Knowing the logistics of some companies, the fuel your retailers purchase probably comes from a hub in Texas instead of the Ponca City tap. The Ponca City fuel probably is transported to the hub in Texas before coming back to Ponca on a tanker.I live in a town with the 10th largest refinery in the US, and our gas prices are typically 11-13 cents higher than anywhere in okla.
Splain that one to me..
Nope, fuel tankers are lined up 24-7 at the refinery. It supplies gasoline/diesel fuel for stations ranging out 100 miles in every direction. It is a regional hub.
I'm constantly amazed when people prefer one brand of gas over another. It's all coming out of the same refinery, same storage tanks, and then delivered in generally unmarked fuel tankers.
Grondike transportation has a lot here with dozens of fuel tankers that run around the clock.
Keep on going up!!! Everyone make sure and buy some gas so you support the industry!! Gas prices are this high in the winter, in the summer they might be through the roof! Oil price is at $97 a barrel right now, summer time will be $100+..... 
Keep on going up!!! Everyone make sure and buy some gas so you support the industry!! Gas prices are this high in the winter, in the summer they might be through the roof! Oil price is at $97 a barrel right now, summer time will be $100+.....
Finally someone with some sense!!
It has gone up. I always notice. I drive a truck so I notice when it goes up. Milk has also went up a lot. I paid over $4 a gallon a fire lake grocery here in Shawnee. And the week before it was $1.99! Pathetic. As long as we keep on buying it they will keep raising the price.
$1.99 on milk has to have been a promotional price. Milk has not been consistently under $3 per gallon in quite some time.
Have you guys not been watching the news? Israel bombed some stuff in Syria and that pisses of the Iranians. Like they don't need any more reason to hate Israel, but really the whole Mid East is on fire and our media except for Fox News is more worried about Manti getting punked.
I've seen the pump price by my house go up .30 cents in two days.
I've seen the pump price by my house go up .30 cents in two days.
1/31/2013
HOUSTON – ConocoPhillips today reported fourth-quarter 2012 earnings of $1.4 billion, or $1.16 per share, compared with fourth-quarter 2011 earnings of $3.4 billion, or $2.56 per share. Fourth-quarter 2011 reported earnings included downstream results prior to the separation of Phillips 66 on April 30, 2012.
Excluding special items, fourth-quarter 2012 adjusted earnings were $1.8 billion, or $1.43 per share, compared with fourth-quarter 2011 adjusted earnings of $2.1 billion, or $1.55 per share. Special items for the current quarter included disposition-related impairments partially offset by tax impacts, net benefits related to legal claims and settlements, and discontinued operations.
Following recently announced agreements to dispose of the company’s interests in the Kashagan Field and the Algeria and Nigeria business units, the associated earnings and production impacts for these assets have been reported as discontinued operations. This decreased adjusted earnings for fourth-quarter 2012 by $27 million, or $0.02 per share.
Full-year 2012 earnings were $8.4 billion, or $6.72 per share, compared with full-year 2011 earnings of $12.4 billion, or $8.97 per share. Reported earnings for 2012 and 2011 included four months and 12 months of downstream results, respectively. Full-year 2012 adjusted earnings were $6.7 billion, or $5.37 per share, compared with full-year 2011 adjusted earnings of $8.0 billion, or $5.75 per share.
Reserves Update
Preliminary year-end 2012 proved reserves are 8.6 billion barrels of oil equivalent (BOE). Proved organic reserve additions for 2012 are expected to be 942 million BOE, representing an organic reserve replacement ratio of 156 percent of 2012 production, including fuel gas. Sales completed during 2012, net of purchases, reduced reserves by 83 million BOE, giving a total reserve replacement ratio of 142 percent.
Fourth-Quarter Review
Production from continuing operations for the fourth quarter of 2012 was 1,566 MBOED, compared with 1,538 MBOED for the fourth quarter of 2011. Adjusted for completed dispositions, production grew by 83 MBOED compared to fourth-quarter 2011. This increase was primarily due to new production from major projects and drilling programs as well as higher production in Libya and China. These increases more than offset normal field decline and downtime.
