Post Tagged with: "ConocoPhillips"

Source: Reuters

ConocoPhillips beats profit forecast as production hits record high

Oil Price


ConocoPhillips (NYSE: COP) reported on Thursday consensus-beating earnings for the fourth quarter of 2023, driven by record oil and gas production.

The U.S. oil and gas company booked fourth-quarter 2023 adjusted earnings of $2.9 billion, or …

Source: Reuters

ConocoPhillips signs 20-year LNG agreement from Mexican terminal

World Oil


(Bloomberg) – ConocoPhillips agreed to a long-term deal to buy liquefied natural gas from an export terminal being developed on Mexico’s west coast. Under a 20-year agreement, ConocoPhillips will buy approximately 2.2 million tons of LNG annually from …

August 4, 2023 - 1:30 pm Closing Bell Story‎, Crude Oil News, Energy News, LNG, Mexico
Source: Reuters

ConocoPhillips announces cash tender offer for up to $750 million of debt securities

BOE Report


HOUSTON – ConocoPhillips (NYSE: COP) (“COP”) announced today that ConocoPhillips and its wholly-owned subsidiary, ConocoPhillips Company (“CPCo”), have commenced a cash tender offer (the “Tender Offer”) to purchase outstanding notes listed in the table below (collectively, …

Source: Reuters

ConocoPhillips reports first quarter 2023 results; raises full year production guidance midpoint and declares quarterly dividend and variable return of cash distribution

BOE Report


HOUSTON–(BUSINESS WIRE)–ConocoPhillips (NYSE: COP) today reported first-quarter 2023 earnings and adjusted earnings of $2.9 billion, or $2.38 per share, compared with first-quarter 2022 earnings of $5.8 billion, or $4.39 per share, and first-quarter 2022 adjusted …

ConocoPhillips wins ruling to continue work on $8 billion “Willow” oil project

ConocoPhillips wins ruling to continue work on $8 billion “Willow” oil project

World Oil


(Bloomberg) – A federal judge in Alaska denied a bid by environmentalists and an indigenous group to block ConocoPhillips from opening a gravel mine and conducting other work at its $8 billion Willow oil project in the state.…

Source: Reuters

Alaska condemns restrictions on Alaskan oil drilling project by Biden administration

World Oil


(Bloomberg) – Alaska’s senators sharply condemned any potential Biden administration move to authorize ConocoPhillips’ $8 billion Willow oil project with restrictions so onerous it wouldn’t be viable, warning that would be seen as a rejection — and an …

Source: Reuters

Biden backs scaled-down drilling plan for ConocoPhillips’ Alaska oil project

World Oil


(Bloomberg) — The Biden administration telegraphed it could support a scaled-back drilling plan at ConocoPhillips’s proposed Willow project in northwest Alaska, even as it cited “substantial concerns” with the oil development and warned of further restrictions to limit …

Source: Reuters

ConocoPhillips joins rivals with bumper profit on higher energy prices

Yahoo Finance


ConocoPhillips said on Thursday profit more than doubled to $18.7 billion in 2022, the highest since the company spun off its refining business in 2012, as the oil producer benefited from stronger prices on tight supplies and robust …

Source: CNBC

U.S. oil giants Exxon Mobil, Chevron and ConocoPhillips challenged over ‘secretive’ tax practices

CNBC


Oxfam on Monday filed shareholder resolutions against U.S. oil giants Exxon MobilChevron and ConocoPhillips, saying a lack of transparency over their global tax practices poses a material risk for long-term investors.

The international relief charity said …

Source: Reuters

Eni to join Exxon, Total, Shell, Conoco in Qatar’s mega-LNG expansion – sources

Yahoo Finance


HOUSTON – Italian producer Eni has been picked, along with another four oil majors, by Qatar as partners in the near $30 billion expansion of the world’s largest liquefied natural gas (LNG) project, people with knowledge of the

Source: Reuters

Santos dispute with ConocoPhillips snags Alaska oil project, stake sale

World Oil


Australia’s Santos Ltd. is locked in a dispute with ConocoPhillips over road access in Alaska, potentially holding up a $3 billion oil project, according to letters from both companies to the U.S. state’s government.

The dispute could also …

Source: CNBC

ConocoPhillips CEO says a decision to drill more today won’t see oil flowing for up to a year

CNBC


ConocoPhillips CEO Ryan Lance told CNBC on Tuesday that a decision now to start drilling for new oil will not bring immediate relief to the elevated prices seen around the globe.

Lance’s comments, made in an interview on “TechCheck,”

Source: Reuters

Higher energy prices drive ConocoPhillips’ quarterly profit beat

Reuters


U.S. oil producer ConocoPhillips topped market estimates for fourth-quarter profit on Thursday and boosted its plan for shareholder returns by $1 billion, as it benefited from sharply higher oil and gas prices.

Easing of global travel restrictions and tight …

Source: World Oil

WPC 2021: ConocoPhillips CEO says U.S. government holds back oil supply

World Oil


(Bloomberg) –In the debate over why U.S. oil producers haven’t added additional supply, the boss of ConocoPhillips lays the blame squarely with the government.

