ConocoPhillips Directs 86% of $11.2 Billion 2010 Capital Budget to E&P Segment

SUGAR LAND--December 24, 2009--Researched by Industrial Info Resources (Sugar Land, Texas)--ConocoPhillips Incorporated (NYSE:COP) (Houston, Texas) is planning to spend approximately $9.7 billion in support of the company's exploration and production (E&P) program during 2010. Although the $11.2 billion 2010 capital budget represents a 10% decrease in spending from 2009 capital expenditures, it still represents a healthy investment in the energy sector. ConocoPhillips will direct $4.1 billion of its budget for projects to North America. Again, this figure is a reduction in spending levels compared with previous years, but the emphasis was placed on the highest return on investment when ConocoPhillips selected the production basins.