ConocoPhillips allots most of 2010 budget to exploration, production

12/2/2009 | Oil & Gas Journal

ConocoPhillips cleared its capital program of $11.2 billion for next year, which indicates a 10% drop from the company's estimated expenses for 2009. ConocoPhillips said 86% of its capital spending would be allocated for exploration and production, while 12% would go to its refining and marketing segments.

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