Liam Denning, Columnist

ConocoPhillips Was Right to Split

Returns on the two stocks combined have topped those of still-integrated rivals.

November 14, 2016 at 5:13 PM UTC

Liam Denning is a Bloomberg Opinion columnist covering energy. A former banker, he edited the Wall Street Journal’s Heard on the Street column and wrote the Financial Times’s Lex column.

Provide news feedback or report an error

Site feedback:

Take our Survey

This article is for subscribers only.

This hasn't been a great year if you own ConocoPhillips.

Conoco split off its downstream refining and marketing business into separately listed Phillips 66 in 2012. Since then, it has tried to chart an unusual course of being a large exploration and production company promising growth while also offering a competitive dividend, traditionally the preserve of integrated rivals such as Exxon Mobil Corp.