uploads///COP Q Lifting Costs

A Look at ConocoPhillips’s Lifting Costs

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ConocoPhillips’s lifting costs

In 2Q16, ConocoPhillips (COP) reported lifting costs of ~$11.67 per boe (barrel of oil equivalent), which is ~16% lower than 2Q15.

Lifting costs, also referred to as production costs, are the costs to operate and maintain wells after drilling is completed. Lifting costs are derived by adding LOE (lease operating expenses), workover costs, and production taxes.

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Other upstream players

S&P 500 (SPY) upstream companies such as California Resources (CRC) and Murphy Oil (MUR) have lifting costs of $14.76 per boe and $11.07 per boe, respectively. Another smaller player, Stone Energy (SGY), has lifting costs of $10.07 per boe.

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