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ConocoPhillips highlights progress on plans for production and margin growth at Annual Meeting of Stockholders


Published May 14, 2014
ConocoPhillips

ConocoPhillips held its Annual Meeting of Stockholders where it reaffirmed its goal to deliver double-digit annual returns to shareholders.

“ConocoPhillips is set for growth,” said Chairman and Chief Executive Officer Ryan Lance. “Our goal is to deliver 3 to 5 percent growth in both volumes and margins, with a compelling dividend. We believe there is clear demand for this kind of energy stock.”

At the meeting, the company highlighted several key accomplishments in its first two years as an E&P company. These include: generating proceeds of $12.4 billion from the sale of non-core assets; delivering several major project startups; ramping up development drilling programs, primarily in the unconventionals; participating in four deepwater Gulf of Mexico exploration successes; and achieving a two-year average of 167 percent organic reserve replacement ratio. The company also raised its dividend in 2013 and remains committed to increases over time.

Tags: ConocoPhillips




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