ConocoPhillips Raises FY23 Production Guidance to 1.80 - 1.81 MMBOED, From 1.78 - 1.80 MMBOED Prior
Portfolio Pulse from Benzinga Newsdesk
ConocoPhillips has raised its FY23 production guidance to 1.80 - 1.81 MMBOED, up from the previous 1.78 - 1.80 MMBOED. The company also updated its 2023 adjusted operating cost guidance to $8.3 billion, up from $8.2 billion, and its depreciation, depletion, and amortization guidance to $8.2 billion, up from $8.1 billion. The guidance for adjusted corporate segment net loss has been lowered to $0.8 billion from $0.9 billion, and the capital guidance range has been narrowed to $10.8 to $11.2 billion.
August 04, 2023 | 12:58 pm
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ConocoPhillips has raised its FY23 production guidance, which could indicate confidence in its operations and potentially lead to increased investor interest. However, the company also increased its operating cost and depreciation guidance, which could impact profitability.
The raised production guidance indicates that ConocoPhillips expects to produce more oil in FY23, which could lead to increased revenues. However, the increased operating cost and depreciation guidance could mean higher expenses, which could impact the company's profitability. The lowered net loss guidance indicates that the company expects to reduce its losses, which could be a positive sign for investors.
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