Conocophillips

ConocoPhillips joined other exploration and production (E&P) companies in reporting rising earnings, thanks to geopolitical impacts to oil and gas prices, but management said it should move on “full value chain” opportunities in liquefied natural gas (LNG) to further enhance its gas business. The Houston-based independent, the world’s largest, has substantial global holdings in gas.…

Slower-than-usual rig count growth, fewer uncompleted wells and a shrinking coal generation fleet are contributing to an atypical natural gas market recovery, according to analysts with ConocoPhillips. At the LDC Gas Forum Southeast in Savannah, GA, on Monday, ConocoPhillips’ Matt Henderson, a senior market analyst, said the industry had entered “a bit of a new…

It will take more than $100/bbl oil and an energy crisis in Europe for Lower 48 exploration and production (E&P) firms to substantially raise production, according to executives from three leading onshore producers who spoke at the CERAweek event in Houston. Pioneer Natural Resources Co. CEO Scott Sheffield told the CERAWeek by S&P Global conference…

In the wake of a ban on Russian oil and natural gas to the United States, Tuesday talks at CERAWeek in Houston notably shifted to energy security and geopolitics, but ConocoPhillips CEO Ryan Lance had a few choice words for anyone who believes this is a perfect time to keep the U.S. natural gas and…

ConocoPhillips plans to keep the number of rigs steady on Permian Basin acreage recently acquired from Shell plc. “We plan to continue running four rigs on that property, the same activity rate that Shell was running, through the remainder of this year,” Executive Vice President Tim Leach who oversees Lower 48 operations told analysts during…

ConocoPhillips is targeting full-year capital expenditures (capex) of around $7.2 billion in 2022, up from the $5.3 billion forecast for 2021, according to preliminary guidance. The Houston-based exploration and production (E&P) giant said about 60% of the spend “will be directed to the Lower 48 for short-cycle investment across the company’s extensive, high-quality unconventional asset…

The proverbial bar went up for ConocoPhillips during 3Q2021, and CEO Ryan Lance on Tuesday said the largest independent in the United States is on the cusp of another big step in its growth trajectory.  After acquiring Permian Basin pure-play Concho Resources Inc. earlier this year, the Houston independent joined the ranks of the largest…

EIG Global Energy Partners, a private equity firm that specializes in investments in energy infrastructure, agreed on Monday to pay Origin Energy Ltd $1.59 billion for a minority stake in Australia Pacific LNG Pty Limited, a joint venture with ConocoPhillips and Sinopec.   The liquefied natural gas (LNG) project is the largest by liquefaction capacity on…

The decision to plunk down $9.5 billion to purchase Royal Dutch Shell plc’s Permian Basin assets is going to give ConocoPhillips a bountiful and low-cost supply that will be necessary as the world evolves toward a low-carbon future, CEO Ryan Lance said.  The mega deal announced late Monday is for Shell’s West Texas portfolio within…