U.S. oil giant ConocoPhillips (NYSE: COP) , for example, boosted its budget twice, raising it from $5.5 billion up to $6.1 billion. Driving ConocoPhillips' budget increases have been a combination of service cost inflation and an unexpectedly higher level of drilling activities by some of its drilling partners. *Stock Advisor returns as of August 6, 2018 Matthew DiLallo owns shares of ConocoPhillips.