Conoco plans $50B bonanza in next decade

CONOCOPHILLIPS’ investor day, held overnight in Houston, finds it planning to sell down its Alaskan acreage by 25% while also sending US$50 billion back to shareholders over the next decade as it plans for a 3% compound annual production growth rate. 

Conoco plans $50B bonanza in next decade Conoco plans $50B bonanza in next decade Conoco plans $50B bonanza in next decade Conoco plans $50B bonanza in next decade Conoco plans $50B bonanza in next decade

Conoco capex planned at $7B per year or less 

That bonanza breaks down to $30 billion in share buy backs and $20 billion in dividends through the coming decade and $1.5 billion in dividends and $3.