ConocoPhillips 1Q Profit, Output Lower

Commodities Reuters

ConocoPhillips reported lower quarterly earnings on Thursday as oil and natural gas production edged down along with crude prices.

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Conoco had a first-quarter profit of $2.1 billion, or $1.73 per share, down from $2.9 billion, or $2.27 per share, a year earlier.

Oil and gas output from continuing operations was 1.56 million barrels oil equivalent (boe) per day, down slightly from 1.58 million boe per day a year earlier.