Predicting the earnings of refineries and chemical plants requires estimating demand for dozens of products, as well as their costs. That makes the profitability much harder to forecast, Jeff Sheets, chief financial officer of ConocoPhillips, said in an interview Thursday.
The company has curbed U.S. production of natural gas as the fuel's domestic price has tumbled. Chief Financial Officer Jeff Sheets said the company will continue to shut in natural gas wells in North America.
In a conference call with analysts on Wednesday, Chief Financial Officer Jeff Sheets said about half of that increase will be directed toward U.S. exploration and production, bringing to about $5 billion the total spending planned for oil and gas fields in theLower 48 states.
"We have some good ideas about how we anticipate things will come out, but there's just work that has to be done," ConocoPhillips' chief financial officer, Jeff Sheets, said in an interview, adding that the company expects to provide more specifics about the plan in September.
Jeff Sheets, chief financial officer of ConocoPhillips, said that while the industry's profits are higher, the margins are still slim compared to the amount of assets oil companies maintain, and profits haven't risen as fast as gasoline prices.
Date: Apr 28, 2011
Category: Business
Source: Google
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Jeff Sheets
About:
I love hanging out at home, by the pool or in the garden. Family and friends are what makes life real.
Tagline:
What's that old saying, "Whether you think you can or whether you think you can't, you are probably right."
Bragging Rights:
Married, 1 kid
Jeff Sheets
Education:
University of Kansas - Business
About:
Husband, Father, Grandfather who loves his family. A Business Consultant that travels the US. I enjoy my job. I love God and my church family! Rock Chalk Jayhawk!
Jeff Sheets
Education:
Hidden Valley High
Jeff Sheets
Jeff Sheets
Jeff Sheets
Tagline:
Creative Thinker and Collaborator, Advertising Professor, Friend to All