ConocoPhillips Stock Price, News & Analysis

Sempra (NYSE: SRE) and ConocoPhillips (NYSE: COP) have signed a 20-year Sale and Purchase Agreement for 5 Mtpa of liquefied natural gas from the Port Arthur LNG project in Texas. ConocoPhillips will also acquire 30% equity in Phase 1 and manage feedgas supply requirements. This partnership aims to enhance energy security and support global energy supply needs. Sempra expects to make a final investment decision by Q1 2023 following recent contracts with Bechtel Energy for construction. Phase 1 is designed to produce approximately 13.5 Mtpa of LNG.

ConocoPhillips reported Q3 2022 earnings of $4.5 billion ($3.55/share), up from $2.4 billion ($1.78/share) in Q3 2021. Adjusted earnings for the quarter were $4.6 billion ($3.60/share). The company distributed $4.3 billion to shareholders, including an 11% dividend increase to $0.51/share and $2.8 billion in share buybacks. Q3 production was 1,754 MBOED, a 210 MBOED increase year-over-year. Cash flow from operations was $7.2 billion. The company also expanded its LNG portfolio and set a new 2030 methane intensity target. Overall, ConocoPhillips aims to maintain strong returns while addressing energy needs and emission reductions.

ConocoPhillips (NYSE: COP) will announce its third-quarter 2022 financial results on Nov. 3, 2022, before market opening, followed by a conference call at 12:00 p.m. Eastern time. Investors can access the webcast on the company’s Investor Relations site. ConocoPhillips, a leading exploration and production company, had total assets of $94 billion and produced an average of 1,720 thousand barrels of oil equivalent per day during the first half of 2022.

ConocoPhillips (NYSE: COP) has elected Dennis V. Arriola to its board of directors. With over 28 years in the energy sector, Arriola's previous roles include CEO of Avangrid and executive VP at Sempra Energy. His expertise in renewables aligns with ConocoPhillips' commitment to achieving net-zero emissions and energy transition. His appointment increases the board to 14 members, 12 of whom are independent. Arriola will serve on the Human Resources and Compensation Committee and the Audit and Finance Committee.

ConocoPhillips (NYSE: COP) reported impressive second-quarter 2022 earnings of $5.1 billion ($3.96 per share), up from $2.1 billion ($1.55 per share) in Q2 2021. Adjusted earnings were also significantly higher, at $5.1 billion versus $1.7 billion. The company announced a $5 billion increase in its return of capital plan, totaling $15 billion for 2022, alongside a quarterly dividend of 46 cents per share and a VROC payment of $1.40 per share. Production reached 1,692 MBOED, benefiting from higher realized prices averaging $88.57 per BOE, a 77% rise YoY.

ConocoPhillips (COP), Devon Energy (DVN), and Pioneer Natural Resources (PXD) have joined the Oil and Gas Methane Partnership (OGMP) 2.0 Initiative, aimed at enhancing transparency in methane emissions reporting. This commitment signifies their dedication to reducing methane emissions while meeting energy demands sustainably. The OGMP 2.0 serves as a global standard for reporting, helping companies show progress in methane management. Executives from each company emphasized the importance of collaboration and advanced technology in achieving net-zero emissions targets by 2050.

ConocoPhillips (COP) is expanding its liquefied natural gas (LNG) business by investing in a new LNG facility developed by Sempra Infrastructure in Jefferson County, Texas. Under a Heads of Agreement, ConocoPhillips will acquire a 30% equity stake in Port Arthur Liquefaction Holdings and an LNG offtake of 5 million tonnes per annum. The project is fully permitted and aims for a production capacity of 13.5 million tonnes per annum. This partnership aligns with ConocoPhillips' strategic initiatives to enhance energy security and support a lower-carbon future.

ConocoPhillips (NYSE: COP) will host a conference call on August 4, 2022, at 12:00 p.m. ET to discuss its second-quarter 2022 financial results, which will be released before the market opens. Interested parties can access the webcast via the company's Investor Relations site and should register at least 15 minutes prior. As of March 31, 2022, ConocoPhillips reported $93 billion in total assets and an average production of 1,747 thousand barrels of oil equivalent per day.

ConocoPhillips (COP) reported first-quarter 2022 earnings of $5.8 billion ($4.39/share), up significantly from $1.0 billion ($0.75/share) in the same quarter last year. Adjusted earnings also rose to $4.3 billion ($3.27/share). The company increased its expected returns of capital for 2022 to $10 billion, including a $2 billion boost. Dividends were declared at 46 cents per share, payable June 1, 2022, alongside a 70 cents per share VROC payment for July 15, 2022. Production averaged 1,747 MBOED, with cash from operations at $7.0 billion.