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ConocoPhillips (COP.N)

COP.N on New York Stock Exchange

9 Dec 2016
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Latest Key Developments (Source: Significant Developments)

ConocoPhillips expects 600 workers at its Canadian oil sands facilities by week's end
Wednesday, 1 Jun 2016 02:55pm EDT 

ConocoPhillips : Spokesman says expects 600 workers at its Surmont project in Canada's fire-stricken oil sands region by week's end, up from 350 last Friday . ConocoPhillips spokesman says has "no confirmed date for production to resume" at Surmont, hopes to have more concrete timeline within 48 hours Further company coverage: [COP.N] (Reporting by Eric M. Johnson in Calgary, Alberta) ((Eric.m.johnson@thomsonreuters.co)).  Full Article

ConocoPhillips Canada president says Surmont has power
Tuesday, 10 May 2016 05:12pm EDT 

: ConocoPhillips President Ken Lueers says a team is at Surmont oil sands site, which has power . ConocoPhillips Canada president says no timeline on Surmont restart Further company coverage: [COP.N] (Reporting By Allison Martell) ((Allison.Martell@thomsonreuters.com;)).  Full Article

ConocoPhillips announces executive leadership changes
Thursday, 18 Feb 2016 08:00am EST 

ConocoPhillips:Announces executive leadership changes.Says CFO Jeff Sheets to retire.Don Wallette, Jr. has been named executive vice president, Finance, commercial and chief financial officer.Says sheets will remain in his current position until the effective date of April 1.Al Hirshberg, executive vice president, technology and projects, named executive vice president, production, drilling and projects.  Full Article

ConocoPhillips gives FY 2016 production guidance
Thursday, 4 Feb 2016 07:00am EST 

ConocoPhillips:Says production in FY 2016 is expected to be about flat with 2015 volumes, adjusted for full-year impact of 2015 asset divestitures.  Full Article

ConocoPhillips - North Sea storm forces oil platform evacuations, output shutdown - Reuters
Thursday, 31 Dec 2015 02:08am EST 

ConocoPhillips:A fierce storm in the North Sea forced oil firms to evacuate platforms and shut down production on Thursday on concerns that they could be hit by a drifting barge that had broken its anchor - RTRS.The strong winds had ripped the barge from its moorings and sent it towards BP's Valhall platform, which lies in the middle of the North Sea between Norway and Britain - RTRS.This prompted the oil and gas company to shut down output and evacuate dozens of staff on board. ConocoPhillips also stopped production and removed crew from installations in the same area.A spokeswoman for the Rescue Coordination Centre for southern Norway told Reuters the barge eventually missed the BP platform by some two kilometres.A spokesman at the Rescue Coordination Centre for southern Norway earlier told Reuters that rescue boats had been trying to establish a new towing line on the barge amid difficult sea conditions, with waves of up to 15 metres in height.  Full Article

ConocoPhillips - Lac Megantic victims' fund to begin payments without CP Rail - Reuters
Tuesday, 22 Dec 2015 07:25pm EST 

ConocoPhillips:A C$460 million settlement fund for victims of the 2013 Lac-Megantic crude-by-rail disaster will begin disbursements this week without the participation of Canadian Pacific Railway, the monitor involved in the payments said on Tuesday - RTRS.47 people were killed and the downtown core of the town was destroyed following the derailment of a Montreal Maine & Atlantic Railway, Ltd train carrying Bakken crude oil in July 2013 - RTRS.Parties previously named in a class action lawsuit launched after the disaster, including Irving Oil, General Electric Co, Royal Dutch Shell Plc, ConocoPhillips, Marathon Oil, have agreed to contribute to the settlement fund - RTRS.CP, which is being sued by the Quebec government for C$409 mln in Quebec Superior Court in a case related to the disaster, is not part of the fund, said a spokesman for Richter Advisory Group Inc - RTRS.CP is now the only company being threatened by a separate class action. The first amount of C$114 million will be transferred this week to the holders of wrongful death claims - RTRS.Canadian Pacific said it is not responsible for the disaster. "It was not our train, not our track, not our locomotive and not our crew," said CP spokesman Marty Cej in an email. - RTRS.The Quebec government lawsuit alleges CP, which hauled the cars from North Dakota to Montreal, was negligent when it handed over the tank cars to the Montreal, Maine and Atlantic Railway - RTRS.  Full Article

ConocoPhillips reaffirms FY 2015 production guidance; gives FY 2016 production guidance
Thursday, 10 Dec 2015 08:00am EST 

ConocoPhillips:Says that its FY 2015 production guidance remains unchanged at 1,585 to 1,595 MBOED, excluding dispositions.Says FY 2015 production associated with $2.3 billion of divestitures is about 70 MBOED.Adjusted for these volumes, 2015 production guidance would be 1,515 to 1,525 MBOED.Says this is the new baseline from which the company expects to grow 1 to 3 percent in FY 2016.Says all guidance excludes Libya.  Full Article

Chinese court orders ConocoPhillips to pay $266,000 over 2011 oil spills - Reuters
Thursday, 29 Oct 2015 06:45pm EDT 

ConocoPhillips:A Chinese court has ordered ConocoPhillips to pay compensation to nearly two dozen aquaculture farmers who said their livelihoods were hurt by oil spills off China's northeastern coast in 2011 - RTRS.The U.S. oil company was told to pay 1.68 mln yuan to the 21 farmers, who did not participate in a previous settlement reached in 2012 with ConocoPhillips and its partner, China National Offshore Oil Corporation (CNOOC), the Tianjin Maritime Court said in a statement on its website - RTRS.The farmers were seeking more than 141 million yuan ($22 million) from the two oil companies over leaks that were first discovered in June 2011 at the Penglai 19-3 oilfield, a joint exploration project by the two - RTRS.The leaked oil spread across as much as 6,200 sq km of water in Bohai Bay, according to court documents. The spills were sealed in October 2011, and the field, with daily production of about 160,000 barrels, was restarted in February 2013 - RTRS.The court laid responsibility for compensation solely with ConocoPhillips, the operator of the oilfield - RTRS.The two companies previously agreed to give one billion yuan in compensation for losses in the fishing industry, and 1.68 billion yuan for ecological damages in a settlement with Chinese authorities. Roughly 4,500 affected households signed onto the settlement, the court said - RTRS.  Full Article

ConocoPhillips gives Q4 2015 production guidance; reaffirms FY 2015 production guidance
Thursday, 29 Oct 2015 07:00am EDT 

ConocoPhillips:Says Q4 2015 production guidance is 1,585 to 1,625 MBOED.Says FY 2015 production guidance is 1,585 to 1,595 MBOED.  Full Article

ConocoPhillips declares quarterly dividend
Friday, 9 Oct 2015 12:30pm EDT 

ConocoPhillips:Says quarterly dividend of 74 cents per share.Payable Dec. 1 to stockholders of record at the close of business on Oct. 19.  Full Article

UPDATE 1-Norway approves hike in Troll's 2016 oil output

OSLO, Nov 25 Norway's oil and energy ministry has approved a hike in the 2016 oil output quota of the North Sea Troll field to 46.5 million barrels from 41.7 million, giving it the highest output level since 2009, documents obtained by Reuters showed on Friday.