CLAIM #16029 · ConocoPhillips (COP) · 2022Q1 earnings call · May 5, 2022 · due Jun 30, 2022
“So Q2, we've got a fairly large turnaround activity, both in Norway nonoperated and operated as well as Surmont. So that will average about 35,000 barrels a day for Q2. And then we have less activity in Q3, and that's focused on Alaska, Train 2, APLNG, and then Montney and Canada and that will be 15,000 for Q3.”
Nick Olds · Executive
In context
“each: Yes, Paul, on the weather question, we had weather impact in all our major basins in the first quarter. It was -- I'm really proud of how the team responded to that. We got things back on fairly quickly. I would say the weather impact, while it affected almost all of our production, it was rather nominal, and we were able to overcome that. As to the second part of your question about up in the Bakken. I think everybody is aware that is probably the most severe winter in recorded history up in North Dakota, and we're still assessing the amount of time it's going to take to bring that back up to full production. So I think the assessment is still going on there. Nicholas Olds: Paul, this is Nick, too. I'll just add on to what Tim was saying related to turnaround impacts for Q2 and Q3. So Q2, we've got a fairly large turnaround activity, both in Norway nonoperated and operated as well as Surmont. So that will average about 35,000 barrels a day for Q2. And then we have less activity in Q3, and that's focused on Alaska, Train 2, APLNG, and then Montney and Canada and that will be 15,000 for Q3. So 35,000, Q2; 15,000 for Q3. Operator: Our next question comes from John Freeman from Raymond James. John Freeman: First question, Ryan, when you were talking about just given everything that's happened in the market, how you have to constantly kind of be evaluating the sort of a 10-year sort of macro and energy transition, demand impact, your view of mid-cycle pricing. And then one of the things that you mentioned that I was hoping you maybe expand a little bit on, as you said, maybe it would possibly change the view of how you think about kind of short cycle versus long cycle production? Ryan Lance: Yes, John, I'm just trying to make the point that I think the transition is not going to be a cliff transition. It's going to be a drawn out one and the pace of that -- the slope of that cu”
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SEC filings for COP ↗ · Claim quote is verbatim from the 2022Q1 earnings call.