ConocoPhillips (NYSE:COP) has made it clear since the split with Phillips 66 (NYSE:PSX) that it wants to focus on North American oil production, and the company's recent capital budget was a clear indication of that. More than 55% of its near-$17 billion in capital expenditures will go toward developing its assets in the United States and Canada. While much of what the company announced shouldn't come as too much of a surprise to investors, one thing that popped out was ConocoPhillips' announcement that it would start an exploration and development program off the coast of Angola and Senegal, which seems to be a bit of a diversion from its original plan.
Tune into the video below, where Fool contributor Tyler Crowe discusses whether a move into places like Angola is a good move for the company and how investors should look at ConocoPhillips' recent plans for the future.
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