uploads///COP Q Lifting Costs

Analyzing ConocoPhillips’s Lifting Costs


Jan. 12 2017, Updated 9:06 a.m. ET

What are lifting costs?

Lifting costs, also referred to as production costs, are expenses incurred to operate wells during production. Lifting costs also include any maintenance expenses during a well’s production lifespan after drilling is complete. Lifting cost is derived by adding LOE (lease operating expenses), workover costs, and production taxes.

Article continues below advertisement

ConocoPhillips’s lifting costs

In 3Q16, ConocoPhillips (COP) reported lifting costs of ~$11.78 per boe (barrel of oil equivalent), which is ~17.0% lower than 3Q15. Sequentially, ConocoPhillips’s lifting costs in 3Q16 rose ~1.0% compared to 2Q16.

Other upstream players

S&P 500 (SPY) upstream companies such as California Resources (CRC) and Murphy Oil (MUR) have lifting costs of $16.78 and $8.26 per boe, respectively. Stone Energy (SGY), a smaller player, has a lifting cost of $7.91 per boe.


More From Market Realist

    • CONNECT with Market Realist
    • Link to Facebook
    • Link to Twitter
    • Link to Instagram
    • Link to Email Subscribe
    Market Realist Logo
    Do Not Sell My Personal Information

    © Copyright 2021 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.