U.S. oil and gas company ConocoPhillips’ quarterly profit shot ahead of analysts’ estimates on Tuesday, as higher shale production offset the impact from lower crude prices and higher exploration costs. Total production, excluding Libya, rose 98,000 barrels of oil equivalent per day (boe/d) to 1.322 million boe/d, with output from U.S. basins including Eagle Ford, Bakken and the Permian rising 21% in the quarter. ConocoPhillips said the total realized price per barrel of oil equivalent fell 18% to $47.07 in the quarter. …read more
Source:: Yahoo Finance
