ConocoPhillips Announces Capital Spending Plan

Friday, Conoco Phillips announced its capital spending plans for next year.  The company will spend $2 billion more than it initially budgeted.  Chairman Jim Mulva said the investment will go into the most profitable opportunities.  The ones mentioned in his written statement were Canadian tar sands, the Eagle Ford, Permian and Barnett fields in Texas, and the Bakken field in North Dakota.

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