Current major focus areas for the Lower 48 include the Eagle Ford, Bakken and Permian Basin.In early 2020, the company sold its Niobrara assets in Colorado and its Waddell Ranch assets in the Permian Basin.Full-year 2019 production in the Lower 48 segment was 451 MBOED.Click on one of the links below to access the handbook. Conoco's production was also hit by the widespread shut-in of production in Libya because of military and political conflict there. The handbook will also be available in the COP App Store.Click on one of the links below to access the handbook. At the Surmont operation in Canada, the company curtailed approximately 30 MBOED. Bakken Rig ConocoPhillips Bakken Shale production was 43,000 boe/d in the fourth-quarter of 2013, surpassing fourth quarter 2012 production of the formation by ~ 80%. Most of the production cuts in the U.S. came from the Eagle Ford shale play in South Texas and the Bakken shale play in North Dakota. After oil prices climbed back above $40 a barrel, ConocoPhillips began ramping up oil and gas production across the U.S. and Canada. All rights reserved. Conoco has a five-year plan to spend $5 billion in the Bakken and grow production to 50,000 boe/d by 2017.
With much of its production shut in and sales for unaffected output sharply lower, Conoco recorded a loss of $1.5 billion (or $1.37 per share) for the first six months of 2020 and a loss of $944 million for the second quarter. “Importantly, our underlying business results were strong, reflecting our ongoing commitment to safely executing our plans and the dedication of our workforce during this challenging time.”Many oil and gas companies struggled during the second quarter to weather the coronavirus pandemic, which depressed crude demand and prices.
There was no production from Libya as it remained in force majeure during the quarter.In the Lower 48, production from the Big 3 averaged 260 MBOED, including Eagle Ford of 162 MBOED, Permian Unconventional of 52 MBOED and Bakken of 46 MBOED. At the Surmont operation in Canada, the company curtailed approximately 30 MBOED. For example, as the market strengthened late in the second quarter, we began reversing our second-quarter curtailments and ramping up production across the Lower 48, Alaska and Canada. The Lower 48 represents the largest segment in ConocoPhillips today based on production. The handbook will also be available in the COP App Store. ConocoPhillips' Bakken/Three-Forks operations will continue to pump out production growth through 2017 and beyond.
This decrease was primarily due to curtailments and normal field decline, partially offset by growth from the Big 3, in addition to development programs in Canada and Europe. In the Lower 48, production from the Big 3 averaged 260 MBOED, including Eagle Ford of 162 MBOED, Permian Unconventional of 52 MBOED and Bakken of 46 MBOED. In the Lower 48, production from the Big 3 averaged 260 MBOED, including Eagle Ford of 162 MBOED, Permian Unconventional of 52 MBOED and Bakken of 46 MBOED.
At the Surmont operation in Canada, the company curtailed approximately 30 MBOED. Read more in the article: ConocoPhillips Increases Bakken Spending in Its 2014 Budget Lower 48 production included curtailments of approximately 145 MBOED, primarily in Eagle Ford and Bakken. ConocoPhillips Bakken Shale production was 43,000 boe/d in the fourth-quarter of 2013, surpassing fourth quarter 2012 production of the formation by ~ 80%.
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