ConocoPhillips earnings jump amid higher output

Ryan Lance, ConocoPhillips CEO

U.S. oil major ConocoPhillips reported an increase in its quarterly earnings on the back of higher output when compared to the prior-year period. 

ConocoPhillips on Tuesday reported first-quarter 2019 earnings of $1.8 billion compared with first-quarter 2018 earnings of $0.9 billion. Excluding special items, first-quarter 2019 adjusted earnings were $1.15 billion compared with first-quarter 2018 adjusted earnings of $1.14 billion.

The company’s first-quarter production excluding Libya was 1,318 MBOED, an increase of 94 MBOED compared with the same period a year ago. Year-over-year underlying production grew 5 percent overall and 13 percent on a per debt-adjusted share basis…..

Source: ConocoPhillips earnings jump amid higher output