Houston-based ConocoPhillips (NYSE: COP) is taking steps to save an additional $3 billion this year on top of the $2.2 billion worth of cuts announced in March.
The energy giant will reduce its 2020 operating plan capital expenditures by $1.6 billion, according to an April 16 press release. That brings ConocoPhillips’ current capex plan to $4.3 billion, down about 35 percent from the original 2020 guidance.
Those cuts are primarily coming from Lower 48, Alaska and Canada areas where the company…