Adjusted earnings decreased compared with fourth-quarter 2011 primarily due to the impact of lower commodity prices. The company’s total realized price fell to $67.45 per BOE, compared to $69.99 per BOE in the fourth quarter of 2011. Realized crude oil prices decreased to $103.08 per barrel, compared with $105.92 per barrel for the fourth quarter of 2011. Realized natural gas liquids (NGL) prices decreased by 18 percent to $44.93 per barrel, compared with $55.06 per barrel for the fourth quarter of 2011. Realized natural gas prices decreased to $5.79 per thousand cubic feet (MCF), compared with $5.88 per MCF for the fourth quarter of 2011.
(See EARNINGS, Page 2)
For the quarter, cash provided by continuing operating activities was $3.87 billion. Excluding a working capital increase of $0.37 billion, ConocoPhillips generated $4.24 billion in cash from operations. The company funded a $3.6 billion capital program and paid dividends of $0.8 billion. During the quarter, debt increased $0.6 billion, reflecting the placement of $2.0 billion in low-interest debt, retirement of maturing debt and repayment of commercial paper.
Full-Year Review
Production from continuing operations for the year was 1,527 MBOED, compared with 1,561 MBOED for 2011. Adjusted for completed dispositions, production grew by 7 MBOED compared to 2011. New production from major projects and drilling programs, as well as higher production from the resumption of operations in Libya, offset normal field decline and downtime.
Adjusted earnings decreased compared with 2011 primarily due to the impact of lower commodity prices and volumes. The company’s full-year 2012 realized price fell to $67.68 per BOE, compared to $69.14 per BOE in 2011. Realized crude oil prices increased to $105.72 per barrel, compared with $105.52 per barrel for the full year of 2011. Realized NGL prices decreased by 17 percent to $46.36 per barrel, compared with $55.73 per barrel for the full year of 2011. Realized natural gas prices decreased by 6 percent to $5.48 per MCF, compared with $5.80 per MCF for the full year of 2011. Realized bitumen prices decreased by 14 percent to $53.91 per barrel, compared with $62.56 per barrel for the full year of 2011.
For the year, cash provided by continuing operating activities was $13.5 billion. Excluding a working capital increase of $1.2 billion, ConocoPhillips generated $14.7 billion in cash from operations. The company received $2.1 billion in proceeds from asset dispositions and $5.5 billion in net cash related to the separation of Phillips 66. ConocoPhillips funded a $15.7 billion capital program, including $0.8 billion related to discontinued operations. During the year, the company paid dividends of $3.3 billion and repurchased shares for $5.1 billion. Debt decreased by $0.9 billion.
As of Dec. 31, 2012, ConocoPhillips had debt of $21.7 billion and the debt-to-capital ratio was 31 percent. The company had $3.62 billion of cash and cash equivalents and $0.75 billion in restricted cash targeted for dividends.
Outlook
Total production for the first quarter of 2013 is expected to be 1,580 to 1,600 MBOED, including production from discontinued operations of approximately 40 MBOED. Full-year 2013 production from continuing operations is expected to be 1,475 to 1,525 MBOED.
In addition to $2.1 billion in proceeds from asset dispositions completed in 2012, the company has announced asset sales that are expected to close by mid-2013, generating additional proceeds of approximately $9.6 billion. The company continues to evaluate opportunities to further optimize the portfolio.
ConocoPhillips will hold its annual analyst meeting on Feb. 28 in New York. Representatives from company management will discuss the company’s strategic plans for growth and value creation.
HOUSTON – ConocoPhillips today reported fourth-quarter 2012 earnings of $1.4 billion, or $1.16 per share, compared with fourth-quarter 2011 earnings of $3.4 billion, or $2.56 per share. Fourth-quarter 2011 reported earnings included downstream results prior to the separation of Phillips 66 on April 30, 2012.
Excluding special items, fourth-quarter 2012 adjusted earnings were $1.8 billion, or $1.43 per share, compared with fourth-quarter 2011 adjusted earnings of $2.1 billion, or $1.55 per share. Special items for the current quarter included disposition-related impairments partially offset by tax impacts, net benefits related to legal claims and settlements, and discontinued operations.
Following recently announced agreements to dispose of the company’s interests in the Kashagan Field and the Algeria and Nigeria business units, the associated earnings and production impacts for these assets have been reported as discontinued operations. This decreased adjusted earnings for fourth-quarter 2012 by $27 million, or $0.02 per share.
Full-year 2012 earnings were $8.4 billion, or $6.72 per share, compared with full-year 2011 earnings of $12.4 billion, or $8.97 per share. Reported earnings for 2012 and 2011 included four months and 12 months of downstream results, respectively. Full-year 2012 adjusted earnings were $6.7 billion, or $5.37 per share, compared with full-year 2011 adjusted earnings of $8.0 billion, or $5.75 per share.
