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ConocoPhillips (NYSE: COP) is a leading global energy company focused on responsible hydrocarbon exploration and production. This news hub provides investors and industry observers with timely updates on corporate developments, operational milestones, and strategic initiatives shaping the company's position in the evolving energy landscape.
Access authoritative coverage of COP's quarterly earnings reports, asset acquisitions, sustainability progress, and operational updates from key regions including Alaska, the Permian Basin, and international markets. Our curated news collection enables stakeholders to track production trends, capital allocation decisions, and responses to energy market dynamics.
Key focus areas include COP's advancements in low-emission technologies, partnerships in major energy projects, and responses to global energy demand shifts. All content is verified through primary sources including SEC filings and official company communications to ensure accuracy.
Bookmark this page for centralized access to material developments affecting ConocoPhillips' market position. Check regularly for updates on operational efficiency improvements, resource base expansions, and environmental stewardship initiatives in the upstream energy sector.
ConocoPhillips (NYSE: COP) announced that Executive Vice President and CFO Bill Bullock will retire after 39 years of service, effective June 1, 2025. Andy O'Brien, currently Senior Vice President of Strategy, Commercial, Sustainability and Technology, will succeed Bullock as CFO while retaining his existing responsibilities for Strategy, Commercial and Sustainability.
Bullock, who began his career with Conoco in 1986, has held various leadership roles across the company's global portfolio before joining the executive team in 2018 and becoming CFO in 2020. Chairman and CEO Ryan Lance praised Bullock's outstanding leadership and significant contributions throughout his distinguished career.
ConocoPhillips (NYSE: COP) has announced its upcoming first-quarter 2025 earnings conference call, scheduled for Thursday, May 8, 2025, at 12:00 p.m. Eastern time. The company will release its financial and operating results before the market opens on the same day.
As of December 31, 2024, ConocoPhillips, a leading global exploration and production company, reported key metrics including:
- Total assets of $123 billion
- Workforce of approximately 11,800 employees
- Production averaging 1,987 MBOED for 2024
- Proved reserves of 7.8 BBOE
- Operations across 14 countries
ConocoPhillips (NYSE: COP) has announced an agreement to sell its interests in the Ursa and Europa Fields and Ursa Oil Pipeline Company to Shell subsidiaries for $735 million, subject to customary closing adjustments. The transaction includes ConocoPhillips' 15.96% interest in the Ursa Field, 1% interest in the Europa Field, and an overriding royalty interest in the Ursa Field.
The assets being sold currently produce approximately 8 thousand barrels of oil equivalent per day (MBOED). The deal is expected to close by the end of Q2 2025, with an effective date of January 1, 2025. The proceeds will be used for general corporate purposes, contributing to ConocoPhillips' progress toward its $2 billion disposition target.
ConocoPhillips (NYSE: COP) has received exemptive relief from Canadian securities regulatory authorities regarding future filing requirements. This development follows the company's acquisition of Marathon Oil in November 2024, which had made ConocoPhillips subject to Canadian continuous disclosure obligations.
The granted Decision exempts ConocoPhillips from requirements under Canada's National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities. Instead, the company will provide oil and gas activity disclosures following U.S. Securities and Exchange Commission (SEC) requirements. These disclosures must be filed on www.sedarplus.ca after SEC filing.
As of December 31, 2024, ConocoPhillips operated in 14 countries with $123 billion in total assets and approximately 11,800 employees.
ConocoPhillips (NYSE: COP) reported fourth-quarter 2024 earnings of $2.3 billion ($1.90 per share), down from $3.0 billion ($2.52 per share) in Q4 2023. Full-year 2024 earnings were $9.2 billion ($7.81 per share), compared to $11.0 billion in 2023.
Key highlights include the completion of Marathon Oil acquisition, a preliminary reserve replacement ratio of 244%, and a planned 2025 return of capital target of $10 billion. The company declared a Q1 2025 dividend of $0.78 per share and provided 2025 guidance with capital expenditure of approximately $12.9 billion.
Fourth-quarter 2024 production reached 2,183 MBOED, up 281 MBOED year-over-year. The company's total average realized price was $52.37 per BOE, 10% lower than Q4 2023. Full-year 2024 production averaged 1,987 MBOED, with preliminary year-end proved reserves at 7.8 BBOE.
ConocoPhillips (NYSE: COP) has announced its upcoming fourth-quarter 2024 earnings conference call, scheduled for Thursday, February 6, 2025, at 12:00 p.m. Eastern time. The company will release its financial and operating results before market opening on the same day, including the accounting close for the recently acquired Marathon Oil as of December 1, 2024.
The company's current operational highlights include operations in 13 countries, total assets of $97 billion, and approximately 10,300 employees as of September 30, 2024. Production averaged 1,921 MBOED for the nine months ended September 30, 2024, with proved reserves of 6.8 BBOE as of December 31, 2023.
ConocoPhillips (NYSE: COP) announced pricing terms for cash tender offers through its subsidiary ConocoPhillips Company. The offers include purchasing any and all of Marathon Oil 's debt securities and Maximum Offer Notes up to approximately $4.04 billion, subject to priority levels and proration.
The Total Tender Offer Consideration was determined based on fixed spreads over U.S. Treasury Security yields. For the Any and All Notes, the company expects to accept approximately $2.67 billion in principal amount. For Maximum Offer Notes, CPCo expects to accept notes with Acceptance Priority Levels 1-7, totaling about $1.08 billion, while notes with priority levels 8-13 will not be accepted.
The settlement date for validly tendered notes is expected to be December 12, 2024.
ConocoPhillips (NYSE: COP) announced the early participation results of its exchange offers and consent solicitations for Marathon Oil 's outstanding notes. The exchange offers, worth up to $4 billion in aggregate principal amount, allow eligible holders to exchange Marathon notes for new notes issued by ConocoPhillips Company and guaranteed by COP.
As of December 9, 2024 (Early Tender Date), significant amounts across six series of existing Marathon notes were tendered, including $225.3M of 4.400% Notes due 2027 and $259.0M of 6.600% Notes due 2037. Marathon received sufficient consents to adopt the proposed amendments for all six series. Withdrawal rights expired at the Early Tender Date, and the exchange offers will expire on December 24, 2024.
ConocoPhillips (NYSE: COP) announced the early results of its cash tender offers and increased the Maximum Offer Reference Amount to accept all Notes with Acceptance Priority Levels 1-7. As of December 9, 2024, approximately $2.67 billion of Any and All Notes and $2.28 billion of Maximum Offer Notes were validly tendered.
The company received sufficient consents to adopt proposed amendments for all six series of Any and All Notes. Due to high subscription, COP expects to accept all validly tendered notes from Priority Levels 1-7, but none from Levels 8-13. The Early Settlement Date is expected to be December 12, 2024.
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