ConocoPhillips Issues Preliminary Q3 Operational Update - Quick Facts

(RTTNews) - ConocoPhillips (COP) said it expects to report third-quarter production volumes of 1,050 to 1,070 thousand barrels of oil equivalent per day (MBOED). The company said this estimate reflects the impact of third-quarter curtailments and planned seasonal turnaround activity. Curtailments were approximately 90 MBOED on a net basis, for the quarter. The estimated cash from operations of the curtailed volumes is approximately $150 million. Total average realized prices are anticipated to be $30 to $32 per barrel of oil equivalent (BOE) for the third quarter.

ConocoPhillips also announced it intends to resume share repurchases of $1 billion during the fourth quarter under its existing authorization. The repurchases will be funded from available cash on the balance sheet.