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ConocoPhillips - COP STOCK NEWS

Welcome to our dedicated page for ConocoPhillips news (Ticker: COP), a resource for investors and traders seeking the latest updates and insights on ConocoPhillips stock.

ConocoPhillips (symbol: COP) is a prominent American multinational corporation engaged in hydrocarbon exploration and production, headquartered in the Energy Corridor district of Houston, Texas. As a leading independent exploration and production firm in the U.S., ConocoPhillips is dedicated to discovering and developing oil and natural gas resources globally.

In 2023, ConocoPhillips achieved a significant milestone by producing an average of 1.2 million barrels per day of oil and natural gas liquids, along with 3.1 billion cubic feet per day of natural gas. The company's operations span several key regions, including Alaska, the Lower 48 states in the U.S., Norway in Europe, and multiple countries in the Asia-Pacific and Middle East.

The company's proven reserves at the end of 2023 were an impressive 6.8 billion barrels of oil equivalent, showcasing its robust portfolio and long-term potential. This extensive reserve base underscores ConocoPhillips' capacity to meet global energy demands while maintaining a strong financial footing.

ConocoPhillips is continually involved in new projects and strategic partnerships aimed at enhancing its production capabilities and expanding its reach. The company's commitment to sustainable practices and technological innovation positions it as a key player in the energy sector. Recent achievements include advancements in digital oilfield technology, which optimize exploration and production processes, thereby improving efficiency and reducing environmental impact.

Investors and stakeholders can keep abreast of the latest developments and performance metrics of ConocoPhillips through regular updates and news releases. The company's proactive approach to communication ensures transparency and provides valuable insights into its operations and strategic direction.

For more detailed and up-to-date information about ConocoPhillips, including its financial performance and ongoing projects, visit the official website or track news updates on platforms like StockTitan.

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ConocoPhillips (NYSE: COP) has successfully completed the sale of its subsidiary, which owns a 54% stake in the Indonesia Corridor Block PSC and a 35% interest in Transasia Pipeline Company, to MedcoEnergi for $1.355 billion. The effective date is January 1, 2021, with estimated net cash from the sale around $0.8 billion. The sold assets produced 51 MBOED in 2021 and had proved reserves of approximately 70 million BOE. This divestment aligns with ConocoPhillips' strategy to focus investments on low-cost production opportunities.

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ConocoPhillips (NYSE: COP) has initiated two private offers to exchange notes, totaling a maximum issuance of new senior notes of $3 billion. The Pool 1 Offer aims to exchange existing notes for up to $2 billion in New 2062 Notes, while the Pool 2 Offer targets $1 billion in New 2042 Notes. The exchange is structured to enhance the company's capital structure, with participation incentives including cash payments and fixed spreads over U.S. Treasury benchmarks. The offers are set to expire on March 21, 2022, and are contingent upon certain conditions, including total gross proceeds from a concurrent public offering.

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ConocoPhillips (NYSE: COP) announces a private exchange offer for various series of notes totaling up to $3 billion. The Pool 1 Offer targets $2 billion in New 2062 Notes, while the Pool 2 Offer focuses on $1 billion in New 2042 Notes. The acceptance will be prioritized based on specified criteria outlined in accompanying offering documents. Eligible holders can participate through a structured timeline, with significant conditions including minimum issuance levels and compliance with U.S. and international securities regulations.

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ConocoPhillips (COP) and its subsidiary Concho Resources Inc. have initiated a cash tender offer to buy back outstanding notes totaling $1.8 billion. The offer prioritizes specific series of notes, including 3.750% Senior Notes due 2027 and 4.300% Senior Notes due 2028. The Tender Offer is subject to conditions outlined in an Offer to Purchase dated February 22, 2022, and will expire on March 21, 2022. An early tender deadline is set for March 7, 2022, offering an early premium of $30 per $1,000 in principal.

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ConocoPhillips has acquired an additional 10% shareholding in Australia Pacific LNG (APLNG) from Origin Energy for $1.645 billion, resulting in a total ownership interest of 47.5%. This acquisition, funded from the company's cash reserves, is expected to lead to approximately $1.8 billion in distributions from APLNG in 2022, of which about $0.5 billion is anticipated in Q1. The investment strengthens ConocoPhillips' position in the Asia Pacific market and underscores the role of LNG in the global energy transition.

