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ConocoPhillips (COP)

COP on New York Consolidated

22 Nov 2017
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$0.21 (+0.42%)
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Latest Key Developments (Source: Significant Developments)

ConocoPhillips plan to double free cash flow in next three years
Wednesday, 8 Nov 2017 10:28am EST 

Nov 8 (Reuters) - ConocoPhillips :Says will invest $1.2 billion in shale operations annually for rest of decade.Chief Executive Ryan Lance says returns 'ultimate measure of value creation in our business'.Says 'increased shareholder distributions will compete for capital allocation'.Says production should not drop significantly unless oil prices CLc1 fall below $40/barrel for long period.Says its Alaska operations undergoing a 'renaissance'.Says its shale operations have average cost of supply below $35/barrel.Says expects to generate $1 billion in net cash flow from shale operations by 2020.Says will pump 245,000 barrels/day from Eagle Ford shale by 2020, an 89 percent increase from 2017 levels.Says will pump 80,000 barrels/day from Delaware portion of Permian shale by 2020, more than fourfold increase from 2017 levels.Says will keep Bakken shale production steady near 70,000 barrels/ day for rest of decade to generate cash flow.Says plan to double free cash flow in next three years.  Full Article

ConocoPhillips targets ‍debt reduction to $15 bln in 2019​
Wednesday, 8 Nov 2017 07:00am EST 

Nov 8 (Reuters) - ConocoPhillips : :ConocoPhillips analyst and investor meeting to outline 2018-2020 operating plan; creating value with disciplined, returns-focused strategy.ConocoPhillips - targets ‍debt reduction to $15 billion in 2019​.ConocoPhillips - ‍three-year operating plan averages annual capital expenditures of $5.5 billion​.ConocoPhillips-‍extending $1.5 billion per year of share buybacks for additional year through 2020, resulting in total 2017-2020 share buybacks of $7.5 billion​.ConocoPhillips-Targets extending $1.5 billion/year of share buybacks for additional year through 2020,resulting in total 2017-2020 share buybacks of $7.5 billion​.ConocoPhillips - sees ‍sustaining capital $3.5​ billion in 2018.ConocoPhillips - ‍ set a target to reduce greenhouse gas emissions intensity by 5-to-15 percent by 2030​.ConocoPhillips - sees 2018 ‍exploration capital spend $0.3​ billion.ConocoPhillips-2017-2020 share buybacks of $7.5 billion, debt reduction to $15 billion to represent a 20% decrease in debt-adjusted share count by year-end 2020​.  Full Article

ConocoPhillips says committed to returns-focused strategy regardless of oil price
Thursday, 26 Oct 2017 01:06pm EDT 

Oct 26 (Reuters) - ConocoPhillips :Says committed to returns-focused strategy regardless of commodity price improvement.Says plans to exceed original oil production forecast despite capital budget cut.Says no water-borne oil exports from United States in third quarter.Says 'quite possible' might see quarterly distribution from Australia Pacific LNG joint venture in fourth quarter.Says does plan to start cutting stake in Cenovus Energy Inc <<>> after lock-up period ends in November.Says currently producing more than 30,000 barrels/day of oil in Libya.Says all gas from Australia Pacific LNG that's not sold domestically is under long-term contracts to customers in China and Japan.Says some Australia Pacific LNG customers exercised right to not take up to 10 percent of contracted cargos, making some LNG available for spot sale in 2018.  Full Article

ConocoPhillips says Q3 earnings per share $0.34
Thursday, 26 Oct 2017 07:00am EDT 

