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PS - ConocoPhillips deepens North American output curtailments - May 2020

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ConocoPhillips now plans to curtail a gross 265,000 bo/d (230,000 bo/d net) from its Lower 48 operations and Surmont project in Canada during May, up from a prior target of 225,000 bo/d. In June, the company will curtail 460,000 bo/d from the Lower 48 (260,000 bo/d), Surmont (100,000 bo/d) and Alaska (100,000 bo/d). On a net basis, June curtailments total 420,000 bo/d, or about 30% of Conoco’s output. Conoco’s Q1 production fell by 3%......
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