ConocoPhillips Stock Price, News & Analysis

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.

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.

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.

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.

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.

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.

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.

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.