How Is ConocoPhillips Likely To Grow In The Next 2 Years?

by Trefis Team
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ConocoPhillips (NYSE: COP) had displayed a remarkable growth in revenue in 2017 backed by a rise in volume shipment and commodity price growth. The Organization of Petroleum and Exporting Companies (OPEC) and non-OPEC allies’ decision to extend its production cuts is expected to continue and benefit the top line of the company in the upcoming years. We expect the company’s revenue to rise at a CAGR of ~10% over the next 2 years, largely driven by its crude oil and midstream operations. We have created an interactive dashboard which provides a detailed analysis of how to arrive at this growth number.

The crude oil and midstream marketing business of the company is expected to remain a significant revenue driver for the company over the next two years. The company expects its production level (excluding Libya) to grow by 5% on a year-on-year basis. The company has restricted its sustainable capital investment for 2018 to $3.5 billion, which could go up to $5.5 billion, based on the pace of its production growth. The targeted production growth may be difficult to achieve with the current capital budget if the commodity prices do not recover as expected by the company. We expect the company to display moderate revenue growth over the span of the next two years.

Our interactive model depicts detailed price and volume figures to arrive at the expected revenue figure for 2019. You can easily modify our assumptions to arrive at your own revenue estimates.


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