Thursday, April 28, 2016

ConocoPhillips Posts Loss In Q1; Reduces 2016 Capex Guidance

ConocoPhillips (COP) reported a first-quarter net loss to company of $1.5 billion, or $1.18 per share, compared to profit of of $272 million, or $0.22 per share, previous year. Special items for the quarter were related to non-cash impairments in the Gulf of Mexico and United Kingdom and pension settlement expense.

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