

Performance in ConocoPhillips Co.'s so-called Big Three areas in the Lower 48, where production grew 20% year-on-year during first-quarter 2018, is driving growth for the company. The Houston-based E&P reported its earnings jumped to S888 million during first-quarter 2018, up from $586 million a year ago. The gains were attributed to higher crude prices, lower depreciation expenses and cuts in exploration expenses with production growth also coming from the U.K., Alaska and Indonesia. Production in the Eagle Ford shale play was 163,000 boe/d with 68,000 boe/d in the Bakken and 19,000 boe/d in the Delaware Basin.