ConocoPhillips beats by $0.01; provides FY18 production guidance (58.81)
- Reports Q4 (Dec) earnings of $0.45 per share, $0.01 better than the Capital IQ Consensus of $0.44.
- Preliminary 2017 year-end proved reserves are 5.0 billion barrels of oil equivalent. The total reserve replacement ratio, including a reduction of 1.9 billion BOE from dispositions, is expected to be a negative 168 percent. Excluding disposition impacts, the organic reserve replacement ratio is expected to be a positive 200 percent. Excluding disposition impacts and market factors, replacement from net additions is expected to be a positive 117 percent.
- Full-year 2018 production is expected to be 1,195 to 1,235 MBOED. This results in approximately 5 percent growth compared with full-year 2017 underlying production, which excludes disposition impacts of 191 MBOED. First-quarter 2018 production is expected to be 1,180 to 1,220 MBOED. Production guidance for 2018 excludes Libya