ConocoPhillips will not chase expensive Permian deals, CEO says


ConocoPhillips will not chase expensive Permian deals, CEO saysConocoPhillips Chief Executive Officer Ryan Lance on Tuesday repeated a pledge to restrain spending, saying the U.S. oil producer would not be drawn into pricey mergers and acquisitions. ConocoPhillips plans to keep its capital spending at around $6 billion this year, Lance told shareholders at the company's annual meeting. ConocoPhillips has won billions of dollars in arbitration awards over the expropriation of its assets in Venezuela and posted a first-quarter profit that topped estimates.



Tags: Science, Venezuela, ConocoPhillips, Lance, Ryan Lance

Source:  https://news.yahoo.com/conocophillips-not-chase-expensive-permian-deals-ceo-says-162355938--finance.html