Conocophillips

ConocoPhillips Bounces Back Along with Oil Demand, February Spike in Natural Gas Prices

ConocoPhillips Bounces Back Along with Oil Demand, February Spike in Natural Gas Prices

ConocoPhillips’ 1Q2021 profit marked its first amid the coronavirus pandemic and reflected both a recovery in global oil demand and a winter surge in domestic natural gas prices. The Houston-based energy giant in the first quarter also closed its $9.7 billion acquisition of Concho Resources Inc., forming a Permian Basin powerhouse that will rival the…

May 4, 2021
ConocoPhillips’ Lower 48 Oil, Natural Gas Prices and Production Strengthen in First Quarter

ConocoPhillips’ Lower 48 Oil, Natural Gas Prices and Production Strengthen in First Quarter

Houston-based ConocoPhillips said Wednesday its commodity prices climbed, and oil and gas production was more than 29% higher in the first quarter than the final three months of last year as energy demand rose. In an interim update as the first quarter drew to a close, the world’s largest independent said production in 1Q2021 averaged…

March 31, 2021
ConocoPhillips Touts Second ‘Significant’ Discovery Offshore Norway in As Many Months

ConocoPhillips Touts Second ‘Significant’ Discovery Offshore Norway in As Many Months

ConocoPhillips on Tuesday announced a new oil find offshore Norway that it estimated could generate between 75 million and 200 million recoverable boe. It marked the second “significant” discovery in the region in as many months, the company said, building upon earlier successes near Norway. The latest discovery well was drilled in 1,165 feet of…

December 22, 2020
ConocoPhillips Estimating Nearly 20% Year/Year Decline in Production, $15 Hit to Prices in 3Q2020

ConocoPhillips Estimating Nearly 20% Year/Year Decline in Production, $15 Hit to Prices in 3Q2020

ConocoPhillips expects to see its third quarter 2020 production suffer another double-digit blow and realized prices take a roughly $15 hit as the Houston-based independent curtailed volumes to combat the weak oil environment. In an operations update issued Wednesday, ConocoPhillips said it expects to report a roughly 262,000 boe/d year/year decline (19.7%) in third quarter…

September 30, 2020
Strong Balance Sheet Key to ConocoPhillips Managing ‘Really Dark Days’ of Oil Downturn

Strong Balance Sheet Key to ConocoPhillips Managing ‘Really Dark Days’ of Oil Downturn

ConocoPhillips’ strategic pivot in 2016 to a value model rather than a growth model provided the Houston-based independent the financial capability to “make rational economic decisions” during the oil market downturn, including curtailing around 400,000 b/d of production. ConocoPhillips Executive Vice President and Chief Operating Officer Matt Fox said the company’s strong balance sheet, which…

September 29, 2020

4Q2019 Earnings: Lower 48 ‘Big 3’ Unconventionals Deliver for ConocoPhillips

ConocoPhillips, the world’s largest independent, continued last year to drive up volumes from the Lower 48, its largest production segment, as the “Big 3” unconventional assets led the way with healthy increases.

February 4, 2020

4Q2019 Earnings: Lower 48 ‘Big 3’ Unconventionals Deliver for ConocoPhillips

ConocoPhillips, the world’s largest independent, continued last year to drive up volumes from the Lower 48, its largest production segment, as the “Big 3” unconventional assets led the way with healthy increases.

February 4, 2020

4Q2019 Earnings: Lower 48 ‘Big 3’ Unconventionals Deliver for ConocoPhillips

ConocoPhillips, the world’s largest independent, continued last year to drive up volumes from the Lower 48, its largest production segment, as the “Big 3” unconventional assets led the way with healthy increases.

February 4, 2020

W&T Snaps Up Stakes in Deepwater Magnolia Field from ConocoPhillips

Houston-based W&T Offshore Inc. has become the operator and majority owner of the Magnolia field in the deepwater Gulf of Mexico (GOM) in a $20 million acquisition from ConocoPhillips.

December 24, 2019

‘Big 3’ Unconventionals Again Drive ConocoPhillips Production Gains

Assets across the Lower 48 continued to drive production growth for ConocoPhillips in the third quarter, with output from the global producer’s “Big 3” unconventionals leading the way.

October 30, 2019
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