Conoco reported major discoveries in its Shenandoah and Coronado prospects in the Gulf of Mexico.
FORBES: ConocoPhillips' New Finds Will Boost Outlook Amid Weaker Production
Conoco offers a solid 4.2 percent yield, and is the lone supermajor in the green year-to-date.
Conoco decided Reilley would be more useful out on the fields managing pipeline workers than pushing pencils.
Rising oil prices would benefit Exxon Mobile (XOM), Conoco Phillips (COP), Chevron (CVX), Schumberger (SLB) and Apache (APA).
The co-director -- the former EPA administrator under George Bush is on leave from the board of Conoco-Phillips.
Conoco in its investor presentation today says it intends to make some selective sales of downstream assets.
FORBES: ConocoPhillips To Split; Expect Upstream Consolidation To Follow
Exxon Mobile (XOM), Chevron (CVX), Conoco Phillips (COP), Apache (APA) and Anadarko (APC) are natural choices to consider.
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Remember, DuPont bought Conoco years ago and is now disgorging it for the magic of leverage in biotechnology.
While he was in New York, Mr Karroubi also held meetings with representatives of Conoco, Chevron and Exxon Mobil.
Without the heft, Conoco will have a tough time getting the best projects.
FORBES: ConocoPhillips To Split; Expect Upstream Consolidation To Follow
We've already had Chevron, Conoco-Phillips, Marathon, and Amerada-Hess all reporting big profit increases.
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Higher oil prices will tend to benefit Exxon Mobile (XOM), Chevron (CVX), Conoco Phillips (COP), Shell (RDS.A) and Suncor (SU).
Executives at Conoco and ExxonMobil who were wont to boast about their Venezuelan projects four years ago now duck questions.
About 200 members of the Unite union demonstrated outside the neighbouring Total Lindsey and Conoco Phillips refineries in Immingham on Monday.
Many in the oil industry have rejected the integrated model, with Conoco Phillips, for example, spinning off its downstream business.
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Like Marathon, Conoco decided it could maximize value by spinning off its refining and marketing business to focus on exploration and production.
FORBES: ConocoPhillips Spending More Than $1 Billion On U.S. And Colombian Shale Plays
In its 2012 annual earnings conference call, Conoco admitted that 2013 will represent a low point as far as production is concerned.
FORBES: ConocoPhillips' New Finds Will Boost Outlook Amid Weaker Production
Conoco and Chevron both confirmed that their companies were at the meeting in New York, but Exxon Mobil had no immediate comment.
C. trailer park who claimed a nearby gas station owned by Conoco had leaked gasoline containing MTBE that contaminated their water supply.
Conoco has had little say in the development of this monster field.
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It is still too soon to determine whether Conoco made the right move, yet the company appears to be in the right track.
FORBES: ConocoPhillips Spending More Than $1 Billion On U.S. And Colombian Shale Plays
So it makes it harder for Exxon Mobil, Chevron, Conoco-Phillips and so on to cut deals and to find new sources of production.
Even futures prices are quite low, so Conoco will not profit much out of the future contracts it has already committed itself to.
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Gas from here would feed into the LNG plants Conoco is developing with Chevron to cater to markets such as Japan and China.
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Part of that spend also went to Colombia, where Conoco is expected to begin drilling at the La Luna shale field in the second quarter.
FORBES: ConocoPhillips Spending More Than $1 Billion On U.S. And Colombian Shale Plays
Conoco is widely seen as the most advanced player, in light of last year's acquisition of a 10% stake in top Russian oil producer Lukoil.
Reilley graduated from Oklahoma State University with a degree in finance and got his first job as a number cruncher in Conoco's Cheyenne, Wyoming office.
Berkshire also has stock investments in a myriad of major companies, including American Express (AXP), Coca-Cola (KO), Conoco-Philips (COP), Wal-Mart Stores (WMT), and Wells Fargo (WFC).
Conoco previously announced plans to close its Kenai LNG plant based in Alaska that mainly serves Japan after contracts with Japanese utilities could not be renewed.
In a May presentation, Conoco indicated it would be most likely to shed its marginal refinery in Germany, as well as two in Pennsylvania and New Jersey.
FORBES: ConocoPhillips To Split; Expect Upstream Consolidation To Follow
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