May 8 (Reuters) - ConocoPhillips ( COP ) beat Wall

Street estimates for first-quarter profit on Thursday, as the

Texas-based oil and gas producer benefited from higher

production.

On an adjusted basis, ConocoPhillips ( COP ) reported a profit of

$2.09 per share for the three months ended March 31, compared

with analysts' average estimate of $2.06, according to data

compiled by LSEG.