Conocophillips

Lower 48 Well Improvements Boosting Reserves for ConocoPhillips

ConocoPhillips’ Executive Vice President Alan Hirshberg used last Thursday’s 4Q2017 earnings conference call to highlight gains in the Permian Basin and the Eagle Ford and Bakken shales.

February 5, 2018

ConocoPhillips Reports Strong Growth in Lower 48, Consolidates Alaska Position

Following an exceptional year results-wise, ConocoPhillips CEO Ryan Lance on Thursday announced the Houston super independent is spending $400 million to bolt-on leases in Alaska, even as it continues to emphasize Lower 48 unconventional development.

February 2, 2018
Alaska NPR-A Auction Nets Few Bids; ConocoPhillips Tacks on Acreage

Alaska NPR-A Auction Nets Few Bids; ConocoPhillips Tacks on Acreage

Despite placing a record 900 tracts of the National Petroleum Reserve in Alaska (NPR-A) up for auction Wednesday, oil and natural gas producers stayed away, leaving the Department of Interior’s (DOI) Bureau of Land Management (BLM) left to count a paltry seven bids.

December 7, 2017

ConocoPhillips Focused on Returns, to Spend $5.5B on Capex Annually Through 2020

ConocoPhillips expects to grow oil and natural gas production by 5% and spend $5.5 billion a year on capital expenditures (capex) through 2020, but executives said the company could maintain flat production, including in the U.S. onshore, to leave room for dividends in case oil prices decline.

November 10, 2017

Doing ‘More For Less,’ ConocoPhillips Slashes 2017 Capex 10%

ConocoPhillips 3Q2017 earnings were up for a second consecutive quarter, even as production declined, according to the Houston-based independent, which said Thursday it has cut its 2017 capital expenditures (capex) budget by 10%.

October 26, 2017

ConocoPhillips Quietly Testing Permian, But M&A ‘Not a Priority’

An executive with ConocoPhillips said the company is taking its time to test and understand the geology of the Permian Basin, following the same approach it used to develop its position in the Eagle Ford Shale, but that merger and acquisition (M&A) activity is “not a priority.”

September 7, 2017

ConocoPhillips Mothballing Kenai LNG Until Market Improves

ConocoPhillips, unable to find a buyer for its Kenai natural gas export facility in Alaska, plans to shutter operations until market conditions improve.

July 14, 2017
ConocoPhillips Exiting Gassy Granddaddy Barnett in $305M Deal

ConocoPhillips Exiting Gassy Granddaddy Barnett in $305M Deal

ConocoPhillips on Thursday continued its turn away from natural gas and to more oil-weighted projects after snagging $305 million from an affiliate of Miller Thomson & Partners LLC for its legacy gas-rich Barnett Shale portfolio.

June 29, 2017
ConocoPhillips Bidding Farewell to Gassy San Juan Basin in $3B Deal With Hilcorp

ConocoPhillips Bidding Farewell to Gassy San Juan Basin in $3B Deal With Hilcorp

Houston-based ConocoPhillips, the largest operator in the natural gas-rich San Juan Basin, agreed Thursday to sell the portfolio for up to $3 billion to an affiliate of Hilcorp Energy Co.

April 13, 2017
Cenovus Doubling Canada Output, Adding Gas-Rich Montney in $13.3B Deal With ConocoPhillips

Cenovus Doubling Canada Output, Adding Gas-Rich Montney in $13.3B Deal With ConocoPhillips

Calgary-based Cenovus Energy Inc. is taking full control of some Western Canadian oilsands assets and adding three million net acres to its natural gas-rich Deep Basin portfolio in a transformative $13.3 billion (C$17.7 billion) transaction with ConocoPhillips.

March 30, 2017