ConocoPhillips reports $116 million loss from merger costs

<br>(Houston-AP) -- ConocoPhillips posted a third-quarter loss of $116 million Thursday. <br><br>The Houston-based oil company blamed the loss on special charges related to the August 30th merger of the

Thursday, October 24th 2002, 12:00 am

By: News On 6

(Houston-AP) -- ConocoPhillips posted a third-quarter loss of $116 million Thursday.

The Houston-based oil company blamed the loss on special charges related to the August 30th merger of the two oil companies and discontinued-operation items.

It says the 572 million dollars in one-time items led to the loss of 24 cents per share for the quarter. Excluding those charges, the company reported earnings of 456 million dollars, or 94 cents per share. That would meet the expectations of analyst surveyed by Thomson/First Call.

Houston-based Conoco and Bartlesville, Oklahoma-based Phillips Petroleum created the third-largest US oil and gas company.