Boston, MA 05\/22\/2014 (wallstreetpr) \u2013 ConocoPhillips<\/b> (NYSE:COP)<\/b> is an exploration and production giant, which is reaping the rewards of its independence. The benefits of being unchained from refining are showing in its results, Conoco is now purely an upstream company. COP has a lot to offer to its investors in the way of growth and hefty dividends. ConocoPhillips will be able to post good results because of the following reasons.<\/p>\n
\u00a0Focus on Oil Production<\/b><\/p>\n
\u00a0<\/b>Like many integrated energy companies, who are busy trying to turn around their refineries. COP is simply focusing on increasing its production of oil and gas. ConocoPhillips (NYSE:COP) is having a good foothold is some of the prime areas of production in the United States, like Permian Basin and Eagle Ford which are onshore fields, the Gulf of Mexico, which is a deep water production site.<\/p>\n
\u00a0Focusing heavily on oil production is showing good results. The company\u2019s first quarter oil production jumped 16% year over year, this was achieved because of its strong assets. The new peak production rate was achieved in the Eagle Ford. The production hit a new high at 163,000 barrels a day. The production from both the onshore site, i.e. Permian Basin and Eagle Ford has soared 41% year on year.<\/p>\n
\u00a0Expanding Profits<\/b><\/p>\n
The company’s decision to focus on oil production is paying rich dividends in two ways. The production is increased on an absolute basis, ConocoPhillips (NYSE:COP) profit margins have also grown. The solid overall results were achieved in the first quarter as the company realized an average price per barrel of $71.21; the cash margin per barrel improved by 13%.<\/p>\n
The management attributes this profit to its portfolio shift, and strong operational performance in terms of increased production. The management further stated that growth will be there throughout the year.\u00a0ConocoPhillips (NYSE:COP) good times aren’t ending yet because it is expanding its inventory in an organic way. The company is including a new rig in the Permian Basin and increasing their rig counts in Alaska.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 05\/22\/2014 (wallstreetpr) \u2013 ConocoPhillips (NYSE:COP) is an exploration and production giant, which is reaping the rewards of its independence. The benefits of being […]<\/p>\n","protected":false},"author":2,"featured_media":23254,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236],"tags":[955,5695,956],"stock_ticker":[],"class_list":["post-23253","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-conocophillips","tag-conocophillips-nysecop","tag-nysecop","entry"],"acf":[],"yoast_head":"\n