Conoco Boasts $40 Per Barrel Breakeven

It may sound a bit strange amid rising oil prices that one of
the largest oil companies in the world is boasting it can break
even at below US$40 a WTI barrel, but that’s exactly what
ConocoPhillips chief executive Ryan Lance told CNBC. “We can
sustain our production, pay our dividend, below $40 a barrel.
That’s part of the transformation that we’ve been through,” Lance
said on the Power Lunch, adding that this made Conoco an industry
leader in that metric. Last year, CNBC recalls, Conoco offloaded
US$16 billion worth of non-core assets to…

It may sound a bit strange amid rising oil prices that one of
the largest oil companies in the world is boasting it can break
even at below US$40 a WTI barrel, but that’s exactly what
ConocoPhillips chief executive Ryan Lance told CNBC. “We can
sustain our production, pay our dividend, below $40 a barrel.
That’s part of the transformation that we’ve been through,” Lance
said on the Power Lunch, adding that this made Conoco an industry
leader in that metric. Last year, CNBC recalls, Conoco offloaded
US$16 billion worth of non-core assets to…