ConocoPhillips - COP STOCK NEWS

ConocoPhillips has finalized its acquisition of Shell Enterprises LLC's Delaware basin assets for $9.5 billion. Post-adjustments, the cash cost is approximately $8.6 billion, effective from July 1, 2021. This deal includes around 225,000 net acres and is expected to produce about 200 MBOED in 2022. CEO Ryan Lance highlighted the acquisition's strategic benefits including enhanced cash flow, improved returns, and reduced greenhouse gas intensity, positioning the company for a stronger 2022.

ConocoPhillips (COP) reported a robust third-quarter profit of $2.4 billion, or $1.78 per share, reversing a loss of $0.5 billion in Q3 2020. The adjusted earnings also reflected strong performance with an increase driven by higher realized prices, reaching $56.92 per BOE, up 84% year-over-year. Cash from operations was $4.1 billion, yielding free cash flow of $2.8 billion. The company anticipates closing the $9.5 billion acquisition of Shell’s Permian assets in Q4 and raised its dividend by 7% to 46 cents per share. Notably, ConocoPhillips improved its greenhouse gas emissions targets for 2030.

ConocoPhillips (NYSE: COP) will host a conference call webcast on Tuesday, Nov. 2, 2021, at 12:00 p.m. Eastern time to discuss its third-quarter 2021 financial and operating results, which will be released before market opening on that day. To access the webcast, visit ConocoPhillips’ Investor Relations website and register at least 15 minutes prior to the call. The webcast will also be archived for later access. As of June 30, 2021, ConocoPhillips operated in 15 countries with total assets valued at $85 billion.

ConocoPhillips (NYSE: COP) has announced a strategic acquisition of Shell Enterprises LLC's Delaware basin assets for $9.5 billion. This acquisition includes ~225,000 net acres and an estimated production of 200 MBOED for 2022. Additionally, the company raised its quarterly dividend by 7%, now 46 cents per share. ConocoPhillips aims to enhance its GHG emissions intensity reduction target to 40-50% by 2030. This transaction is anticipated to improve cash flows, with projected operations generating $2.6 billion in cash and $1.9 billion in free cash flow for 2022.

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.

ConocoPhillips reported a strong second-quarter 2021 with earnings of $2.1 billion ($1.55 per share), up from $0.3 billion in Q2 2020. Adjusted earnings rose to $1.7 billion ($1.27 per share), reversing a loss from last year. Production increased to 1,547 MBOED, with cash from operations at $4.0 billion, leading to a free cash flow of approximately $2.8 billion. The company plans to repurchase an additional $1 billion in shares, totaling $6 billion for the year. A market update provided a robust ten-year plan for growth amid a commitment to reducing emissions and enhancing shareholder returns.

ConocoPhillips (NYSE: COP) announced a quarterly dividend of 43 cents per share, payable on Sept. 1, 2021, to stockholders of record by the close of business on July 26, 2021. The company operates in 15 countries, holding $84 billion in total assets and employing approximately 10,300 staff. As of March 31, 2021, production excluding Libya averaged 1,488 MBOED and proved reserves were 4.5 BBOE as of December 31, 2020.

ConocoPhillips (COP) is set to host a conference call on August 3, 2021, at 12:00 p.m. ET to discuss its second-quarter 2021 financial and operating results. Results will be released before the market opens on the same day. The conference call will be accessible via the company’s Investor Relations site. ConocoPhillips operates in 15 countries, with total assets of $84 billion and approximately 10,300 employees as of March 31, 2021.

ConocoPhillips (NYSE: COP) is hosting a market update to reaffirm its disciplined, returns-focused strategy initiated in 2016. Key highlights include increasing the anticipated annual synergies from the Concho acquisition to $1 billion, alongside reductions in capital expenditures and operating costs by $200 million and $100 million, respectively. The company plans to increase share repurchases by $1 billion, totaling approximately $6 billion in distributions for 2021. Over a 10-year plan, it's projected to generate $145 billion in cash from operations and return over $65 billion to shareholders, while targeting net-zero emissions by 2050.