ConocoPhillips Q3 net income decreases

US-based integrated oil and gas company ConocoPhillips has reported a net income of $1.5 billion, or $1 per share, for the third quarter of 2009, compared to $5.2 billion, or $3.39 per share, for the same period of 2008.

The company has reported revenues and other income of $41.3 billion for the third quarter of 2009, compared to $71.37 billion for the same quarter of 2008.

ConocoPhillips has reported a net income of $3.64 billion, or $2.43 per share, for the first nine months of 2009, compared to a net loss of $16.99 billion, or $11.16 per share, for the corresponding period of 2008.

Year-to-date revenues and other income was $109.21 billion, compared to $246.18 billion for the first nine months of 2008.

Jim Mulva, chairman and CEO of ConocoPhillips, said: "Our refocused exploration program is delivering strong results so far in 2009. During the third quarter, the BP-operated Tiber discovery was announced. This is our second discovery in the Lower Tertiary play in the Gulf of Mexico in 2009, and we are currently drilling the Rickenbacker prospect."

http://www.datamonitor.com
Republication or redistribution, including by framing or similar means,
is expressly prohibited without prior written consent. Datamonitor shall 
not be liable for errors or delays in the content, or for any actions 
taken in reliance thereon

Related terms: ceo, exploration, gasoline, mexico