ConocoPhillips intends to continue trimming down its natural gas production in the U.S., citing weak prices for the commodity. The company expects "continued gas shut-ins in North America of around 9,000 [barrels of oil equivalent] per day due to low gas prices," said Chief Financial Officer Jeff Sheets. Conoco also expects to make the final investment decision for its Australian liquefied natural gas project in the second quarter.

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