billion of balance sheet debt , ending the year with debt of $ 19.7 billion . generated approximately $ 16 billion from asset dispositions . announced year-end proved reserves of 5.0 billion barrels of oil equivalent ( boe ) . repurchased $ 3 billion of shares ; reduced ending share count by 5 percent year over year . reached settlement on ecuador arbitration for $ 337 million . operationally , we continue to focus on safely executing our capital program and remaining attentive to our costs . production excluding libya was 1,356 mboed in 2017 compared with 1,567 mboed in 2016. our underlying production , which excludes the full-year impact of closed and planned dispositions of 191 mboed in 2017 and 434 mboed in 2016 and libya , increased 32 mboed , or 3 percent year over year . underlying production on a per debt-adjusted share basis grew by 19 percent compared to 2016. production per debt-adjusted share is calculated on an underlying production basis using ending period debt divided by ending share price plus ending shares outstanding . we believe production per debt-adjusted share is useful to investors as it provides a consistent view of production on a total equity basis by converting debt to equity and allows for comparisons across peer companies . we accomplished several strategic milestones in 2017 , including progressing our efforts to optimize our portfolio . our asset dispositions are in line with our strategy , announced in november 2016 , to focus on low cost-of-supply projects in our portfolio that strategically fit our development plans . we generated approximately $ 16 billion in total consideration from the disposition of certain noncore assets which were directed to our stated cash priorities and general corporate purposes . for additional information on our dispositions , see note 4assets held for sale , sold or acquired in the notes to consolidated financial statements . in 2017 , we reduced debt by $ 7.6 billion to $ 19.7 billion at year-end and repurchased 64 million shares of our common stock totaling $ 3 billion . consistent with our commitment to grow our distributions , in the first quarter of 2017 , we increased our quarterly dividend by 6 percent to $ 0.265 per share . we are managing our business to optimize and deliver on our value propositions and cash priorities in a demanding business environment . business environment after elevated levels of volatility in 2016 , global market fundamentals trended towards a firmer balance in 2017. crude oil prices improved in 2017 as a result of slower growth in global oil production , strong global oil demand and lower global inventory levels . the energy industry has periodically experienced this type of extreme volatility due to fluctuating supply-and-demand conditions . commodity prices are the most significant factor impacting our profitability and related reinvestment of operating cash flows into our business . our strategy is to create value through price cycles by delivering on the disciplined financial and operational priorities that underpin our value proposition . 31 priorities the priorities we believe will drive our success through the price cycles include : focus on financial returns . this is a core aspect of our value proposition . our goal is to achieve strong financial returns by controlling our costs , exercising capital discipline and continually optimizing our portfolio . ¡ control costs and expenses . controlling operating and overhead costs , without compromising safety and environmental stewardship , is a high priority . we monitor these costs using various methodologies that are reported to senior management monthly , on both an absolute-dollar basis and a per-unit basis . managing operating and overhead costs is critical to maintaining a competitive position in our industry , particularly in a low commodity price environment . the ability to control our operating and overhead costs impacts our ability to deliver strong cash from operations . in 2017 , including asset disposition impacts , we reduced our production and operating expenses by 9 percent as compared to 2016 . ¡ maintain capital discipline . we participate in a commodity price-driven and capital-intensive industry , with varying lead times from when an investment decision is made to the time an asset is operational and generates cash flow . as a result , we must invest significant capital dollars to explore for new oil and gas fields , develop newly discovered fields , maintain existing fields , and construct pipelines and lng facilities . given our view of greater price volatility , we have shifted our capital allocation to focus on shorter cycle time , low cost-of-supply , unconventional programs in our resource base . our cash allocation priorities call for the investment of sufficient capital to maintain production and pay the existing dividend . additional allocations of capital toward growth projects will be dependent on satisfaction of other financial priorities . we use