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ConocoPhillips vows financial discipline as it aims to boost output

Reuters  |  NEW YORK 

By Ernest ScheyderNEW YORK (Reuters) - ConocoPhillips said on Wednesday it will boost oil and natural gas output for the rest of the decade but vowed it would do so only when it was financially prudent and that it would strictly adhere to shareholder returns. The largest U.S. independent oil and natural gas producer plans to spend an average of $5.5 billion annually for the next three years as long as oil prices stay above $50 per barrel."Our value proposition is not built around production growth. It is built around returns," Chief Executive Ryan Lance said in an interview on the ...

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First Published: Thu, November 09 2017. 01:53 IST