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 (NYSE: COP) is a global exploration and production company that reports on its oil, gas and LNG activities through regular news releases and investor communications. The company describes its portfolio as deep, durable and diverse, and it uses its news flow to provide updates on financial and operating results, capital allocation decisions and developments across its global asset base.
On this news page, readers can follow ConocoPhillips announcements about quarterly earnings and operating results, often accompanied by details on production levels, capital expenditures, dividends and share repurchases. The company issues press releases in connection with its Form 8-K filings to summarize results for specific quarters and to outline guidance items and outlook information.
ConocoPhillips also uses news releases to highlight its LNG portfolio strategy and long-term sales and purchase agreements. Recent announcements include long-term LNG offtake arrangements from U.S. Gulf Coast projects such as Port Arthur LNG and Rio Grande LNG, as well as references to the use of its OCP CryoSep ae technology in LNG facilities. These items illustrate how the company is building a flexible LNG supply network to serve global markets.
Additional news topics include board and governance updates, such as the election of new directors and committee assignments, and regulatory matters like the companys application to cease to be a reporting issuer in Canada while continuing U.S. disclosure. Investors, analysts and other stakeholders can use this page to monitor ConocoPhillips communications about its operations, portfolio developments and strategic priorities over time.
ConocoPhillips (NYSE: COP) will host a conference call on August 4, 2022, at 12:00 p.m. ET to discuss its second-quarter 2022 financial results, which will be released before the market opens. Interested parties can access the webcast via the company's Investor Relations site and should register at least 15 minutes prior. As of March 31, 2022, ConocoPhillips reported $93 billion in total assets and an average production of 1,747 thousand barrels of oil equivalent per day.
ConocoPhillips (COP) reported first-quarter 2022 earnings of $5.8 billion ($4.39/share), up significantly from $1.0 billion ($0.75/share) in the same quarter last year. Adjusted earnings also rose to $4.3 billion ($3.27/share). The company increased its expected returns of capital for 2022 to $10 billion, including a $2 billion boost. Dividends were declared at 46 cents per share, payable June 1, 2022, alongside a 70 cents per share VROC payment for July 15, 2022. Production averaged 1,747 MBOED, with cash from operations at $7.0 billion.
ConocoPhillips (NYSE: COP) has announced a management change effective May 1, 2022. Tim Leach transitions from executive vice president, Lower 48, to advisor to the CEO while remaining on the board of directors. Jack Harper, former president of Permian, is appointed as the new executive vice president, Lower 48. Leach, praised for his role in the Concho acquisition, stated he looks forward to collaborating with Harper to create more value for the company. Harper brings over 25 years of experience in various sectors, aligning with ConocoPhillips’ goals for energy transition and competitive returns.
ConocoPhillips (NYSE: COP) will host a conference call on May 5, 2022, at 12:00 p.m. Eastern time to discuss its first-quarter 2022 financial and operating results. Results will be released before the market opens on the same day. Investors can access the webcast by visiting ConocoPhillips’ Investor Relations site. The company reported $91 billion in total assets and an average production of 1,567 thousand barrels of oil equivalent per day for the year ending Dec. 31, 2021.
ConocoPhillips (NYSE: COP) announced the expiration of its Exchange Offers for two pools of notes. The Pool 1 Offer included exchanges for cash and new 4.025% notes due 2062, while the Pool 2 Offer involved cash and new 3.758% notes due 2042. The offers expired on March 21, 2022, with the final settlement expected on March 23, 2022. Holders of validly tendered notes will receive exchange consideration, which includes accrued interest. Approximately $2.541 million of new 2062 notes and $1.091 million of new 2042 notes will be issued based on the tendered amounts.
ConocoPhillips (COP) has announced the pricing terms for its private Exchange Offers, which include the Pool 1 and Pool 2 Offers for a total of nine series of notes from COP, Burlington, and CPCo. The Exchange Offers are set to expire on March 21, 2022, and will allow the exchange of old notes for cash and new senior notes due in 2042 and 2062. Key details include total consideration and cash payments for each series, with yields for the new notes being 4.025% and 3.758%, respectively. Eligibility is limited to qualified institutional buyers and certain professional investors.
ConocoPhillips (COP) announced the pricing details for its tender offer to purchase outstanding debt securities, including senior notes due in 2027, 2028, 2031, 2047, and 2048, amounting to nearly $1.5 billion. The total tender offer consideration incorporates a $30 early tender premium per $1,000 of notes. As of March 8, 2022, the early tender deadline has seen significant interest, potentially leading to no tenders accepted after this date. The offer is set to expire on March 21, 2022, with payments covering accrued interest expected on March 11, 2022.
ConocoPhillips (NYSE: COP) announced early results for its Exchange Offers on two pools of notes, targeting a total of up to
ConocoPhillips (NYSE: COP) announced early results from its debt securities tender offer, originally set at $1.8 billion but increased to approximately
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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