An increasingly bitter war of words has developed between the Biden administration, which has …

Source: Reuters

ConocoPhillips announces completion of all-cash permian asset acquisition

ConocoPhillips (NYSE: COP) today announced that it has completed its acquisition of She…

Source: Reuters

Judge voids ConocoPhillips Alaska project approved by Trump

World Oil


Source: Reuters

ConocoPhillips reports first-quarter 2021 results; declares quarterly dividend; announces debt-reduction plan and intention to begin sales of Cenovus shares with proceeds to fund incremental buybacks; schedules midyear market update

ConocoPhillips (NYSE: COP) today reported first-quarter 2021 earnings of $1.0 billion, …

Source: Reuters

ConocoPhillips sees higher Q1 output, warns of profit hit from unwinding hedges

Reuters


ConocoPhillips said on Wednesday its first-quarter results will benefit from higher oil prices and output, while warning of a $600 million profit hit from its recent acquisition of Concho Resources and related commodity price hedges.

Higher oil prices and

Source: Reuters

ConocoPhillips resumes share buybacks, promises capital discipline

Reuters


ConocoPhillips said on Wednesday it has resumed its share buyback program and pledged to keep spending flat even as oil prices climbed, the latest U.S. energy firm to embrace investor returns over production growth.

Despite the uptick in crude …

Source: Reuters

Court order delays construction at ConocoPhillips’ Alaska project

Reuters


ANCHORAGE, Alaska – A weekend court ruling has temporarily blocked winter construction at a huge ConocoPhillips oil project on Alaska’s North Slope.

U.S. District Court Judge Sharon Gleason issued an order Saturday barring ConocoPhillips from starting planned gravel mining …

February 8, 2021 - 11:00 am Arctic, Closing Bell Story‎, Crude Oil News, Energy News
Source: Reuters

ConocoPhillips reports fourth-quarter and full-year 2020 results; announces quarterly dividend

Oil and Gas 360


The 2020 results discussed herein reflect the performance of ConocoPhillips prior to the acquisition of Concho, which closed in January 2021.

ConocoPhillips (NYSE: COP) today reported a fourth-quarter 2020 loss of $0.8 billion, or ($0.72) per …

Source: Reuters

ConocoPhillips forecasts smaller-than-expected loss, to resume buybacks

Reuters


ConocoPhillips COP.N on Wednesday forecast a smaller-than-expected quarterly adjusted loss and said it would resume buying back its shares after a historic collapse in crude prices forced the U.S. oil and gas producer to halt the program in April.…

Source: Reuters

ConocoPhillips posts worse loss than feared on oil price plunge, shares fall

Reuters


ConocoPhillips reported a wider-than-expected loss on Thursday, as coronavirus-induced lockdowns sapped demand for fuel and crushed crude prices, sending shares of the world’s largest independent oil and gas producer down nearly 9%.

The pandemic brought travel and other businesses …

ConocoPhillips to bring back some curtailed production

ConocoPhillips to bring back some curtailed production

Reuters


ConocoPhillips said on Tuesday it would bring back some of the curtailed production in July, joining a growing list of oil producers turning on the taps months after a plunge in demand slammed the brakes on drilling.

U.S. shale …

June 30, 2020 - 12:00 pm Closing Bell Story‎, Crude Oil News, Energy News
Source: CNBC

Oil drops 2%, snapping five-day winning streak in volatile trading session

CNBC


Oil prices dropped on Wednesday, snapping a five-session winning streak, as oversupply concerns outweighed optimism over economies reopening.

West Texas Intermediate, the U.S. benchmark, shed 2.3%, or 57 cents, to settle at $23.99 per barrel. In a volatile …

US oil shut-ins in numbers: Expect at least 300,000 barrels per day shut during May and June

US oil shut-ins in numbers: Expect at least 300,000 barrels per day shut during May and June

Rystad Energy


US oil production of at least 300,000 oil barrels per day (bpd) will be shut during May and June, according to a Rystad Energy analysis of early communication from US oil producers. It is unclear how much of …

Source: Reuters

Half of announced North American oil cuts come from just three companies

Reuters


Numerous U.S. and Canadian oil companies have said they are reducing output in 2020, but a Reuters analysis of the announcements so far show that just three companies – Chevron, ConocoPhillips and Occidental Petroleum – account for more than …

Source: Houston Chronicle

ConocoPhillips’ fourth-quarter profit plunges by 60%

Houston Chronicle


ConocoPhillips’ fourth-quarter profit declined by more than 60 percent, to $720 million from $1.9 billion in the same period last year, amid weaker oil prices and production outputs.

Revenue during the quarter dropped by more than 20 percent …

Source: Houston Chronicle

ConocoPhillips sets capital spending at less than $7B a year through 2029

Houston Chronicle


ConocoPhillips said Tuesday it aims to keep its capital spending at an average of less than $7 billion per year through 2029, including selling a 25 percent stake in its large Alaska business in order to keep costs …

Source: Houston Chronicle

Big Oil majors looking to sell $27 billion in assets worldwide

Source: Houston Chronicle


The Big Oil majors aim to unload about $27 billion in oil and gas assets worldwide in order to cut costs and focus spending on their core projects.

U.S. giants Exxon Mobil and Chevron for instance are …