ConocoPhillips Updates Fourth-Quarter 2013 Production Guidance and Announces Fourth-Quarter 2013 Conference Call
HOUSTON – ConocoPhillips (NYSE: COP) provided an update on fourth-quarter production guidance. The recent quarter’s average production was negatively impacted by significant weather-related downtime in several operational areas, notably in the Lower 48 and the North Sea. As a result, fourth-quarter production for continuing operations is expected to be approximately 1,475 thousand barrels of oil equivalent per day (MBOED). There has been no long-term impact to production from this weather-related downtime and 2014 guidance for continuing operations remains unchanged at approximately 1,600 MBOED. This 2014 production estimate includes 50 MBOED from the Es Sider Terminal in Libya, which continues to be offline due to regional conflicts.
The company will provide details on its fourth-quarter and full-year 2013 financial, operating and reserve replacement results during a conference call webcast on Thursday, Jan. 30, 2014, at 1 p.m. EST. The company’s earnings will be released before the market opens on Jan. 30.
To access the webcast, visit ConocoPhillips’ Investor Relations site, www.conocophillips.com/investor, and click on the “Register” link in the Investor Presentations pod. You should register at least 15 minutes prior to the start of the webcast. The event will be archived and available for replay later the same day. The presentation, along with a transcript, will also be available on the Investor Relations site.
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ConocoPhillips is the world’s largest independent E&P company based on production and proved reserves. Headquartered in Houston, Texas, ConocoPhillips had operations and activities in 29 countries, $55 billion in annualized revenue, $120 billion of total assets, and approximately 18,000 employees as of Sept. 30, 2013. Production from continuing operations averaged 1,511 MBOED for the nine months ended Sept. 30, 2013, and proved reserves were 8.6 billion BOE as of Dec. 31, 2012. For more information, go to www.conocophillips.com.
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