ADVFN - Advanced Financial Network.
HOME» NYSE » C » COP Stock Price » COP Stock News

Conocophillips Share News

 Conocophillips Stock Price
COP Stock Price
 Conocophillips Stock Chart
COP Stock Chart
 Conocophillips Stock News
COP Stock News
 Conocophillips Company Information
COP Company Information
 Conocophillips Stock Trades
COP Stock Trades

Conoco CEO: Exporting LNG From Lower-48 US States Is Reasonable

HOUSTON -(Dow Jones)- ConocoPhillips (COP) Chief Executive Ryan Lance said that the company stopped investing in its dry natural-gas production in North America, which is seeing its profitability challenged by low prices for natural gas. Conoco continues "to have positive cash flow" in its natural-gas production in North America, Lance told reporters at a press conference following the company's first shareholder meeting as an independent oil and gas producer. But Conoco isn't "investing any capital in that business," he added. "Dry-gas production in our portfolio is declining." Over the long term, however, natural-gas demand in the U.S. will pick up and so will prices, and Conoco will resume investing in that area, Lance said. At the same time "it's probably reasonable to start looking" at exports of liquefied natural gas from the lower-48 U.S., Lance said. "We think there's opportunity given the excess supply situation." Conoco holds a stake in the Golden Pass LNG import terminal in Sabine Pass, La., along with Exxon Mobil Corp. (XOM) and Qatargas, which was planned and built when a shortage of natural gas in North America was expected; but by the time it was finished, a natural gas boom rendered imports moot. "The partners are looking at what to do with that terminal," Lance said, adding that no decision had been made. ConocoPhillips, which began operating as an independent oil and gas producer this month after spinning off its refining and midstream business, is taking a different approach from its integrated predecessor, Lance said. Instead of growing through acquisitions, like the old ConocoPhillips, "we're going to organically going to grow this company," he said. -By Angel Gonzalez, Dow Jones Newswires; 281-536-3064;angel.gonzalez@dowjones.com

Stock News for Conocophillips (COP)
DateTimeHeadline
07/24/201513:21:23Initial Statement of Beneficial Ownership (3)
07/19/201519:44:11Sales of Bonds With Floating Rates Sink
07/16/201517:30:09ConocoPhillips Boosts Dividend, Cuts Deepwater Spending
07/16/201517:23:07ConocoPhillips Increases Dividend But Cuts Deepwater Spending
07/16/201516:15:00ConocoPhillips Announces Dividend Increase and Reductions in...
07/16/201509:20:00Independent Oil and Gas Industry Equities Technical Analysis...
07/13/201511:07:02Could ConocoPhillips' Stock Really Be Worth $82 Per Share?
07/09/201515:00:00ConocoPhillips to Hold Second-Quarter Conference Call on Thursday...
07/09/201510:38:27Correction to Seplat, Niger Delta story
07/09/201505:10:28Seplat Presses Ahead With Possible Niger Delta Acquisition
07/06/201510:05:025 Stocks to Watch in Commodities
07/02/201512:08:03Statement of Changes in Beneficial Ownership (4)
07/02/201512:03:55Statement of Changes in Beneficial Ownership (4)
07/02/201512:00:58Statement of Changes in Beneficial Ownership (4)
07/02/201511:59:13Statement of Changes in Beneficial Ownership (4)
06/30/201517:02:03A Look at What's Fueling ConocoPhillips' Big Shift
06/23/201514:21:07Annual Report of Employee Stock Plans (11-k)
06/17/201514:00:023 Stock Market Tips for Investing in Oil
06/12/201502:55:11Canadian Oil-Sands Operations Resume After Forest-Fire-Related...
06/11/201512:26:3410 Most Profitable Businesses in Texas

Conocophillips and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad