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.

Copyright 2017 Thomson Reuters. Click for Restrictions.

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE



Most Popular Articles

From the Career Center
Jobs that may interest you
Field Specialist
Expertise: Field Development|Field Service Tech
Location: Dickinson, ND
 
Field Technician Intern
Expertise: Field Development
Location: Charlotte, NC
 
United States Rock Springs: Entry Level to Senior Field Engineer - Logging
Expertise: Petroleum Engineering
Location: Rock Springs, WY
 
search for more jobs

Brent Crude Oil : $51.46/BBL 4.63%
Light Crude Oil : $48.9/BBL 4.78%
Natural Gas : $3.18/MMBtu 0.90%
Updated in last 24 hours