Reserves Update
Preliminary year-end 2012 proved reserves are 8.6 billion barrels of oil equivalent (BOE). Proved organic reserve additions for 2012 are expected to be 942 million BOE, representing an organic reserve replacement ratio of 156 percent of 2012 production, including fuel gas. Sales completed during 2012, net of purchases, reduced reserves by 83 million BOE, giving a total reserve replacement ratio of 142 percent.
Fourth-Quarter Review
Production from continuing operations for the fourth quarter of 2012 was 1,566 MBOED, compared with 1,538 MBOED for the fourth quarter of 2011. Adjusted for completed dispositions, production grew by 83 MBOED compared to fourth-quarter 2011. This increase was primarily due to new production from major projects and drilling programs as well as higher production in Libya and China. These increases more than offset normal field decline and downtime.
Adjusted earnings decreased compared with fourth-quarter 2011 primarily due to the impact of lower commodity prices. The company’s total realized price fell to $67.45 per BOE, compared to $69.99 per BOE in the fourth quarter of 2011. Realized crude oil prices decreased to $103.08 per barrel, compared with $105.92 per barrel for the fourth quarter of 2011. Realized natural gas liquids (NGL) prices decreased by 18 percent to $44.93 per barrel, compared with $55.06 per barrel for the fourth quarter of 2011. Realized natural gas prices decreased to $5.79 per thousand cubic feet (MCF), compared with $5.88 per MCF for the fourth quarter of 2011.
(See EARNINGS, Page 2)
For the quarter, cash provided by continuing operating activities was $3.87 billion. Excluding a working capital increase of $0.37 billion, ConocoPhillips generated $4.24 billion in cash from operations. The company funded a $3.6 billion capital program and paid dividends of $0.8 billion. During the quarter, debt increased $0.6 billion, reflecting the placement of $2.0 billion in low-interest debt, retirement of maturing debt and repayment of commercial paper.
Full-Year Review
Production from continuing operations for the year was 1,527 MBOED, compared with 1,561 MBOED for 2011. Adjusted for completed dispositions, production grew by 7 MBOED compared to 2011. New production from major projects and drilling programs, as well as higher production from the resumption of operations in Libya, offset normal field decline and downtime.
Adjusted earnings decreased compared with 2011 primarily due to the impact of lower commodity prices and volumes. The company’s full-year 2012 realized price fell to $67.68 per BOE, compared to $69.14 per BOE in 2011. Realized crude oil prices increased to $105.72 per barrel, compared with $105.52 per barrel for the full year of 2011. Realized NGL prices decreased by 17 percent to $46.36 per barrel, compared with $55.73 per barrel for the full year of 2011. Realized natural gas prices decreased by 6 percent to $5.48 per MCF, compared with $5.80 per MCF for the full year of 2011. Realized bitumen prices decreased by 14 percent to $53.91 per barrel, compared with $62.56 per barrel for the full year of 2011.
For the year, cash provided by continuing operating activities was $13.5 billion. Excluding a working capital increase of $1.2 billion, ConocoPhillips generated $14.7 billion in cash from operations. The company received $2.1 billion in proceeds from asset dispositions and $5.5 billion in net cash related to the separation of Phillips 66. ConocoPhillips funded a $15.7 billion capital program, including $0.8 billion related to discontinued operations. During the year, the company paid dividends of $3.3 billion and repurchased shares for $5.1 billion. Debt decreased by $0.9 billion.
As of Dec. 31, 2012, ConocoPhillips had debt of $21.7 billion and the debt-to-capital ratio was 31 percent. The company had $3.62 billion of cash and cash equivalents and $0.75 billion in restricted cash targeted for dividends.
Outlook
Total production for the first quarter of 2013 is expected to be 1,580 to 1,600 MBOED, including production from discontinued operations of approximately 40 MBOED. Full-year 2013 production from continuing operations is expected to be 1,475 to 1,525 MBOED.
In addition to $2.1 billion in proceeds from asset dispositions completed in 2012, the company has announced asset sales that are expected to close by mid-2013, generating additional proceeds of approximately $9.6 billion. The company continues to evaluate opportunities to further optimize the portfolio.
ConocoPhillips will hold its annual analyst meeting on Feb. 28 in New York. Representatives from company management will discuss the company’s strategic plans for growth and value creation.
