ConocoPhillips Co (COP) Q4 2019 Earnings Call Transcript

ConocoPhillips Co (COP) Q4 2019 Earnings Call Transcript

Good morning and welcome to the ConocoPhillips Fourth Quarter 2019 Earnings Conference Call.. Dominic Macklon, President of our Lower 48 region was unable to join today's call.. In the financial column, we delivered strong earnings and we generated cash from operations of $11.7 billion, delivering free cash flow of over $5 billion.. We delivered on our volume projections for the year, with roughly 5% underlying growth, including 22% growth from the Big 3 unconventionals.. We returned 43% of our CFO to our shareholders, that's essentially all of our free cash flow.. Our execution focus goes beyond just the numbers.. And our first question comes from Doug Leggate from Bank of America.. So I'm just wondering if you could walk us through the cadence of how we should expect production to evolve through the year, and I'll leave it there.. I'll answer the first question about the Alaska tax.. As we showed in November, we're currently planning to invest about $25 billion of capital over the next 10 years in Alaska.. We've had ballot measure challenges over the past few years, that would have negatively impacted our business and Alaska's economy.. So in terms of our current plans, we're waiting to