NYSE:COP

ConocoPhillips announces first-quarter 2024 results, quarterly dividend and VROC

Retrieved on: 
Thursday, May 2, 2024
Energy, Natural Resources, Mining, Minerals, Oil, Gas, Permian, Sale, CFO, Investment, ConocoPhillips, Depreciation, Eagle Ford, Dallas, Public expenditure, VROC

Excluding special items, first-quarter 2024 adjusted earnings were $2.4 billion, or $2.03 per share, compared with first-quarter 2023 adjusted earnings of $2.9 billion, or $2.38 per share.

Key Points: 
  • Excluding special items, first-quarter 2024 adjusted earnings were $2.4 billion, or $2.03 per share, compared with first-quarter 2023 adjusted earnings of $2.9 billion, or $2.38 per share.
  • Distributed $2.2 billion to shareholders through a three-tier framework, including $1.3 billion through share repurchases and $0.9 billion through the ordinary dividend and VROC.
  • ConocoPhillips declared an ordinary dividend of $0.58 per share and a VROC of $0.20 per share, both payable June 3, 2024, to stockholders of record at the close of business on May 13, 2024.
  • Excluding a $0.1 billion change in working capital, ConocoPhillips generated CFO of $5.1 billion and received disposition proceeds of $0.2 billion.

ConocoPhillips to hold first-quarter earnings conference call on Thursday, May 2

Retrieved on: 
Thursday, March 21, 2024
Energy, Natural Resources, Other Natural Resources, Oil, Gas, ConocoPhillips, Webcast

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Key Points: 
  • ConocoPhillips (NYSE: COP) will host a conference call webcast on Thursday, May 2, 2024, at 12:00 p.m. Eastern time to discuss first-quarter 2024 financial and operating results.
  • The company’s financial and operating results will be released before the market opens on May 2.
  • To access the webcast, visit ConocoPhillips’ Investor Relations site, www.conocophillips.com/investor , and click on the "Register" link in the Investor Presentations section.
  • The event will be archived and available for replay later the same day, with a transcript available the following day.

AM Best Affirms Credit Ratings of Sooner Insurance Company

Retrieved on: 
Thursday, March 7, 2024
Insurance, Professional Services, ERM, ALL, Risk management, News, Culture, AM Best, Sooners, ConocoPhillips, History, Credit

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” (Excellent) of Sooner Insurance Company (Sooner) (Colchester, VT).

Key Points: 
  • AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” (Excellent) of Sooner Insurance Company (Sooner) (Colchester, VT).
  • For current Best’s Credit Ratings and independent data on the captive and alternative risk transfer insurance market, please visit www.ambest.com/captive .
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .
  • For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments .

ConocoPhillips announces Dominic Macklon to retire after 33 years with the company

Retrieved on: 
Thursday, February 15, 2024
Energy, Natural Resources, Oil, Gas, Carbon, Engineering, Sustainability, ConocoPhillips, Retirement, Information technology, Conoco, Strategy, Management

ConocoPhillips (NYSE: COP) today announced that Dominic Macklon, executive vice president, Strategy, Sustainability and Technology, has elected to retire effective May 1, 2024, for family medical reasons after 33 dedicated years of service.

Key Points: 
  • ConocoPhillips (NYSE: COP) today announced that Dominic Macklon, executive vice president, Strategy, Sustainability and Technology, has elected to retire effective May 1, 2024, for family medical reasons after 33 dedicated years of service.
  • Dominic began his career with Conoco in 1991 and held numerous engineering, business development, operations and leadership roles of increasing responsibility before becoming a valued member of the company’s executive leadership team in 2018.
  • “I want to thank Dominic for his leadership, dedication and significant contributions during his distinguished 33 years with ConocoPhillips,” said Ryan Lance, chairman and chief executive officer.
  • I wish Dominic the best in retirement as he relocates back to the U.K.”

ConocoPhillips reports fourth-quarter and full-year 2023 results, 123% preliminary reserve replacement ratio; announces 2024 guidance and planned return of capital of $9B; declares quarterly ordinary dividend and variable return of cash distribution

Retrieved on: 
Thursday, February 8, 2024
Oil, Gas, Energy, Permian, FID, CFO, Eagle Ford, Dallas, VROC, Contiguous United States, ConocoPhillips, LNG, GHG, Public expenditure, Annual report, Investment, Depreciation, Acquisition, Form

Full-year 2023 earnings were $11.0 billion, or $9.06 per share, compared with full-year 2022 earnings of $18.7 billion, or $14.57 per share.

Key Points: 
  • Full-year 2023 earnings were $11.0 billion, or $9.06 per share, compared with full-year 2022 earnings of $18.7 billion, or $14.57 per share.
  • “During 2023, ConocoPhillips continued to demonstrate strong financial and operational performance, executing on our returns-focused value proposition,” said Ryan Lance, chairman and chief executive officer.
  • “We achieved record production, reached several key milestones across our global operations and returned $11 billion to shareholders.
  • Distributed $11.0 billion to shareholders through a three-tier framework, including $5.6 billion through the ordinary dividend and variable return of cash (VROC) and $5.4 billion through share repurchases.