a disciplined approach , focused on value maximization and cash flow expansion , to set our capital plans . in november 2017 , we announced a 2018 capital budget of $ 5.5 billion , including $ 3.5 billion of sustaining capital and $ 2 billion in accretive , short-cycle unconventional programs , future major projects and exploration activities . ¡ optimize our portfolio . we continue to optimize our asset portfolio by focusing on low cost-of-supply assets which strategically fit our development plans . in 2017 , we generated approximately $ 16 billion in total consideration from dispositions of certain noncore assets in our portfolio , including our 50 percent nonoperated interest in the fccl partnership , as well as the majority of our western canada gas assets ; our interests in the san juan basin ; and our interest in the panhandle assets . we will continue to evaluate our assets to determine whether they fit our strategic direction and will optimize the portfolio as necessary , directing our capital investments to areas that align with our objectives . story_separator_special_tag 37 2016 vs. 2015 loss attributable to conocophillips decreased $ 813 million in 2016. the decrease was mainly due to : lower exploration expenses . exploration expenses decreased mainly due to reduced leasehold impairment expense and dry hole costs . lower proved property and equity investment impairments , including the absence of a $ 1.5 billion before- and after-tax impairment of our equity investment in aplng in 2015. lower production and operating expenses . a $ 161 million net deferred tax benefit resulting from a reduction in the u.k. tax rate , which was enacted in september 2016 and effective january 1 , 2016. the absence of a $ 129 million deferred tax charge from increased corporate tax rates in canada in 2015. the decrease in loss was partly offset by : lower commodity prices . the absence of a $ 555 million net deferred tax benefit resulting from a change in the u.k. tax rate in 2015. lower crude oil , natural gas liquids , and gas sales volumes . lower equity earnings , primarily driven by increased dd & a expense , as well as a 2016 deferred tax charge of $ 174 million resulting from the change of the tax functional currency for aplng to u.s. dollar . higher interest and debt expense . lower gain on dispositions , mainly due to the absence of a $ 368 million after-tax gain on the disposition of certain properties in our lower 48 segment . income statement analysis 2017 vs. 2016 sales and other operating revenues increased 23 percent in 2017 , mainly due to higher realized prices across all commodities , partly offset by lower sales volumes , primarily in our lower 48 , asia pacific and middle east , and canada segments as a result of dispositions . equity in earnings of affiliates increased $ 720 million in 2017. the increase in equity earnings was primarily due to higher realized commodity prices at qg3 , aplng and fccl ; the absence of a 2016 deferred tax charge of $ 174 million resulting from a tax functional currency change ; and reduced costs mainly from the disposition of our interest in the fccl partnership . the increase in earnings was partly offset by lower volumes as a result of our fccl disposition . gain on dispositions increased 505 percent in 2017. the increase was primarily due to a before-tax gain of $ 2.1 billion on the sale of our 50 percent nonoperated interest in the fccl partnership , as well as the majority of our western canada gas assets . for additional information on gains on dispositions , see note 4assets held for sale , sold or acquired , in the notes to consolidated financial statements . other income increased 107 percent in 2017 , mainly due to a $ 337 million before- and after-tax international centre for settlement of investment disputes ( icsid ) arbitration award from the republic of ecuador . the increase was partly offset by the absence of a gain of $ 88 million from our receipt of mineral properties and active leases from the greater northern iron ore properties trust and a $ 76 million before-tax damage claim settlement , both in our lower 48 segment in 2016. purchased commodities increased 25 percent in 2017 , mainly due to higher commodity prices and increased activity . 