ConocoPhillips

ConocoPhillips today announced its 2016 operating plan. Key highlights from the plan include: – $7.7 billion capital budget; – 1 to 3 percent production growth, adjusted for asset sales; and – $7.7 billion of operating costs. Chairman and Chief Executive Officer Ryan Lance commented, “We’re setting an operating plan for …

ConocoPhillips have confirmed they will be sending a delegation to the UOR, Unconventional Oil Russia Technology Conference. Taking place in May 2014, the Unconventional Oil Russia Technical Conference, UOR, will become Russia’s leading forum on technology adoption and implementation for the development of unconventional, tight oil and shale oil plays. To visit the event site please click here

Kazakhstani state player KazMunaiGas has reportedly acquired a 24.5% stake in the Nursultan offshore oil block from ConocoPhillips, giving it a 75.5% stake in the Caspian Sea concession. The offshore Kazakh block’s estimated reserves run to around 2.13 billion barrels of oil, with commercial production at the field set to start …

ConocoPhillips announced today that, as part of its ongoing strategy to reposition its asset base, it has closed a transaction with LUKOIL for the sale of ConocoPhillips’ indirect 30 percent interest in NaryanMarNefteGaz (NMNG) and certain related assets. Financial terms of the transaction were not disclosed. ConocoPhillips said it expects …

LUKOIL announced today that it has acquired ConocoPhillips’ indirect 30 percent interest in Naryanmarneftegaz (NMNG) and certain related assets. ConocoPhillips indirectly owned 30% in NMNG. The acquisition brings LUKOIL’s total ownership interest in NMNG to 100%. Financial terms of the transaction were not disclosed. In view of the sale of …