So, in the end, the balance sheet match up is probably a wash.Before you say there's nothing in common here, which on the surface appears to be the case, step back. ConocoPhillips managed to eek out a profit in the second quarter, despite the economic fallout from the coronavirus pandemic that wreaked havoc on much of the oil and gas industry. Unless legally required, ConocoPhillips expressly disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Over the long-term, SQM probably has an edge because it is focused on a commodity (lithium) that looks like it will be increasingly important as the commodity that ConocoPhillips relies on (oil) becomes less important. The company also generated $1.3 billion in disposition proceeds. Find real-time COP - ConocoPhillips stock quotes, company profile, news and forecasts from CNN Business. Special items for the current quarter were primarily due to a realized gain on the completion of the Australia-West divestiture and an unrealized gain on Cenovus Energy equity. We believe our 2019 operating plan reflects what you've come to expect from us. ConocoPhillips is a 37.5 percent shareholder in the Australia Pacific LNG joint venture. We are monitoring the market closely to develop a view around the timing and path of price recovery and to guide our corresponding actions. Posts about future of ConocoPhillips written by name withheld. But this type of energy downturn isn't actually all that unusual. To listen to the call and view related supplemental information, go to www.conocophillips.com/investor .Production excluding Libya for the second quarter of 2020 was 981 thousand barrels of oil equivalent per day (MBOED) after curtailments of approximately 225 MBOED, resulting in a decrease of 309 MBOED from the same period a year ago. The plan also generates increasing free cash flow at higher oil prices, which could enable the company to buy back even more shares than initially planned this year, as was the case in both 2017 and 2018.Lance concluded his overview of the company's 2019 plan with this statement:Stock Advisor launched in February of 2002. In addition, the company funded $0.9 billion of capital expenditures and investments and distributed $0.5 billion in dividends. It has a fairly broad portfolio, with investments in traditional onshore drilling around the world, unconventional onshore drilling (U.S. shale), offshore drilling in various regions, and operations in the Canadian Oil Sands. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in the forward-looking statements. U.S. investors are urged to consider closely the oil and gas disclosures in our Form 10-K and other reports and filings with the SEC. Add to that the fact ConocoPhillips has a strong balance sheet since it achieved its debt target 18 months ahead of schedule and ended the year with $6.4 billion of cash on hand, and the company can navigate lower oil prices with ease.We're excited to get another year underway.