Welcome to our dedicated page for ConocoPhillips news (Ticker: COP), a resource for investors and traders seeking the latest updates and insights on ConocoPhillips stock.
ConocoPhillips (NYSE: COP) is a global exploration and production company that reports on its oil, gas and LNG activities through regular news releases and investor communications. The company describes its portfolio as deep, durable and diverse, and it uses its news flow to provide updates on financial and operating results, capital allocation decisions and developments across its global asset base.
On this news page, readers can follow ConocoPhillips announcements about quarterly earnings and operating results, often accompanied by details on production levels, capital expenditures, dividends and share repurchases. The company issues press releases in connection with its Form 8-K filings to summarize results for specific quarters and to outline guidance items and outlook information.
ConocoPhillips also uses news releases to highlight its LNG portfolio strategy and long-term sales and purchase agreements. Recent announcements include long-term LNG offtake arrangements from U.S. Gulf Coast projects such as Port Arthur LNG and Rio Grande LNG, as well as references to the use of its OCP CryoSep ae technology in LNG facilities. These items illustrate how the company is building a flexible LNG supply network to serve global markets.
Additional news topics include board and governance updates, such as the election of new directors and committee assignments, and regulatory matters like the companys application to cease to be a reporting issuer in Canada while continuing U.S. disclosure. Investors, analysts and other stakeholders can use this page to monitor ConocoPhillips communications about its operations, portfolio developments and strategic priorities over time.
AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of 'a+' (Excellent) for
ConocoPhillips (NYSE: COP) will host a conference call on February 2, 2023, at 12:00 p.m. Eastern time to discuss its fourth-quarter 2022 financial results and 2023 guidance. The financial results will be released before the market opens on the same day. Interested parties can access the webcast via ConocoPhillips’ Investor Relations site. The event will be archived for later replay.
As of September 30, 2022, ConocoPhillips had approximately $95 billion in total assets and an average production of 1,731 thousand barrels of oil equivalent per day.
ConocoPhillips (NYSE: COP) has signed two long-term LNG supply agreements with QatarEnergy to deliver liquefied natural gas to Germany, with first deliveries expected in 2026. The agreements pertain to joint ventures involved in Qatar's North Field expansion projects. ConocoPhillips holds a 3.125% interest in the North Field East (NFE) project and a 6.25% interest in the North Field South (NFS) project. The deals aim to establish reliable LNG supplies to meet Germany's significant gas demand.
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.
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