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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Haim R. Branisteanu who wrote (12864)	10/5/2004 5:10:07 PM
From: mishedlo	Respond to of 116555

ConocoPhillips sees lower Q3 production - Tuesday, October 5, 2004 8:35:53 PM afxpress.com DALLAS (AFX) - ConocoPhillips said Tuesday in a preview to its third-quarter financial report that it expects crude oil and natural gas production to be about 7 percent below second-quarter levels The Houston-based integrated oil said scheduled maintenance in the North Sea and Alaska more than offset increased output from the Timor Sea. ConocoPhillips said it also expects to report lower refining margins, and a higher capacity utilization rate. The company's debt balance is projected to be $15.5 billion at the end of the third quarter, and the cash balance is anticipated to rise to $3 billion from $804 million in the second quarter Analysts polled by Thomson/First Call expect the company to report earnings-per-share of $2.59, up from $1.82 in the year-ago period. ConocoPhillips is set to announce its quarterly results on Oct. 27. Shares were up $2.03 to close at $86.70