ConocoPhillips (COP) reported that Q1 production grew by roughly 2%. A big part of the increase was due to the APLNG project coming online, but the company still seems highly focused on flat production despite prices that caused a $1.2 billion quarterly loss and negative FCF of $1.1 billion prior to paying $300 million on dividends. Do you want to own a stock that can't control output based on prices? Disclosure: No position