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ConocoPhillips Reports Loss as Oil Crash Limits Shale Growth

ConocoPhillips reported its widest loss in more than six years as a crash in oil and gas prices tempered growth from Texas to Canada.

The largest major U.S. oil company without refining operations lost $1.07 billion, or 87 cents a share, compared to a gain of $2.7 billion, or $2.17, a year earlier, the Houston-based company said in a statement. It was the biggest loss since the fourth quarter of 2008. Excluding one-time items, ConocoPhillips lost 38 cents a share in the third quarter, in line with the 38-cent average of 21 analysts’ estimates...