Utilized Purchase Accounting News

ConocoPhillips Reports 3Q Results

ConocoPhillips has reported third-quarter net operating income of $456 million, or 94 cents per share, compared with $373 million, or $1.33 per share, for the same period a year ago. Including special items of $572 million, the company had a loss of $116 million, or 24 cents per share, compared with net income of $364 million, or $1.30 per share, for the same period a year ago. Total revenues were $15.7 billion, versus $6 billion a year ago. "We are extremely pleased with the progress we've made thus far in integrating the operations of Conoco and Phillips," said Jim Mulva, president and chief executive officer. "We continue to work toward finalizing our operating plans and synergy targets, which we look forward to sharing with the investment community on November 22.