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ConocoPhillips (COP.N)

COP.N on New York Stock Exchange

67.78USD
22 Jun 2018
Change (% chg)

$2.67 (+4.10%)
Prev Close
$65.11
Open
$67.47
Day's High
$68.38
Day's Low
$67.25
Volume
3,571,992
Avg. Vol
2,006,783
52-wk High
$71.71
52-wk Low
$42.27

Latest Key Developments (Source: Significant Developments)

ConocoPhillips Says Will Be 'Aggressive and Persistent' To Recover PDVSA Award
Thursday, 26 Apr 2018 

April 26 (Reuters) - ConocoPhillips ::CHIEF FINANCIAL OFFICE DON WALLETTE SAYS INTENDS TO BE 'AGGRESSIVE AND PERSISTENT' TO RECOVER $2 BILLION FROM PDVSA <<>> AFTER ICC ARBITRATION AWARD.CFO SAYS BELIEVES WILL 'TAKE TIME TO RECOVER THE VALUE THAT WE LOST' IN VENEZUELA AFTER ASSETS WERE NATIONALIZED BY GOVERNMENT.SAYS DID NOT RECEIVE A DIVIDEND FROM AUSTRALIA PACIFIC LNG IN FIRST QUARTER.SAYS RECEIVED $105 MILLION DIVIDEND FROM AUSTRALIA PACIFIC LNG IN SECOND QUARTER.SAYS SEEING INFLATIONARY COST PRESSURE FROM OILFIELD SERVICE PROVIDERS, ESPECIALLY IN LOWER 48 OPERATIONS.SAYS WORKING TO OFFSET UPWARD PRESSURES ON SPENDING, TOO EARLY TO TELL HOW WILL AFFECT 2018 CAPEX BUDGET.CFO: 'WE THINK OUR STOCK IS UNDERVALUED AND HAS A LOT OF UPSIDE TO IT'.CFO EXPECTS ARBITRATION RULING FROM ICSID LATER THIS YEAR ON NATIONALIZATION OF ASSETS IN VENEZUELA LIKELY WILL 'REPRESENT FULL COMPENSATION FOR THE VALUE LOST'.SAYS DOESN'T HAVE ANY SIGNIFICANT EXPORT CAPACITY OUT OF PERMIAN BASIN.SAYS FULLY EXPOSED TO MIDLAND/CUSHING DIFFERENTIAL.SAYS TALKING WITH MIDSTREAM COMPANIES NOW ABOUT SECURING SPACE ON FUTURE PIPELINES OUT OF PERMIAN.  Full Article

ConocoPhillips Announces Cash Tender Offer For Up To $400 Mln Of Debt Securities
Wednesday, 14 Mar 2018 

March 14 (Reuters) - ConocoPhillips ::CONOCOPHILLIPS ANNOUNCES CASH TENDER OFFER FOR UP TO $400 MILLION OF DEBT SECURITIES.CONOCOPHILLIPS - TENDER OFFER WILL EXPIRE ONE MINUTE AFTER 11:59 P.M., NEW YORK CITY TIME, ON APRIL 10, 2018.  Full Article

ConocoPhillips Expects To Recognize A Non-Cash Tax Benefit In Q4 Related To U.S. Tax Cuts And Jobs Act​
Tuesday, 9 Jan 2018 

Jan 8 (Reuters) - Conocophillips ::CONOCOPHILLIPS - EXPECTS TO RECOGNIZE A NON-CASH TAX BENEFIT IN Q4 OF 2017 RELATED TO U.S. TAX CUTS AND JOBS ACT​.CONOCOPHILLIPS - ‍DOES NOT EXPECT TO INCUR TAX COST RELATED TO 1-TIME REPATRIATION OF ACCUMULATED FOREIGN EARNINGS RELATED TO TAX CUTS AND JOBS ACT​.CONOCOPHILLIPS SAYS ON PRELIMINARY ASSESSMENT, ESTIMATES TAX CUTS & JOBS ACT TO POSITIVELY IMPACT CO'S FUTURE AFTER-TAX EARNINGS IN U.S.​ - SEC FILING.  Full Article

ConocoPhillips plan to double free cash flow in next three years
Wednesday, 8 Nov 2017 

Nov 8 (Reuters) - ConocoPhillips :Says will invest $1.2 billion in shale operations annually for rest of decade.Chief Executive Ryan Lance says returns 'ultimate measure of value creation in our business'.Says 'increased shareholder distributions will compete for capital allocation'.Says production should not drop significantly unless oil prices CLc1 fall below $40/barrel for long period.Says its Alaska operations undergoing a 'renaissance'.Says its shale operations have average cost of supply below $35/barrel.Says expects to generate $1 billion in net cash flow from shale operations by 2020.Says will pump 245,000 barrels/day from Eagle Ford shale by 2020, an 89 percent increase from 2017 levels.Says will pump 80,000 barrels/day from Delaware portion of Permian shale by 2020, more than fourfold increase from 2017 levels.Says will keep Bakken shale production steady near 70,000 barrels/ day for rest of decade to generate cash flow.Says plan to double free cash flow in next three years.  Full Article

