April 16 (Reuters) - ConocoPhillips (NYSE:COP) COP.N :
* CONOCOPHILLIPS TO VOLUNTARILY CURTAIL 225,000 GROSS BARRELS OF OIL PER DAY; REDUCES 2020 CASH USES BY ADDITIONAL $3 BILLION FOR TOTAL REDUCTION OF OVER $5 BILLION
* CONOCOPHILLIPS - ADDITIONAL REDUCTION IN 2020 OPERATING PLAN CAPITAL EXPENDITURES OF $1.6 BILLION, BRINGING CURRENT ESTIMATE TO $4.3 BILLION
* CONOCOPHILLIPS - COMPANY'S SHARE REPURCHASE PROGRAM HAS BEEN SUSPENDED
* CONOCOPHILLIPS - BY MAY, COMPANY EXPECTS TO REDUCE PRODUCTION BY APPROXIMATELY 100,000 BARRELS OF OIL PER DAY GROSS TO 35,000 BOD GROSS
* CONOCOPHILLIPS - PREVIOUS 2020 GUIDANCE ITEMS SHOULD NOT BE RELIED UPON AND FURTHER GUIDANCE WILL BE SUSPENDED
* CONOCOPHILLIPS - REDUCING IN OPERATING COSTS OF APPROXIMATELY $0.6 BILLION, REPRESENTING ROUGHLY 10 PERCENT OF INITIAL 2020 GUIDANCE
* CONOCOPHILLIPS - IT WILL ELECT TO CURTAIL PRODUCTION IN CANADA AND THE LOWER 48 REGIONS UNTIL MARKET CONDITIONS IMPROVE
* CONOCOPHILLIPS - WITH TODAY'S ACTIONS CO HAS EXERCISED TOTAL OF OVER $5 BILLION OF FLEXIBILITY COMPARED TO 2020 PLAN
* CONOCOPHILLIPS - "ANNOUNCED OUR INTENTION TO DEFER PRODUCTION WHERE WE HAVE A COMPELLING ECONOMIC REASON TO DO SO"
* CONOCOPHILLIPS - AT SURMONT, CO IS CURRENTLY CUTTING BACK PRODUCTION DUE TO LOW WESTERN CANADA SELECT PRICES