February 4, 2020 / 12:13 PM / 23 days ago

ConocoPhillips reports 36.5% slump in quarterly profit

Feb 4 (Reuters) - U.S. oil and gas producer ConocoPhillips reported a 36.5% fall in adjusted quarterly profit on Tuesday, weighed down by lower output and weak realized prices for crude.

The world’s largest independent oil and gas producer’s adjusted net earnings fell to $831 million, or 76 cents per share, in the fourth quarter ended Dec. 31, from $1.31 billion, or $1.13 per share, a year earlier.

Total production, excluding Libya, fell by 24,000 barrels of oil equivalent per day (boe/d) to 1.289 million boe/d. (Reporting by Shanti S Nair in Bengaluru; Editing by Maju Samuel)

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