ConocoPhillips Supports Hurricane Ida Relief Efforts

Rhea-AI Summary

ConocoPhillips (NYSE: COP) has announced disaster relief donations totaling $500,000 to assist recovery efforts in Louisiana following Hurricane Ida. The funds will be split between the American Red Cross and local United Way organizations. Additionally, the company will match employee donations. ConocoPhillips, the largest private wetlands owner in Louisiana, is committed to protecting and restoring the coastal region. As of June 30, 2021, it reported total assets of $85 billion and production averaging 1,518 MBOED.

Positive

• Donation of $500,000 for hurricane relief efforts, enhancing corporate social responsibility image.
• Commitment to match employee contributions, fostering employee engagement and morale.
• Established reputation as the largest private wetlands owner in Louisiana, reinforcing environmental stewardship.

Negative

• None.

HOUSTON--(BUSINESS WIRE)-- ConocoPhillips (NYSE: COP) announced today disaster relief donations of $500,000 to be allocated between the American Red Cross and local United Way organizations to support relief efforts in Louisiana from Hurricane Ida. The company will also match donations from ConocoPhillips’ U.S. employees.

“Our thoughts are with the local communities who are dealing with the widespread devastation brought by Hurricane Ida,” said Ryan Lance, chairman and chief executive officer. “We are committed to assisting as they rebuild and want to extend our gratitude to the emergency responders, volunteers and organizations like the Red Cross and United Way that are stepping in to help those in need.”

ConocoPhillips, through its wholly owned subsidiary The Louisiana Land and Exploration Company LLC, is the largest private wetlands owner in Louisiana and maintains an office in Houma. For decades, the company has practiced responsible stewardship of its coastal wetlands and has collaborated with public and nonprofit entities on projects designed to protect and restore Louisiana’s coast.

About ConocoPhillips

Headquartered in Houston, Texas, ConocoPhillips had operations and activities in 15 countries, $85 billion of total assets, and approximately 10,100 employees as of June 30, 2021. Production excluding Libya averaged 1,518 MBOED for the six months ended June 30, 2021, and proved reserves were 4.5 BBOE as of Dec. 31, 2020. For more information, go to www.conocophillips.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210901006053/en/

Dennis Nuss (media)

281-293-1149

dennis.nuss@conocophillips.com

Source: ConocoPhillips

FAQ

What is ConocoPhillips' recent donation amount for Hurricane Ida relief?

ConocoPhillips donated $500,000 for Hurricane Ida relief efforts.

Which organizations will receive ConocoPhillips' disaster relief funds?

The funds will be distributed between the American Red Cross and local United Way organizations.

Is ConocoPhillips matching employee donations for disaster relief?

Yes, ConocoPhillips will match donations from its U.S. employees.

What is ConocoPhillips' total assets reported in June 2021?

As of June 30, 2021, ConocoPhillips reported total assets of $85 billion.

What is ConocoPhillips' production average for the first half of 2021?

For the six months ended June 30, 2021, ConocoPhillips' production averaged 1,518 MBOED.