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ConocoPhillips (COP)

COP on New York Consolidated

8 Dec 2017
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$1.03 (+2.04%)
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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 files for a potential mixed shelf, size not disclosed - SEC filing‍​
Friday, 6 Oct 2017 02:01pm EDT 

Oct 6 (Reuters) - Conocophillips : :Conocophillips files for a potential mixed shelf; size not disclosed - SEC filing‍​.  Full Article

ConocoPhillips to sell Foster Creek Christina Lake Partnership interest, Western Canada Deep Basin Gas assets to Cenovus for $13.3 bln
Wednesday, 29 Mar 2017 04:14pm EDT 

ConocoPhillips : ConocoPhillips announces sale of Foster Creek Christina Lake partnership interest and Western Canada deep basin gas assets to Cenovus for $13.3 billion; significant transaction accelerates value proposition . ConocoPhillips - cash portion of proceeds will be used to reduce debt to $20 billion in 2017 and double existing share repurchase authorization to $6 billion . ConocoPhillips- also intends to triple its planned 2017 buybacks from $1 billion to $3 billion, with remaining $3 billion allocated to 2018 and 2019 . ConocoPhillips - disposed assets had a net book value of approximately $10.9 billion as of Dec. 31, 2016 . ConocoPhillips - ConocoPhillips Canada will retain its operated 50 percent interest in Surmont Oil Sands joint venture . ConocoPhillips - ConocoPhillips Canada will retain its operated 100 percent Blueberry-Montney unconventional acreage position . ConocoPhillips- full-year estimated 2017 production and operating expenses associated with assets being sold is $0.4 billion . ConocoPhillips- company does not expect any change to 2017 capital expenditures .ConocoPhillips - expects to recognize a financial tax accounting benefit of approximately $1 billion in Q1 of 2017.  Full Article

Conocophillips sets quarterly dividend of $0.25 per share
Thursday, 6 Oct 2016 04:35pm EDT 

Conocophillips :Sets quarterly dividend of $0.25 per share.  Full Article

AGDC and ConocoPhillips execute MOU
Thursday, 22 Sep 2016 01:56pm EDT 

Alaska Gasline Development Corporation: AGDC And Conocophillips Execute MOU - position for next steps . Active sales and negotiation activities with global buyers could begin once JV has been formed . State of Alaska and Conocophillips Alaska Inc have executed a memorandum of understanding .MOU for negotiations to form JV co that could facilitate marketing LNG from Alaska LNG project to global LNG markets.  Full Article

ConocoPhillips Q2 2016 earnings conference call
Thursday, 28 Jul 2016 01:05pm EDT 

ConocoPhillips : Chief Executive Ryan Lance says flat production is not a goal, but wants to at least maintain existing output . Says dividend increases, debt reduction, share repurchases among top plans for use of cash .Says doesn't believe dividend represents enough shareholder remuneration.  Full Article

ConocoPhillips reports Q2 loss per share $0.86
Thursday, 28 Jul 2016 07:22am EDT 

ConocoPhillips: Increasing its full-year 2016 production guidance to 1,540 to 1,570 mboed, reflecting strong year-to-date performance . Third-Quarter 2016 production guidance is 1,510 to 1,550 mboed, which reflects significant planned turnaround activity during quarter. . " price environment remains challenging, but our business is running well" . Quarter 2016 results; continued strong operational performance . Q2 loss per share $0.86 . Q2 earnings per share view $-0.61 -- Thomson Reuters I/B/E/S . On track for first cargo from aplng train 2 in australia and first production from alder in europe in q4 of 2016. . Lowering 2016 capital expenditures guidance from $5.7 billion to $5.5 billion. . Exceeded second-quarter guidance with production of 1,546 mboed; increasing full-year guidance. . Production for q2 of 2016 was 1,546 thousand barrels of oil equivalent per day (mboed), a decrease of 49 mboed .Second-Quarter 2016 adjusted loss per share $0.79.  Full Article


ConocoPhillips to receive $337 million in accord with Ecuador

HOUSTON ConocoPhillips will receive $337 million from Ecuador under a settlement of an arbitration case that the U.S. energy company brought over a 2009 confiscation of assets in the South American country.