ConocoPhillips: Increasing Focus On Permian Gas & LNG Expansion!

The latest earnings for ConocoPhillips for Q1 2024 showcased the company’s steady execution of its strategic plan inclusive of new projects and capital-efficient growth within the lower 48 states, with expectations of low single-digit production growth while spending less capital than the prior year. Starting with the global portfolio, ConocoPhillips ramped up production at Surmont Pad 267 in Canada, Bohai Bay 4B in China, and three subsea tiebacks in Norway, with another subsea tieback in Norway expected to start within the next month. Production at Montney, Canada reached a record level, motivated by the startup of the second central processing facility. This led to over 20% growth versus Q4 2023.