(BOE Report)– U.S. oil company ConocoPhillips is laying off employees at its Canadian operations, according to three sources and a company memo reviewed by Reuters, as it moves to cut up to a quarter of its global workforce by next year. The memo did not specify how many layoffs would take place but said they would begin at the company’s Canadian
(World Oil)– Equatorial Guinea has signed a Heads of Agreement (HOA) with ConocoPhillips to develop offshore Blocks B/4 and EG-27, a deal expected to unlock up to $9 billion in investment and support the country’s ambition to expand its role as a regional gas processing hub. The HOA, signed by ConocoPhillips alongside the Ministry of Hydrocarbons and Mining Development, national
(World Oil) – ConocoPhillips has signed a long-term sales and purchase agreement (SPA) to purchase 4 million tonnes per annum (MMtpa) of liquefied natural gas (LNG) from the Port Arthur LNG Phase 2 project under development by Sempra Infrastructure. Under the agreement, ConocoPhillips will offtake LNG over a 20-year term on a free-on-board basis, supporting the company’s ability to reliably
(Oil Price)– Vietnam has bought its first cargo of U.S. crude oil for 2025, Reuters reported on Thursday, citing sources. Vietnam, which is estimated to have made its previous purchase of U.S. crude at the end of last year, has now bought 1 million barrels of West Texas Intermediate crude for November delivery, according to Reuters’ sources. Vietnamese refinery Binh Son
(World Oil)– ConocoPhillips has contracted Halliburton to deliver comprehensive well stimulation services to improve well performance and reservoir productivity. The contract spans five years and includes three optional extension periods. Under the agreement, Tidewater’s vessel, North Pomor, will be transformed into an advanced stimulation vessel designed to efficiently deliver offshore well stimulation services in the North Sea. The improvements will include Octiv® digital fracturing
(BOE Report)– ConocoPhillips will sell its Anadarko Basin assets for $1.3 billion, the energy producer said on Thursday, after beating Wall Street estimates for second-quarter profit. Shares of the company rose nearly 2% in premarket trade. The asset sale, expected to close at the beginning of the fourth quarter, pushes ConocoPhillips past its $2 billion non-core asset disposition target ahead
(Oil Price)– One of the top U.S oil and gas producers, ConocoPhillips, is in an advanced stage of discussions to sell assets in Oklahoma to privately-held Stone Ridge Energy in a deal that could be worth about $1.3 billion, Reuters reports, citing sources with knowledge of the talks. ConocoPhillips last year acquired Marathon Oil in an all-stock deal with an enterprise value
(Oil Price)– ConocoPhillips has submitted a formal application to federal regulators seeking approval to drill four new exploratory wells and conduct seismic testing west of its $7.5 billion Willow oil development in Alaska’s National Petroleum Reserve, Bloomberg reports. The proposal, filed with the Bureau of Land Management, would significantly extend the company’s Arctic footprint and marks its most ambitious exploration
(Oil & Gas 360) – HOUSTON–(BUSINESS WIRE)–ConocoPhillips (NYSE: COP) today announced that W.L. (Bill) Bullock, executive vice president and chief financial officer, will retire from ConocoPhillips after 39 years of distinguished service. Andy O’Brien, currently senior vice president, Strategy, Commercial, Sustainability and Technology, will succeed Bill as chief financial officer, effective June 1, 2025. Andy will also retain responsibility for Strategy, Commercial
(World Oil) – Rising Phoenix Capital, an investment firm specializing in oil and gas mineral royalty acquisitions, have announced a strategic purchase of mineral interests in Ector and Midland Counties, TX, operated by ConocoPhillips. This purchase strengthens the firm’s growing position in the core of the Midland basin, widely regarded as one of the most prolific energy-producing regions in the United
(BOE Report) – ConocoPhillips is exploring the sale of oil and gas assets in Oklahoma that it inherited from its $22.5 billion takeover of Marathon Oil last year, people familiar with the matter said. The energy producer has hired investment bank Moelis & Co to run the sale process for the assets, the sources said, adding that the talks are at an early
(Investing) – HOUSTON – A U.S. federal judge trying to move ahead with an auction of shares in the parent of Venezuela-owned U.S. refiner Citgo Petroleum is dealing with a fresh dispute between creditors after a lowball starting bid was recommended in a reboot of the sale. The complex auction meant to repay 18 creditors for debt defaults and expropriations by
