ConocoPhillips, the nation's third-largest oil and gas producer, said Wednesday profit rose 13 percent as stronger exploration and production results yielded the best first-quarter earnings since Phillips Petroleum and Conoco combined in 2002.

Net income jumped to $3.29 billion, or $2.34 per share for the January-March period.

ConocoPhillips is the first of the three largest U.S. oil companies to report earnings this week. Exxon Mobil reports today and Chevron on Friday. The three were expected this week to report more than $16 billion in first-quarter profits.

Compiled from The Associated Press

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