Houston—ConocoPhillips and Whiting Petroleum both lowered their 2017 capital budgets as oil prices linger at uncertain low levels, but their CEOs on Thursday said they still foresee healthy production growth this year especially from Lower 48 unconventional plays. The independent producers’ moves followed single-digit capex cuts by Hess and Anadarko Petroleum earlier this week. ConocoPhillips, which began the year with $5 billion capex, chopped off 4 to $4.8 billion but also expects 2 to 4 production growth for this year over 2016, Don Wallette, the company’s Chief Financial Officer, said in a second-quarter earnings conference call.
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