ConocoPhillips' 2014 budget includes spending $16.7 billion, with 55% of the total allocated to North America.

Within North America, Conoco expects continued growth from the Eagle Ford, Bakken, and Permian plays.

Approximately $4.3 billion will be spent on development drilling in the Lower 48 states. The budget includes increased investment in the drilling programs in the Eagle Ford, Bakken and Permian.

Conoco has a five-year plan to spend $5 billion in the Bakken to grow production to more than 50,000 boe/d by 2017. The company has over 626,000 acres prospective for the Bakken and estimates a drilling inventory of more than 1,400 wells.

Read more at conocophillips.com