COP’s disposition-adjusted production comparison
In the last year, ConocoPhillips’s dispositions reflect the impact from asset sales in the Lower 48, Canada, Polar Lights, and Alaska. Due to these dispositions, COP’s production was impacted by 70 Mboepd in the last year.
Lower downtime in 4Q16 contributed positively to the quarter’s production by 13 Mboepd. When adjusted for dispositions and downtime, COP’s 4Q16 production is higher by 45 Mboepd.
Other upstream players
In 2016 and 2017, upstream companies Marathon Oil (MRO), Southwestern Energy (SWN), and Murphy Oil (MUR) carried out asset dispositions in order to raise cash, allowing them to deal with lower energy prices.
In the next part, we’ll take a look at COP’s 2017 production guidance and how it could be affected by recent Canadian divestitures.