How Did ConocoPhillips Trounce Big Oil This Quarter?
Aug 9th 2013 11:33AM
Updated Aug 9th 2013 11:36AM
If you were to compare ConocoPhillips earnings to all of the other major oil companies, you wouldn't notice too many differences. All of these companies had weaker prices on foreign-sourced crudes and falling production from regions like the Middle East and Asia. But the reason that ConocoPhillips was able to increase income from last year while ExxonMobil dropped by 57% is the success of ConocoPhillips' operations in North America. Production from places like the Bakken, Eagle Ford, and Permian not only grew, but also commanded higher prices while prices abroad have slipped.
Can ConocoPhillips maintain this big-oil-beating pace? Tune into the video below where Fool.com contributor Tyler Crowe takes a look at ConocoPhillips' strategic decision to focus more on production in the United States and Canada, and asks how this move could translate into growing revenue in the future.
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The article How Did ConocoPhillips Trounce Big Oil This Quarter? originally appeared on Fool.com.Fool contributor Tyler Crowe has no position in any stocks mentioned. You can follow him at Fool.com under the handle TMFDirtyBird, on Google +, or on Twitter, @TylerCroweFool. The Motley Fool recommends Chevron. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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