January 31, 2019 / 12:10 PM / 6 months ago

ConocoPhillips adjusted profit surges

Jan 31 (Reuters) - ConocoPhillips, the world’s largest independent oil producer, reported a surge in quarterly adjusted profit on Thursday, helped by higher production and realized prices for its crude.

Total production, excluding Libya, rose 94,000 barrels of oil equivalent per day (boe/d) to 1.31 million boe/d.

In the first quarter of 2019, the company expects to produce 1.29 million boe/d to 1.33 million boe/d.

The company said adjusted net income rose to $1.31 billion, or $1.13 per share, in the fourth quarter ended Dec. 31, from $540 million, or 45 cents per share, a year earlier. (Reporting by Debroop Roy in Bengaluru; Editing by Maju Samuel)

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