ConocoPhillips – Page 9

With Big Players Come Big Rig Counts: XOM, COP, CVX Report Q2

July 28, 2017

In the past two days ExxonMobil Corporation (ticker: XOM), Chevron Corporation (ticker: CVX), and ConocoPhillips (ticker: COP) all reported second quarter earnings and gave operational updates. ExxonMobil ExxonMobil earned $3.4 billion in Q2, which brought the company’s earnings for the year-to-date to $7.4 billion. This represents a 97% improvement from the same quarter of 2016—in which Exxon earned $1.7 billion.

Elk Petroleum to Acquire Freeport-McMoRan’s Wyoming Gas and CO2 Production Assets

January 4, 2017

Elk secures second largest CO2 supply source in Wyoming for CO2 EOR; profitable production of ~3,400 BOEPD (20 MMSCFD+) Freeport-McMoRan has sold another group of oil and gas assets. Australia’s Elk Petroleum Ltd (ticker: ELK) has entered into a purchase and sale agreement with subsidiaries of Freeport-McMoRan Inc. (ticker: FCX) to acquire all of FCX’s interest in the Madden Gas Field,

ConocoPhillips May Sell Kenai LNG plant

November 18, 2016

From Alaska Dispatch News ConocoPhillips said Thursday it’s in the “initial stages” of trying to sell its plant on the Kenai Peninsula that for nearly 50 years liquefied natural gas from Cook Inlet for export to overseas markets. The company, adjusting to low oil and LNG prices that have battered the industry, cited “market conditions” in a statement issued Thursday. It

ConocoPhillips Re-gears Company for $50 Breakeven Oil Price

November 11, 2016

ConocoPhillips: we can manage cycles without chasing them ConocoPhillips (ticker: COP) held an analyst and investor meeting Thursday outlining the company’s goals moving into 2017 and beyond. COP – the 13th largest oil and gas company in the world by enterprise value – is now gearing its business to manage the cyclicality of oil and gas without chasing trends in

Oil & Gas 360 - ConocoPhillips ups drilling program in Eagle Ford - Oil & Gas 360

ConocoPhillips Shifts Capital into the Bakken and Eagle Ford in a Late 2016 Move

October 27, 2016

COP adding 5 rigs in the Bakken and Eagle Ford in Q4 2016 The world’s largest independent E&P, ConocoPhillips (ticker: COP), reported a third-quarter 2016 net loss of $1.0 billion, or ($0.84) per share today. But the company snagged its analysts’ attention in today’s conference call when executives disclosed that it had shifted capital from deepwater and large projects into two U.S. shale basins. In its

Chevron, Exxon, and ConocoPhillips Remain Focused on U.S. Onshore, LNG

August 1, 2016

Q2 proves to be a disappointing quarter for majors like Chevron, ExxonMobil and ConocoPhillips in terms of earnings, but the companies remain focused on the future U.S.-based oil and gas majors Chevron (ticker: CVX), ExxonMobil (ticker: XOM), and ConocoPhillips (ticker: COP) all reported their second quarter earnings last week, each showing significant hits from the continued oil and gas downturn.

Offshore Alaska: DOI Adds More Drilling Regulations

July 7, 2016

President Obama ‘turning his back on the livelihoods of Alaskans who depend on resource development’ Today, the United States Department of the Interior and the Bureau of Ocean Energy Management released 348 pages of new Requirements for Exploratory Drilling on the Arctic Outer Continental Shelf. Today’s rule addresses certain key factors associated with conducting offshore oil and gas activities on the Arctic

Energy Upside: Production Begins at the National Petroleum Reserve in Alaska

March 4, 2016

ConocoPhillips expects peak production of 16 MBOPD from National Petroleum Reserves Oil began to flow for the first time from Alaska’s National Petroleum Reserves this week since President Warren G. Harding dedicated the resources as an emergency supply of oil for the U.S. in 1923. The North Slope project, operated by ConocoPhillips (ticker: COP, ConocoPhillips.com), is expected to produce 16

As ConocoPhillips Exits Russia, Tehran and Moscow Strengthen their Energy Ties

December 29, 2015

ConocoPhillips sells stake in Rosneft joint venture Five years ago, U.S. oil major ConocoPhillips (ticker: COP) sold its single largest asset in Russia, a stake in Lukoil (ticker: LKOH), for $9.5 billion. Last week COP announced that it has sold its 50% stake in the Polar Lights joint venture with Russian state-owned oil company Rosneft (ticker: RNFTF), its last project

ConocoPhillips Cuts North American Spending by 30%

December 11, 2015

Management said 2016 volumes will rise by 1% to 3%, fueled by project startups in Alaska, Australia and Canada oil sands ConocoPhillips (ticker: COP) is ramping down its 2016 operations, with the majority of the pullback focused on North America. The 2016 guidance release, issued on December 10, 2015, outlines a capital budget of $7.7 billion – about 25% below

Alaska Looks to Buy Out TransCanada’s Share of Alaska LNG for $68 Million

November 2, 2015

All parties seem to agree, but holdup remains The state of Alaska plans to buy out TransCanada’s (ticker: TRP) share of the Alaska LNG project. Both Alaska Governor Bill Walker and TransCanada have agreed to the deal, according to Alaska Dispatch News, but the funds necessary to purchase TransCanada’s share in the project still need to be approved. Alaska LNG

ConocoPhillips Looking to Divest 35,000 BOEPD of Production in Canada

September 24, 2015

Assets could be worth $1 billion, according to estimates ConocoPhillips (ticker: COP), the third-largest North American oil and gas producer, is looking to divest assets in Western Canada to various buyers including Canadian Natural Resources (ticker: CNQ), sources familiar with the matter told Bloomberg. The sources shared the information under the condition of anonymity due to the private nature of

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