38 selling , general and administrative ( sg & a ) expenses decreased 22 percent in 2017 , primarily due to reduced restructuring expenses , lower headcount and reduced activity . exploration expenses decreased 51 percent in 2017 , primarily as a result of lower leasehold impairment expense , dry hole costs and other exploration expenses . leasehold impairment expense was reduced mainly due to the absence of 2016 before-tax charges of $ 203 million for our gibson and tiber leaseholds . the expense was further reduced by the absence of before-tax charges of $ 95 million for our melmar leasehold and $ 79 million for various gulf of mexico leases after completion of marketing efforts . the reduction was partly offset by a before-tax charge of $ 51 million for shenandoah in deepwater gulf of mexico and a before-tax charge of $ 38 million for certain mineral assets in our lower 48 segment , both in 2017. dry hole costs were reduced primarily due to the absence of 2016 before-tax charges in deepwater gulf of mexico of $ 249 million for our gibson and tiber wells , and $ 128 million for our melmar well . the absence of a $ 256 million before-tax charge in 2016 for two dry holes in nova scotia further reduced costs . the reduction in dry hole costs was partly offset by 2017 before-tax charges of $ 288 million for multiple wells in shenandoah , including wells previously suspended , and $ 63 million for several wells in the powder river basin . other exploration expenses were reduced mainly due to the absence of a $ 146 million before-tax expense in 2016 related to the cancellation of our final gulf of mexico deepwater drillship contract , as well as lower rig stacking costs in angola . the decrease in expense was partly offset by a $ 43 million net before-tax charge in 2017 for the settlement of our drilling rig contract in angola . for additional information on leasehold impairments and other exploration expenses , see note 7suspended wells and other exploration expenses , and note 8impairments , in the notes to consolidated financial statements . dd & a decreased 24 percent in 2017 , mainly due to lower unit-of-production rates from reserve revisions and disposition impacts in our canada and lower 48 segments . impairments increased $ 6,462 million in 2017. for additional information , see note 8impairments , in the notes to consolidated financial statements . interest and debt expense decreased 12 percent in 2017 , primarily due to impacts from the fair market value method of apportioning

total debt 19,703 2,575 210 1,838 15,080 interest on debt and other obligations 13,884 955 1,881 1,834 9,214 operating lease obligations ( c ) 1,548 278 628 433 209 purchase obligations ( d ) 10,102 4,210 1,833 945 3,114 other long-term liabilities pension and postretirement benefit contributions ( e ) 1,312 210 491 611  asset retirement obligations ( f ) 7,798 251 687 575 6,285 accrued environmental costs ( g ) 180 25 36 29 90 unrecognized tax benefits ( h ) 51 51 ( h ) ( h ) ( h ) total $ 54,578 8,555 5,766 6,265 33,992 ( a ) includes $ 252 million of net unamortized premiums , discounts and debt issuance costs . see note 10debt , in the notes to consolidated financial statements , for additional information . ( b ) capital lease obligations are presented on a discounted basis . ( c ) operating lease obligations are presented on an undiscounted basis . ( d ) represents any agreement to purchase goods or services that is enforceable and legally binding and that specifies all significant terms , presented on an undiscounted basis . does not include purchase commitments for jointly owned fields and facilities where we are not the operator . the majority of the purchase obligations are market-based contracts related to our commodity business . product purchase commitments with third parties totaled $ 3,487 million . purchase obligations of $ 5,443 million are related to agreements to access and utilize the capacity of third-party equipment and facilities , including pipelines and lng and product terminals , to transport , process , treat and store commodities .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```total debt 19,703 2,575 210 1,838 15,080 interest on debt and other obligations 13,884 955 1,881 1,834 9,214 operating lease obligations ( c ) 1,548 278 628 433 209 purchase obligations ( d ) 10,102 4,210 1,833 945 3,114 other long-term liabilities pension and postretirement benefit contributions ( e ) 1,312 210 491 611  asset retirement obligations ( f ) 7,798 251 687 575 6,285 accrued environmental costs ( g ) 180 25 36 29 90 unrecognized tax benefits ( h ) 51 51 ( h ) ( h ) ( h ) total $ 54,578 8,555 5,766 6,265 33,992 ( a ) includes $ 252 million of net unamortized premiums , discounts and debt issuance costs . see note 10debt , in the notes to consolidated financial statements , for additional information . ( b ) capital lease obligations are presented on a discounted basis . ( c ) operating lease obligations are presented on an undiscounted basis . ( d ) represents any agreement to purchase goods or services that is enforceable and legally binding and that specifies all significant terms , presented on an undiscounted basis . does not include purchase commitments for jointly owned fields and facilities where we are not the operator . the majority of the purchase obligations are market-based contracts related to our commodity business . product purchase commitments with third parties totaled $ 3,487 million . purchase obligations of $ 5,443 million are related to agreements to access and utilize the capacity of third-party equipment and facilities , including pipelines and lng and product terminals , to transport , process , treat and store commodities .
