How Did ConocoPhillips Trounce Big Oil This Quarter?
If you were to compare ConocoPhillips earnings to all of the other major oil companies, you wouldn't notice too many differences. All of these companies had weaker prices on foreign-sourced crudes and falling production from regions like the Middle East and Asia. But the reason that ConocoPhillips was able to increase income from last year while ExxonMobil dropped by 57% is the success of ConocoPhillips' operations in North America. Production from places like the Bakken, Eagle Ford, and Permian not only grew, but also commanded higher prices while prices abroad have slipped.
Can ConocoPhillips maintain this big-oil-beating pace? Tune into the video below where Fool.com contributor Tyler Crowe takes a look at ConocoPhillips' strategic decision to focus more on production in the United States and Canada, and asks how this move could translate into growing revenue in the future.
Conocophillips is just one on a long list of companeis that are taking advantage of the oil and gas boom in North America. While the overall landscape can be promising, finding the winners in this space can be like finding a needle in a haystack. For this reason, the Motley Fool is offering a comprehensive look at three energy companies set to soar during this transformation in the energy industry. To find out which three companies are spreading their wings, check out the special report, "3 Stocks for the American Energy Bonanza." Simply click here to get free access to this valauble report.
The article How Did ConocoPhillips Trounce Big Oil This Quarter? originally appeared on Fool.com.Fool contributor Tyler Crowe has no position in any stocks mentioned. You can follow him at Fool.com under the handle TMFDirtyBird, on Google +, or on Twitter, @TylerCroweFool.The Motley Fool recommends Chevron. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.