ConocoPhillips targets ‍debt reduction to $15 bln in 2019​
Wednesday, 8 Nov 2017 

Nov 8 (Reuters) - ConocoPhillips : :ConocoPhillips analyst and investor meeting to outline 2018-2020 operating plan; creating value with disciplined, returns-focused strategy.ConocoPhillips - targets ‍debt reduction to $15 billion in 2019​.ConocoPhillips - ‍three-year operating plan averages annual capital expenditures of $5.5 billion​.ConocoPhillips-‍extending $1.5 billion per year of share buybacks for additional year through 2020, resulting in total 2017-2020 share buybacks of $7.5 billion​.ConocoPhillips-Targets extending $1.5 billion/year of share buybacks for additional year through 2020,resulting in total 2017-2020 share buybacks of $7.5 billion​.ConocoPhillips - sees ‍sustaining capital $3.5​ billion in 2018.ConocoPhillips - ‍ set a target to reduce greenhouse gas emissions intensity by 5-to-15 percent by 2030​.ConocoPhillips - sees 2018 ‍exploration capital spend $0.3​ billion.ConocoPhillips-2017-2020 share buybacks of $7.5 billion, debt reduction to $15 billion to represent a 20% decrease in debt-adjusted share count by year-end 2020​.  Full Article

ConocoPhillips says committed to returns-focused strategy regardless of oil price
Thursday, 26 Oct 2017 

Oct 26 (Reuters) - ConocoPhillips :Says committed to returns-focused strategy regardless of commodity price improvement.Says plans to exceed original oil production forecast despite capital budget cut.Says no water-borne oil exports from United States in third quarter.Says 'quite possible' might see quarterly distribution from Australia Pacific LNG joint venture in fourth quarter.Says does plan to start cutting stake in Cenovus Energy Inc <<>> after lock-up period ends in November.Says currently producing more than 30,000 barrels/day of oil in Libya.Says all gas from Australia Pacific LNG that's not sold domestically is under long-term contracts to customers in China and Japan.Says some Australia Pacific LNG customers exercised right to not take up to 10 percent of contracted cargos, making some LNG available for spot sale in 2018.  Full Article

ConocoPhillips says Q3 earnings per share $0.34
Thursday, 26 Oct 2017 

Oct 26 (Reuters) - ConocoPhillips -:ConocoPhillips reports third-quarter 2017 results; lowers capital guidance and delivers on strategic and operational targets; strong momentum going into November analyst and investor meeting.Q3 adjusted earnings per share $0.16 excluding items.Q3 earnings per share $0.34.ConocoPhillips - ‍lowering full-year 2017 expected capital expenditures to $4.5 billion, a 10 percent reduction from initial guidance​.Q3 earnings per share view $0.08 -- Thomson Reuters I/B/E/S.ConocoPhillips - ‍production excluding Libya for Q3 of 2017 was 1,202 thousand barrels of oil equivalent per day (mboed), a decrease of 355 mboed.ConocoPhillips - ‍in Alaska, First Well was spud at 1h news, which remains on track for first oil by year-end​.ConocoPhillips - ‍ maintaining FY production guidance despite impacts from Hurricane Harvey.ConocoPhillips - ‍during quarter, Eagle Ford production was impacted by 15 MBOED from Hurricane Harvey, but was fully restored by quarter end​.ConocoPhillips - ‍expects to reduce debt to less than $20 billion by year-end 2017.ConocoPhillips - ‍ expects full-year share repurchases of $3 billion​.ConocoPhillips - qtrly ‍total realized price was $39.49 per barrel of oil equivalent (BOE), compared with $29.78 per BOE in q3 of 2016​.ConocoPhillips - ‍expect over $16 billion of dispositions during 2017​.ConocoPhillips - ‍production from Libya was 24 MBOED for quarter​.  Full Article

Conocophillips files for a potential mixed shelf, size not disclosed - SEC filing‍​
Friday, 6 Oct 2017 

Oct 6 (Reuters) - Conocophillips : :Conocophillips files for a potential mixed shelf; size not disclosed - SEC filing‍​.  Full Article

ConocoPhillips to sell Foster Creek Christina Lake Partnership interest, Western Canada Deep Basin Gas assets to Cenovus for $13.3 bln
Thursday, 30 Mar 2017 

ConocoPhillips : ConocoPhillips announces sale of Foster Creek Christina Lake partnership interest and Western Canada deep basin gas assets to Cenovus for $13.3 billion; significant transaction accelerates value proposition . ConocoPhillips - cash portion of proceeds will be used to reduce debt to $20 billion in 2017 and double existing share repurchase authorization to $6 billion . ConocoPhillips- also intends to triple its planned 2017 buybacks from $1 billion to $3 billion, with remaining $3 billion allocated to 2018 and 2019 . ConocoPhillips - disposed assets had a net book value of approximately $10.9 billion as of Dec. 31, 2016 . ConocoPhillips - ConocoPhillips Canada will retain its operated 50 percent interest in Surmont Oil Sands joint venture . ConocoPhillips - ConocoPhillips Canada will retain its operated 100 percent Blueberry-Montney unconventional acreage position . ConocoPhillips- full-year estimated 2017 production and operating expenses associated with assets being sold is $0.4 billion . ConocoPhillips- company does not expect any change to 2017 capital expenditures .ConocoPhillips - expects to recognize a financial tax accounting benefit of approximately $1 billion in Q1 of 2017.  Full Article

Conocophillips sets quarterly dividend of $0.25 per share
Friday, 7 Oct 2016 

Conocophillips :Sets quarterly dividend of $0.25 per share.  Full Article

Australia's APLNG plans maintenance for July-Sept - notice

SINGAPORE, June 7 The Australia Pacific liquefied natural gas (APLNG) plant on Curtis Island off the east coast will undergo a partial maintenance over July, August and September, the Australian Energy Market Operator (AEMO) said in a notice on Thursday.