May 17, 2011
Shares of ConocoPhillips (COP) are down on a Bloomberg report that the oil giant plans to begin drilling in the Browse Basin off Australia's northwest coast.
The move will come in the second or third quarter in an effort to judge the potential of discovering natural gas in the area.
ConocoPhillips shares are down 0.76%, or $0.54, to $70.89.
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