Houston-based ConocoPhillips said last week production for 4Q in 2023 was 1.902 million boed. That’s an increase of 144,000 boed from the same period in 2022 and up from 1.806 million boed in 3Q. Lower 48 delivered 1.086 million boed, including 750,000 boed from Permian Basin and 211,000 boed from Eagle Ford.
Production in 2024Q1 is forecast at 1.88 million to 1.92 million boed with fullyear production of 1.91 million to 1.95 million boed. Capital expenditures for 2024 are expected to be $11 billion to $11.5 billion.
ConocoPhillips said fullyear production in 2023 was a record 1.826 million boed, including a record 1.067 million boed from lower 48.
Ryan Lance, chairman and CEO, said Feb. 8, “During 2023 ConocoPhillips continued to demonstrate strong financial and operational performance, executing on our returns-focused value proposition. We achieved record production, reached several key milestones across our global operations and returned $11 billion to shareholders.”