Conocophillips

ConocoPhillips raised expected savings on its 2021 acquisition of Concho Resources Inc. to $1 billion and lifted its planned share buybacks by the same amount, a show of confidence in the deal and the company’s outlook as it emerges from the pandemic. The upbeat tone emerged during a market update Wednesday, during which executives emphasized…

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…

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…

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…

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…

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…

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.

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.

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.