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ConocoPhillips is increasing its 2022 capital spending budget by 36% over 2021, with the bulk expected to fund development in its US unconventional portfolio. Conoco will allocate 60% of its $7.2 billion budget next year to its operations in the lower 48 states, which include assets in the Permian Basin as well as the Bakken and Eagle Ford Shales.

Capital Spending
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