CLAIM #16423 · ConocoPhillips (COP) · 2024Q3 earnings call · Oct 31, 2024 · due Dec 31, 2024
“In fact, we expect it to be, on the margin, several thousand barrels a day associated with those transactions.”
Kirk Johnson · SVP of Global Operations
In context
“oing to be, again, pretty consistent, 52%, 53% overall. We're very satisfied with how things are tracking. And as a reminder, too, for Lower 48 this year, we grew at 5% year-over-year. Andy O'Brien : I'd just add, I think you sort of answered the question for us. And there was nothing particularly unusual in the oil mix this quarter. We just had the large turnaround activity in an asset that's 100% oil. Operator: Our next question comes from Phillips Johnston with Capital One Securities. Phillips Johnston : Just wanted to follow-up an earlier question about the Alaska transactions. Just wondering, how much production is associated with those deals? And I also wanted to confirm just that the impact isn't included in your fourth quarter production guidance. Kirk Johnson : Yes, this is Kirk. In fact, we expect it to be, on the margin, several thousand barrels a day associated with those transactions. And it's a good ask, certainly left that off, which is we're currently expecting those transactions to close in fourth quarter, albeit we haven't formally factored that into our guidance. So expect us to update that as we think about next year. Operator: Our next question comes from Leo Mariani with ROTH. Leo Mariani : Just a couple of questions here just around the guidance here. So wanted to get a sense if you guys could quantify what you're expecting in the fourth quarter in terms of production turnarounds as well as CapEx and as well as OpEx here. Andy O'Brien : This is Andy. So in terms of turnarounds, it's -- fourth quarter is a very small turnaround quarter for us. It's about 5,000 barrels a day, predominantly in Norway. I think we've given guidance for OpEx, sort of OpEx guidance”
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SEC filings for COP ↗ · Claim quote is verbatim from the 2024Q3 earnings call.