ConocoPhillips raised its full-year 2023 production forecast after achieving record output domestically and worldwide during the first three months of the year. 

The company is targeting full-year 2023 production of 1.78-1.80 million boe/d, a 10,000 boe/d increase at the midpoint from previous guidance.

This would be up from full-year production of 1.74 million boe/d recorded in 2022.

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Capital expenditures for this year are expected to total $10.7-11.3 billion, versus $10.2 billion outlayed in 2022.

First quarter highlights for the largest U.S. independent included final sanctioning in March of the Sempra-led Port Arthur LNG export project...