ConocoPhillips today announced a new gas condensate discovery in production license 1009 located 22 miles northwest of the Heidrun Field and 150 miles from the coast of Norway in the Norwegian Sea. ConocoPhillips Skandinavia AS is operator of the license with 65 percent working interest. PGNiG Upstream Norway AS holds 35 percent working interest. The discovery well, 6507/4-1 , was drilled in 1,312 feet of water to a total [...]
ConocoPhillips today announced the introduction of four innovations that will further enhance the functionality of its proprietary Optimized Cascade natural gas liquefaction process or OCP™ technology, which is currently licensed in 27 processing trains worldwide. In response to growth in the global LNG market and changes in industry contracting practices, the company is introducing new operational and control products [...]
ConocoPhillips today reported a third-quarter 2020 loss of $0.5 billion, or per share, compared with third-quarter 2019 earnings of $3.1 billion, or $2.74 per share. Excluding special items, third-quarter 2020 adjusted earnings were a loss of $0.3 billion, or per share, compared with third-quarter 2019 adjusted earnings of $0.9 billion, or $0.82 per share. Special items for the current quarter were primarily due to an [...]
ConocoPhillips and Concho Resources today announced that they have entered into a definitive agreement to combine companies in an all-stock transaction. Under the terms of the transaction, which has been unanimously approved by the board of directors of each company, each share of Concho Resources common stock will be exchanged for a fixed ratio of 1.46 shares of ConocoPhillips common stock, representing a 15 percent [...]
ConocoPhillips today announced an increase in its quarterly dividend from 42 cents per share to 43 cents per share. The dividend is payable on Dec. 1, 2020, to stockholders of record at the close of business on Oct. 19, 2020. --- # # # --- About ConocoPhillips Headquartered in Houston, Texas, ConocoPhillips had operations and activities in 16 countries, $63 billion of total assets, and approximately 9,700 employees at [...]
ConocoPhillips today provided information regarding certain preliminary third-quarter 2020 operational and financial updates. Final third-quarter results will be reported on Oct. 29. The company also announced that it intends to resume share repurchases of $1 billion during the fourth quarter of 2020 under its existing authorization. The repurchases will be funded from available cash on the balance sheet. Management [...]
ConocoPhillips will host a conference call webcast on Thursday, Oct. 29 at 12:00 p.m. Eastern time to discuss third-quarter 2020 financial and operating results. The company’s financial and operating results will be released before the market opens on Oct. 29. To access the webcast, visit ConocoPhillips’ Investor Relations site, www.conocophillips.com/investor, and click on the "Register" link in the Investor [...]
ConocoPhillips today announced that its board of directors has elected Mr. Eric Mullins to serve as a board member. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200908005271/en/ Mr. Eric Mullins Mr. Mullins has spent his career in finance, most recently founding Lime Rock Resources in 2005, a private equity fund focused on acquiring and developing low-risk [...]
ConocoPhillips today announced that it has completed the previously announced transaction to acquire additional Montney acreage in Canada from Kelt Exploration Ltd. Cash consideration for the transaction was approximately $390 million at current foreign exchange rates and is subject to customary post-closing adjustments. The company also assumed approximately $30 million in financing obligations for associated partially [...]
ConocoPhillips today reported second-quarter 2020 earnings of $0.3 billion, or $0.24 per share, compared with second-quarter 2019 earnings of $1.6 billion, or $1.40 per share. Excluding special items, second-quarter 2020 adjusted earnings were a loss of $1.0 billion, or per share, compared with second-quarter 2019 adjusted earnings of $1.1 billion, or $1.01 per share. Special items for the current quarter were primarily [...]
ConocoPhillips today announced it has signed a definitive agreement to acquire additional Montney acreage in Canada from Kelt Exploration Ltd. for cash consideration of approximately $375 million before customary adjustments, plus the assumption of approximately $30 million in financing obligations for associated partially owned infrastructure. This acquisition is 140,000 net acres in the liquids-rich Inga-Fireweed asset [...]
ConocoPhillips announced today a quarterly dividend of 42 cents per share, payable Sept. 1, 2020, to stockholders of record at the close of business on July 20, 2020. --- # # # --- About ConocoPhillips Headquartered in Houston, Texas, ConocoPhillips had operations and activities in 17 countries, $65 billion of total assets, and approximately 10,400 employees as of March 31, 2020. Production excluding Libya averaged 1,278 [...]
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