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Permian Basin Oil and Gas Magazine

PBOG is the Official Publication of the Permian Basin Petroleum Association and is published monthly by Zachry Publications, LP.

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Conoco achieves record output in lower 48, including 709,000 boed from Permian

August 8, 2023 by PBOG

Houston-based ConocoPhillips said last week its lower 48 delivered record production of 1.063 million boed in 2023Q2, including 709,000 boed from Permian Basin and 235,000 boed from Eagle Ford in south Texas.  Company production for 2Q was 1,805,000 boed – an increase of 113,000 boed from 2022Q2.  Third quarter production is forecast at 1.78 million to 1.82 million boed, and fullyear production is expected to be 1.80 million to 1.81 million boed (compared to prior guidance of 1.78 million to 1.80 million boed).

Ryan Lance, chairman and CEO, said, “The second quarter demonstrated our strong underlying performance and commitment to advancing the returns-focused value proposition we shared … in April.  We achieved record production and increased our fullyear production guidance for the second consecutive quarter.”

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