COP: Profit up 66% Despite Production Drop --

Link here.

I lost the bubble on this, but wasn't COP the one who put out a warning just a week ago saying their numbers would be down 20 percent due to natural gas price debacle?  I'm sure it was COP, but I could be wrong.

ConocoPhillips' said Wednesday its fourth-quarter earnings rose 66% compared with a year earlier thanks to higher oil prices and despite a drop in production and weak refining profits.

The Houston-based company reported a profit $3.4 billion, or $2.56 a share, up from $2 billion, or $1.39 a share, a year earlier. Excluding gains on asset sales and other items, earnings were up at $2.02 a share from $1.32 a share. Adjusted earnings bested analysts' expectations of $1.76 a share thanks to better-than-anticipated exploration and production results and a smaller-than-estimated drop in refining profits, said Brian Youngberg, an analyst at Edward Jones.

Revenue rose 17% to $62.39 billion.

I guess we now know why Jim "Mad Money" Cramer keeps yelling his support for COP.