July 26, 2018 / 11:06 AM / 3 months ago

ConocoPhillips posts profit in second quarter on higher oil prices

July 26 (Reuters) - Oil and gas producer ConocoPhillips on Thursday reported a profit in the second quarter compared with a year-ago loss, driven by a recovery in U.S. crude prices.

Net income attributable to the largest independent U.S. oil and gas producer was $1.6 billion or $1.39 per share in the three months ended June 30, compared with a loss of $3.4 billion or $2.78 per share a year earlier.

The company wrote down some of its assets in Australia in the year-earlier quarter.

Its total second-quarter production, excluding Libya, was 1.2 million barrels of oil equivalent per day (boe/d), a fall of 214,000 boe/d from a year earlier. (Reporting by John Benny in Bengaluru; Editing by Sai Sachin Ravikumar)

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