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ConocoPhillips (NYSE: COP) reported Q4 2021 earnings of $2.6 billion, equating to $1.98 per share, a significant recovery from a loss of $0.8 billion in Q4 2020. Full-year earnings reached $8.1 billion, compared to a loss of $2.7 billion in 2020. The company announced a $1 billion increase in expected 2022 return of capital to shareholders, totaling $8 billion, alongside a quarterly dividend of 46 cents per share and a variable return of cash payment of 30 cents per share. Production for 2021 averaged 1,527 MBOED, with a total cash flow from operations of $17 billion.

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Chesapeake Energy Corporation (NASDAQ: CHK) has appointed Josh Viets as the new Executive Vice President and Chief Operating Officer, effective February 1, 2022. Viets brings 20 years of experience from ConocoPhillips (NYSE: COP), where he held various operational leadership roles. Chesapeake's CEO, Nick Dell'Osso, expressed confidence in Viets' operational leadership and technical skills, which are expected to enhance Chesapeake's focus on its robust asset portfolio. Viets emphasized the company's commitment to affordable, reliable, and lower-carbon energy solutions.

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ConocoPhillips (NYSE: COP) will host a conference call on February 3, 2022, at 12:00 p.m. Eastern time to discuss its fourth-quarter 2021 financial results, which will be released before the market opens on the same day. The event will be available for replay later. As of September 30, 2021, ConocoPhillips operated in 14 countries with total assets valued at $87 billion and approximately 1,514 MBOED production, excluding Libya.

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ConocoPhillips (NYSE: COP) has announced two significant transactions aimed at enhancing its Asia-Pacific segment. The company will sell its subsidiary, holding a 54% stake in Indonesia's Corridor Block PSC and a 35% interest in Transasia Pipeline, to MedcoEnergi for $1.355 billion, expected to close in early 2022. Additionally, ConocoPhillips will acquire up to 10% more in Australia Pacific LNG from Origin Energy for $1.645 billion, increasing its stake to 47.5%. These moves are designed to strengthen its portfolio and enhance production efficiency.

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ConocoPhillips (COP) announced key updates following its $8.6 billion acquisition of Shell's Permian Basin properties on December 1. For 2022, the company plans to allocate approximately $7.2 billion in capital expenditures, with 60% directed to the Lower 48. Expected production is ~1.8 MMBOED, showing low single-digit growth from 2021. A significant return of capital program is initiated, targeting ~$7 billion, which includes a 16% increase in shareholder returns. The three-tier framework will provide dividends, share repurchases, and a variable return of cash (VROC), starting with a $0.20 per share payout on January 14, 2022.

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FAQ

What is the current stock price of ConocoPhillips (COP)?

The current stock price of ConocoPhillips (COP) is $95.12 as of December 20, 2024.

What is the market cap of ConocoPhillips (COP)?

The market cap of ConocoPhillips (COP) is approximately 123.3B.

What is the primary business of ConocoPhillips?

ConocoPhillips is primarily engaged in hydrocarbon exploration and production.

Where is ConocoPhillips headquartered?

ConocoPhillips is headquartered in the Energy Corridor district of Houston, Texas.

What was ConocoPhillips' oil and gas production in 2023?

In 2023, ConocoPhillips produced 1.2 million barrels per day of oil and natural gas liquids and 3.1 billion cubic feet per day of natural gas.

What are ConocoPhillips' proven reserves as of year-end 2023?

As of year-end 2023, ConocoPhillips' proven reserves were 6.8 billion barrels of oil equivalent.

Which regions does ConocoPhillips operate in?

ConocoPhillips operates in the United States (Alaska and Lower 48), Norway, and several countries in the Asia-Pacific and the Middle East.

What recent achievements has ConocoPhillips made?

Recent achievements include advancements in digital oilfield technology, improving efficiency and reducing environmental impact.

How can investors get updates on ConocoPhillips?

Investors can get updates through the company's official website and news platforms like StockTitan.

What is ConocoPhillips' approach to sustainability?

ConocoPhillips is committed to sustainable practices and technological innovation to reduce environmental impact.

What is ConocoPhillips' production capacity?

ConocoPhillips has a significant production capacity with 1.2 million barrels per day of oil and natural gas liquids and 3.1 billion cubic feet per day of natural gas.

Does ConocoPhillips have partnerships in place?

Yes, ConocoPhillips is involved in strategic partnerships to enhance production capabilities and expand its reach.

ConocoPhillips

NYSE:COP

COP Rankings

COP Stock Data

123.32B
1.15B
0.08%
75.21%
2.16%
Oil & Gas E&P
Petroleum Refining
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United States of America
HOUSTON