Oct 26 (Reuters) - ConocoPhillips -:ConocoPhillips reports third-quarter 2017 results; lowers capital guidance and delivers on strategic and operational targets; strong momentum going into November analyst and investor meeting.Q3 adjusted earnings per share $0.16 excluding items.Q3 earnings per share $0.34.ConocoPhillips - ‍lowering full-year 2017 expected capital expenditures to $4.5 billion, a 10 percent reduction from initial guidance​.Q3 earnings per share view $0.08 -- Thomson Reuters I/B/E/S.ConocoPhillips - ‍production excluding Libya for Q3 of 2017 was 1,202 thousand barrels of oil equivalent per day (mboed), a decrease of 355 mboed.ConocoPhillips - ‍in Alaska, First Well was spud at 1h news, which remains on track for first oil by year-end​.ConocoPhillips - ‍ maintaining FY production guidance despite impacts from Hurricane Harvey.ConocoPhillips - ‍during quarter, Eagle Ford production was impacted by 15 MBOED from Hurricane Harvey, but was fully restored by quarter end​.ConocoPhillips - ‍expects to reduce debt to less than $20 billion by year-end 2017.ConocoPhillips - ‍ expects full-year share repurchases of $3 billion​.ConocoPhillips - qtrly ‍total realized price was $39.49 per barrel of oil equivalent (BOE), compared with $29.78 per BOE in q3 of 2016​.ConocoPhillips - ‍expect over $16 billion of dispositions during 2017​.ConocoPhillips - ‍production from Libya was 24 MBOED for quarter​.  Full Article

ConocoPhillips sets quarterly dividend of $0.265/share
Friday, 6 Oct 2017 12:10pm EDT 

Oct 6 (Reuters) - ConocoPhillips ::Sets quarterly dividend of $0.265 per share.  Full Article

ConocoPhillips says Q3, FY 2017 production guidance unchanged
Tuesday, 12 Sep 2017 02:15pm EDT 

Sept 12 (Reuters) - ConocoPhillips ::ConocoPhillips resumes pre-storm production rates in Eagle Ford; third-quarter and full-year production guidance remains unchanged.Full-year production guidance remains unchanged​.Company's full-year production on same basis is expected to be 1,340 to 1,370 MBOED​.Production from Eagle Ford field returned to pre-hurricane harvey rates of around 130 thousand MBOED​.  Full Article

Cenovus to sell Pelican Lake assets for about $1 bln
Tuesday, 5 Sep 2017 06:00am EDT 

Sept 5 (Reuters) - Cenovus Energy Inc ::Cenovus reaches agreement to sell Pelican Lake assets for approximately $1 billion.Cenovus- proceeds from sale to be applied against $3.6 billion asset-sale bridge facility to fund asset acquisition from Conocophillips earlier this year.Cenovus Energy Inc - company intends to retire first tranche of Bridge facility.Cenovus Energy - ‍to sell Pelican Lake heavy oil operations, other miscellaneous assets in northern Alberta for gross cash proceeds of $975 million​.  Full Article

Soros Fund Management dissolves share stake in Tesla, Pfizer, ConocoPhillips
Monday, 14 Aug 2017 06:15pm EDT 

Aug 14 (Reuters) - Soros Fund Management::Soros Fund Management dissolves share stake in Tesla Inc - SEC filing.Soros Fund Management dissolves share stake in Pfizer Inc.Soros Fund Management dissolves share stake in ConocoPhillips.Soros Fund Management: Change in holdings are as of June 30, 2017 and compared with the previous quarter ended as of March 31, 2017.  Full Article

ConocoPhillips sees 'strong' U.S. shale output in Q4
Thursday, 27 Jul 2017 01:06pm EDT 

July 27 (Reuters) - ConocoPhillips ::Says shale development will be biggest contributor to production growth in next few years.Says no slowdown in pace of improvements to shale oil production efficiency.Says costs across its global portfolio, on average, are falling.Says has seen a 'stable' sand cost this year.Says does not believe will see a 'significant degradation of operating cash flow' at $50/barrel oil price.Says about half of 2018 capex will be 'fairly flexible' and able to be cut if oil prices fall.ConocoPhillips says if Alaska changes tax structure, would re-evaluate spending plans in state.Says expects 'pretty strong production' from U.S. shale operations in Q4.  Full Article

ConocoPhillips sets quarterly dividend of $0.265 per share
Wednesday, 12 Jul 2017 12:30pm EDT 

July 12 (Reuters) - ConocoPhillips ::Sets quarterly dividend of $0.265 per share.ConocoPhillips announces quarterly dividend.  Full Article


BP seeks stake in Cairn Energy Senegal assets: sources

SYDNEY/LONDON Oil exploration company Cairn Energy is in talks with BP to sell a 30 percent stake in its deepwater SNE field offshore Senegal, which could be valued at around $600 million, banking sources and a Senegal oil ministry source said.