ConocoPhillips Makes Final Investment Decision to Develop the Willow Project

Retrieved on: 
Friday, December 22, 2023
Oil, Gas, Energy, Federation, ConocoPhillips, Alaska Natives, Interior, Bureau

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Key Points: 
  • ConocoPhillips (NYSE: COP) announced today that it will move forward with development of the Willow project in Alaska.
  • This Final Investment Decision approves the project and funds construction needed to reach first oil.
  • Designed to support and coexist with subsistence activities on Alaska’s North Slope, the Willow project underwent five years of rigorous regulatory and environmental review.
  • Alaska Native communities and groups, especially those closest to the project on the North Slope, continually provided input that helped shape this project.

ConocoPhillips to Hold Fourth-Quarter Earnings Conference Call on Thursday, Feb. 8

Retrieved on: 
Tuesday, December 19, 2023
Energy, Natural Resources, Mining, Minerals, Oil, Gas, ConocoPhillips, Webcast

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Key Points: 
  • ConocoPhillips (NYSE: COP) will host a conference call webcast on Thursday, Feb. 8, 2024, at 12:00 p.m. Eastern time to discuss fourth-quarter 2023 financial and operating results as well as 2024 guidance items.
  • The company’s financial and operating results will be released before the market opens on Feb. 8.
  • To access the webcast, visit ConocoPhillips’ Investor Relations site, http://www.conocophillips.com/investor , and click on the "Register" link in the Investor Presentations section.
  • The event will be archived and available for replay later the same day, with a transcript available the following day.

ConocoPhillips Reports Third-Quarter 2023 Results; Announces 14% Increase in Quarterly Ordinary Dividend

Retrieved on: 
Thursday, November 2, 2023
Energy, Other Energy, Oil, Gas, Permian, Sale, BOE, NYSE, Steam, Public expenditure, Gate, CPF2, Eagle Ford, Dallas, Acquisition, VROC, Eagle Ford Group, LNG, Depreciation, CFO, Investment, ConocoPhillips, Cryptocurrency, Holding company, Mobile phone, Airline, Bank, Surmont

And today we announced a 14% increase in our quarterly ordinary dividend, consistent with our long-term objective to deliver top quartile growth relative to the S&P 500."

Key Points: 
  • And today we announced a 14% increase in our quarterly ordinary dividend, consistent with our long-term objective to deliver top quartile growth relative to the S&P 500."
  • Increased the quarterly ordinary dividend by 14% to $0.58 per share.
  • ConocoPhillips announced a quarterly ordinary dividend of $0.58 per share, payable Dec. 1, 2023, to stockholders of record at the close of business on Nov. 14, 2023.
  • Beginning in the first quarter of 2024, ConocoPhillips plans to pay its quarterly ordinary dividend and VROC concurrently and will announce such payments in the same quarter they will be paid.

ConocoPhillips Completes Purchase of Remaining 50% Interest in Surmont

Retrieved on: 
Wednesday, October 4, 2023
Energy, Natural Resources, Mining, Minerals, Oil, Gas, ConocoPhillips, WCS, CAD, GHG, NYSE, TotalEnergies, Surmont

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Key Points: 
  • ConocoPhillips (NYSE: COP) today announced that it has completed the purchase of the remaining 50% interest in Surmont from TotalEnergies EP Canada Ltd. for approximately $2.7 billion cash (CAD$3.7 billion) after closing adjustments, as well as future contingent payments of up to approximately $0.3 billion (CAD$0.4 billion).
  • ConocoPhillips now owns 100% of Surmont and will continue as operator.
  • ConocoPhillips remains on track to achieve its previously announced accelerated GHG intensity reduction target of 50-60% by 2030, using a 2016 baseline.
  • ConocoPhillips is also a member of the Pathways Alliance, working on a goal of net-zero emissions from oilsands operations.

ConocoPhillips to Hold Third-Quarter Earnings Conference Call on Thursday, Nov. 2

Retrieved on: 
Thursday, September 21, 2023
Oil, Gas, Energy, ConocoPhillips, Webcast, NYSE, Rare-earth element, Life insurance, Cryptocurrency

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Key Points: 
  • ConocoPhillips (NYSE: COP) will host a conference call webcast on Thursday, Nov. 2, 2023, at 12:00 p.m. Eastern time to discuss third-quarter 2023 financial and operating results.
  • The company’s financial and operating results will be released before the market opens on Nov. 2.
  • To access the webcast, visit ConocoPhillips’ Investor Relations site, http://www.conocophillips.com/investor , and click on the "Register" link in the Investor Presentations section.
  • The event will be archived and available for replay later the same day, with a transcript available the following day.