ConocoPhillips Cuts Output Forecast On Weather



Reuters

Jan 7 (Reuters) - U.S. oil and gas company ConocoPhillips said on Tuesday its fourth-quarter oil and gas production will be lower than expected as severe weather disrupted its operations in parts of the United States and the North Sea.

The extreme cold that has blanketed much of the United States has interrupted truck traffic and stranded some wells in recent days. Conoco also reduced its output at its huge Ekofisk field in the North Sea last month due to stormy weather in that region.

Conoco said its fourth-quarter output from continuing operations is expected to be 1.475 million barrels oil equivalent per day (boed), down from its prior forecast for 1.485 to 1.525 million boed.

The Houston-based company said weather disruptions are not expected to have a long-term effect on output and production this year is still expected to be about 1.6 million boed.



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