ConocoPhillips Expects to Report 1.47 to 1.49 Barrels of Oil Equivalent Per Day for 1Q
March 31 2021 - 9:21AM
Dow Jones News
By Dave Sebastian
ConocoPhillips said it expects to report 1.47 to 1.49 million
barrels of oil equivalent per day for the first quarter and 1.5
million barrels of oil equivalent per day for the year.
The first-quarter estimate includes about 50 thousand barrels of
oil equivalent per day of unplanned weather effects due to Winter
Storm Uri, the crude-oil producer said Wednesday.
Total average realized prices could be between $43 and $45 a
barrel of oil equivalent for the quarter, the company said.
The company said it sees adjusted operating costs of $1.495
billion to $1.565 billion for the first quarter, and $6.2 billion
for the full year. It sees adjusted corporate segment net loss of
$225 million to $275 million for the first quarter and $1 billion
for the full year. It expects capital expenditures of $1.21 billion
to $1.29 billion for the first quarter and $5.5 billion for the
year.
ConocoPhillips also said it expects to report first-quarter
transaction and restructuring-related expenses associated with the
Concho acquisition of about $300 million before tax. It expects to
incur about losses of about $300 million before tax from commodity
hedging positions.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
March 31, 2021 09:06 ET (13:06 GMT)
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