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ConocoPhillips (COP)

COP on New York Consolidated

47.86USD
27 Apr 2017
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Latest Key Developments (Source: Significant Developments)

No vote on Conocophillips deal because confidentiality -Cenovus
Wednesday, 26 Apr 2017 04:57pm EDT 

April 26 (Reuters) - Cenovus Energy Inc :Says has ability to cut deep basin spending to focus on oil sands.Chief Executive Brian Ferguson says new deep basin gas assets could be 'crown jewel' and 'absolutely core'.Chair Michael Grandin, asked why no shareholder vote on ConocoPhillips deal, says 'once in a lifetime' deal needed confidentiality.  Full Article

Cenovus says 'not worried' about recent complaint to regulator
Wednesday, 26 Apr 2017 11:57am EDT 

April 26 (Reuters) - Cenovus Energy Inc :Says in Q3 will have more information on Suffield and Pelican Lake asset sales.Says will have more information on other asset sales on investor day in June.Says does not expect ConocoPhillips to be long-term shareholder of it after recent deal, but mechanisms exist for "orderly" share sales.Says "absolutely not worried" about complaint to regulator about ConocoPhillips deal.  Full Article

Cenovus qtrly earnings per share $0.25
Wednesday, 26 Apr 2017 06:00am EDT 

April 26 (Reuters) - Cenovus Energy Inc ::Cenovus delivers strong first quarter operational performance.Qtrly operating loss per share $0.05.Says foster creek production averaged 80,866 bbls/d net in q1 of 2017, 33% more than in same period of 2016.Qtrly earnings per share $0.25.Says Christina Lake in Q1, production averaged 100,635 bbls/d net, a 31% increase from same period in 2016.Qtrly adjusted funds flow per share 0.39.Cenovus Energy Inc - on track with plan to integrate deep basin assets and staff upon closing.Cenovus energy-since announcing agreement to purchase Conocophillips assets, Cenovus has made significant progress in executing its acquisition plan.Cenovus- To reduce debt related to Conocophillips deal, co has been marketing pelican lake, suffield conventional assets with data rooms open to buyers.Cenovus Energy Inc - continued to achieve additional operating cost and sustaining capital reductions in q1 of 2017.Cenovus- Plans to sell a significant portion of its legacy conventional properties to help finance company's acquisition of deep basin and fccl assets.  Full Article

Cenovus Energy Inc q1 earnings per share $0.25
Wednesday, 26 Apr 2017 06:00am EDT 

April 26 (Reuters) - Cenovus Energy Inc :Qtrly adjusted funds flow per share $0.39.Cenovus delivers strong first quarter operational performance.Qtrly operating loss per share $0.05.Says foster creek production averaged 80,866 bbls/d net in q1 of 2017, 33% more than in same period of 2016.Qtrly earnings per share $0.25.Says christina lake in q1, production averaged 100,635 bbls/d net, a 31% increase from same period in 2016.Cenovus energy inc - on track with plan to integrate deep basin assets and staff upon closing.Cenovus energy-since announcing agreement to purchase conocophillips assets, cenovus has made significant progress in executing its acquisition plan.Cenovus-To reduce debt related to conocophillips deal, co has been marketing pelican lake, suffield conventional assets with data rooms open to buyers.Cenovus energy inc - continued to achieve additional operating cost and sustaining capital reductions in q1 of 2017.Cenovus-Plans to sell a significant portion of its legacy conventional properties to help finance company's acquisition of deep basin and fccl assets.Cenovus energy inc - q1 total oil production 234,914 bbls/d versus 197,551 bbls/d.  Full Article

Hilcorp affiliate to acquire San Juan Basin assets from ConocoPhillips
Thursday, 13 Apr 2017 07:35am EDT 

Hilcorp San Juan L.P.: Hilcorp affiliate to acquire San Juan Basin assets from ConocoPhillips .Hilcorp - Hilcorp San Juan, L.P. Has entered into a definitive agreement to purchase interests in San Juan basin from ConocoPhillips.  Full Article

Conocophillips announces agreement to sell San Juan basin assets
Thursday, 13 Apr 2017 07:30am EDT 

Conocophillips : Conocophillips announces agreement to sell San Juan basin assets . Conocophillips - to sell its interests in San Juan basin to an affiliate of Hilcorp Energy company for up to $3.0 billion of total proceeds . Says deal comprises of $2.7 billion in cash and a contingent payment of up to $300 million . Conocophillips - contingent payment is effective beginning Jan. 1, 2018 and has a term of six years . Conocophillips- expects to record a non-cash impairment on assets in Q2 of 2017 . Conocophillips - company expects to record a non-cash impairment on assets in Q2 of 2017 . Conocophillips - including recently announced Canadian asset sales, the transactions will materially reduce co's exposure to North American gas .Conocophillips - post Canadian and San Juan basin transactions, sees 2017 nar production on pro forma basis of 1,145 – 1,175 mboed.  Full Article

Seadrill: North Atlantic drilling wins ConocoPhillips contract
Tuesday, 11 Apr 2017 01:45am EDT 

Seadrill Ltd : north atlantic drilling announces contract awards for the West Wlara and the West Linus . Total additional backlog for new contract awards is estimated at $1.4 billion excluding performance bonuses. . As part of agreement, company has agreed to a dayrate adjustment on existing west linus contract effective from april 2017, resulting in a $58 million reduction in current backlog. . New west elara contract which is expected to commence in october 2017 includes a period of fixed dayrates until march 2020 and contributes approximately $160 million of contract backlog. A . Contract on west linus has been extended from may 2019 until end of 2028 at a market indexed dayrate, which company believes will contribute an estimated $706 million of contract backlog. .Work is for ConocoPhillips at the Ekofisk field off Norway..  Full Article

Cenovus achieves key acquisition financing milestones
Thursday, 6 Apr 2017 08:02pm EDT 

Cenovus Energy Inc : Cenovus achieves key acquisition financing milestones . Cenovus Energy Inc - acquisition is expected to close in Q2 of this year . Cenovus Energy - issuing common shares to conocophillips and intends to use portion of existing cash on hand and available credit facility capacity to help finance acquisition . Has fully committed bridge financing in place to manage timing differences in funding of transaction . Cenovus Energy Inc - on closing of acquisition, company anticipates having approximately $4 billion in remaining liquidity, including $1 billion in cash on hand . Cenovus Energy Inc - Cenovus expects to have capacity to generate 2018 free funds flow of approximately $500 million in a US$50 WTI price environment .As part of plan to deleverage, strengthen balance sheet t, co expects to make additional asset divestitures as required.  Full Article

Canada energy minister says Cenovus-Conocophillips deal is a market decision
Thursday, 30 Mar 2017 11:11am EDT 

Cenovus Energy Inc : Canada energy minister, pressed on Cenovus-Conocophillips deal, says "these are market decisions" . Canada energy minister says Cenovus-Conocophillips deal shows Canadian investors giving vote of confidence to Alberta Further company coverage: [CVE.TO] (Reporting by David Ljunggren) ((david.ljunggren@thomsonreuters.com;)).  Full Article

Canada's Cenovus to review dividends after buying ConocoPhillips assets
Wednesday, 29 Mar 2017 05:17pm EDT 

Cenovus Energy Inc :Says will review dividends, after acquisition of ConocoPhillips Co assets in Canada.  Full Article

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