ConocoPhillips believes it can pursue about $1 billion of asset sales annually and not jeopardize its long-term growth priorities. It will do so by selling off non-core assets that aren't critical to the company's future. The result of all these initiatives is that the company expects to become free cash flow-neutral by 2017 and beyond, even in an environment of $60 Brent crude. On an earnings basis, ConocoPhillips' trailing 12 month EPS of $4.02 still covers its $2.96 per-share payout.