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 Suspicious Activity Report : billion of balance sheet debt , ending the year with debt of $ 19.7 billion . generated approximately $ 16 billion from asset dispositions . announced year-end proved reserves of 5.0 billion barrels of oil equivalent ( boe ) . repurchased $ 3 billion of shares ; reduced ending share count by 5 percent year over year . reached settlement on ecuador arbitration for $ 337 million . operationally , we continue to focus on safely executing our capital program and remaining attentive to our costs . production excluding libya was 1,356 mboed in 2017 compared with 1,567 mboed in 2016. our underlying production , which excludes the full-year impact of closed and planned dispositions of 191 mboed in 2017 and 434 mboed in 2016 and libya , increased 32 mboed , or 3 percent year over year . underlying production on a per debt-adjusted share basis grew by 19 percent compared to 2016. production per debt-adjusted share is calculated on an underlying production basis using ending period debt divided by ending share price plus ending shares outstanding . we believe production per debt-adjusted share is useful to investors as it provides a consistent view of production on a total equity basis by converting debt to equity and allows for comparisons across peer companies . we accomplished several strategic milestones in 2017 , including progressing our efforts to optimize our portfolio . our asset dispositions are in line with our strategy , announced in november 2016 , to focus on low cost-of-supply projects in our portfolio that strategically fit our development plans . we generated approximately $ 16 billion in total consideration from the disposition of certain noncore assets which were directed to our stated cash priorities and general corporate purposes . for additional information on our dispositions , see note 4assets held for sale , sold or acquired in the notes to consolidated financial statements . in 2017 , we reduced debt by $ 7.6 billion to $ 19.7 billion at year-end and repurchased 64 million shares of our common stock totaling $ 3 billion . consistent with our commitment to grow our distributions , in the first quarter of 2017 , we increased our quarterly dividend by 6 percent to $ 0.265 per share . we are managing our business to optimize and deliver on our value propositions and cash priorities in a demanding business environment . business environment after elevated levels of volatility in 2016 , global market fundamentals trended towards a firmer balance in 2017. crude oil prices improved in 2017 as a result of slower growth in global oil production , strong global oil demand and lower global inventory levels . the energy industry has periodically experienced this type of extreme volatility due to fluctuating supply-and-demand conditions . commodity prices are the most significant factor impacting our profitability and related reinvestment of operating cash flows into our business . our strategy is to create value through price cycles by delivering on the disciplined financial and operational priorities that underpin our value proposition . 31 priorities the priorities we believe will drive our success through the price cycles include : focus on financial returns . this is a core aspect of our value proposition . our goal is to achieve strong financial returns by controlling our costs , exercising capital discipline and continually optimizing our portfolio . ¡ control costs and expenses . controlling operating and overhead costs , without compromising safety and environmental stewardship , is a high priority . we monitor these costs using various methodologies that are reported to senior management monthly , on both an absolute-dollar basis and a per-unit basis . managing operating and overhead costs is critical to maintaining a competitive position in our industry , particularly in a low commodity price environment . the ability to control our operating and overhead costs impacts our ability to deliver strong cash from operations . in 2017 , including asset disposition impacts , we reduced our production and operating expenses by 9 percent as compared to 2016 . ¡ maintain capital discipline . we participate in a commodity price-driven and capital-intensive industry , with varying lead times from when an investment decision is made to the time an asset is operational and generates cash flow . as a result , we must invest significant capital dollars to explore for new oil and gas fields , develop newly discovered fields , maintain existing fields , and construct pipelines and lng facilities . given our view of greater price volatility , we have shifted our capital allocation to focus on shorter cycle time , low cost-of-supply , unconventional programs in our resource base . our cash allocation priorities call for the investment of sufficient capital to maintain production and pay the existing dividend . additional allocations of capital toward growth projects will be dependent on satisfaction of other financial priorities . we use a disciplined approach , focused on value maximization and cash flow expansion , to set our capital plans . in november 2017 , we announced a 2018 capital budget of $ 5.5 billion , including $ 3.5 billion of sustaining capital and $ 2 billion in accretive , short-cycle unconventional programs , future major projects and exploration activities . ¡ optimize our portfolio . we continue to optimize our asset portfolio by focusing on low cost-of-supply assets which strategically fit our development plans . in 2017 , we generated approximately $ 16 billion in total consideration from dispositions of certain noncore assets in our portfolio , including our 50 percent nonoperated interest in the fccl partnership , as well as the majority of our western canada gas assets ; our interests in the san juan basin ; and our interest in the panhandle assets . we will continue to evaluate our assets to determine whether they fit our strategic direction and will optimize the portfolio as necessary , directing our capital investments to areas that align with our objectives . story_separator_special_tag 37 2016 vs. 2015 loss attributable to conocophillips decreased $ 813 million in 2016. the decrease was mainly due to : lower exploration expenses . exploration expenses decreased mainly due to reduced leasehold impairment expense and dry hole costs . lower proved property and equity investment impairments , including the absence of a $ 1.5 billion before- and after-tax impairment of our equity investment in aplng in 2015. lower production and operating expenses . a $ 161 million net deferred tax benefit resulting from a reduction in the u.k. tax rate , which was enacted in september 2016 and effective january 1 , 2016. the absence of a $ 129 million deferred tax charge from increased corporate tax rates in canada in 2015. the decrease in loss was partly offset by : lower commodity prices . the absence of a $ 555 million net deferred tax benefit resulting from a change in the u.k. tax rate in 2015. lower crude oil , natural gas liquids , and gas sales volumes . lower equity earnings , primarily driven by increased dd & a expense , as well as a 2016 deferred tax charge of $ 174 million resulting from the change of the tax functional currency for aplng to u.s. dollar . higher interest and debt expense . lower gain on dispositions , mainly due to the absence of a $ 368 million after-tax gain on the disposition of certain properties in our lower 48 segment . income statement analysis 2017 vs. 2016 sales and other operating revenues increased 23 percent in 2017 , mainly due to higher realized prices across all commodities , partly offset by lower sales volumes , primarily in our lower 48 , asia pacific and middle east , and canada segments as a result of dispositions . equity in earnings of affiliates increased $ 720 million in 2017. the increase in equity earnings was primarily due to higher realized commodity prices at qg3 , aplng and fccl ; the absence of a 2016 deferred tax charge of $ 174 million resulting from a tax functional currency change ; and reduced costs mainly from the disposition of our interest in the fccl partnership . the increase in earnings was partly offset by lower volumes as a result of our fccl disposition . gain on dispositions increased 505 percent in 2017. the increase was primarily due to a before-tax gain of $ 2.1 billion on the sale of our 50 percent nonoperated interest in the fccl partnership , as well as the majority of our western canada gas assets . for additional information on gains on dispositions , see note 4assets held for sale , sold or acquired , in the notes to consolidated financial statements . other income increased 107 percent in 2017 , mainly due to a $ 337 million before- and after-tax international centre for settlement of investment disputes ( icsid ) arbitration award from the republic of ecuador . the increase was partly offset by the absence of a gain of $ 88 million from our receipt of mineral properties and active leases from the greater northern iron ore properties trust and a $ 76 million before-tax damage claim settlement , both in our lower 48 segment in 2016. purchased commodities increased 25 percent in 2017 , mainly due to higher commodity prices and increased activity . 38 selling , general and administrative ( sg & a ) expenses decreased 22 percent in 2017 , primarily due to reduced restructuring expenses , lower headcount and reduced activity . exploration expenses decreased 51 percent in 2017 , primarily as a result of lower leasehold impairment expense , dry hole costs and other exploration expenses . leasehold impairment expense was reduced mainly due to the absence of 2016 before-tax charges of $ 203 million for our gibson and tiber leaseholds . the expense was further reduced by the absence of before-tax charges of $ 95 million for our melmar leasehold and $ 79 million for various gulf of mexico leases after completion of marketing efforts . the reduction was partly offset by a before-tax charge of $ 51 million for shenandoah in deepwater gulf of mexico and a before-tax charge of $ 38 million for certain mineral assets in our lower 48 segment , both in 2017. dry hole costs were reduced primarily due to the absence of 2016 before-tax charges in deepwater gulf of mexico of $ 249 million for our gibson and tiber wells , and $ 128 million for our melmar well . the absence of a $ 256 million before-tax charge in 2016 for two dry holes in nova scotia further reduced costs . the reduction in dry hole costs was partly offset by 2017 before-tax charges of $ 288 million for multiple wells in shenandoah , including wells previously suspended , and $ 63 million for several wells in the powder river basin . other exploration expenses were reduced mainly due to the absence of a $ 146 million before-tax expense in 2016 related to the cancellation of our final gulf of mexico deepwater drillship contract , as well as lower rig stacking costs in angola . the decrease in expense was partly offset by a $ 43 million net before-tax charge in 2017 for the settlement of our drilling rig contract in angola . for additional information on leasehold impairments and other exploration expenses , see note 7suspended wells and other exploration expenses , and note 8impairments , in the notes to consolidated financial statements . dd & a decreased 24 percent in 2017 , mainly due to lower unit-of-production rates from reserve revisions and disposition impacts in our canada and lower 48 segments . impairments increased $ 6,462 million in 2017. for additional information , see note 8impairments , in the notes to consolidated financial statements . interest and debt expense decreased 12 percent in 2017 , primarily due to impacts from the fair market value method of apportioning

