ConocoPhillips Reports Fourth-Quarter and Full-Year 2021 Results; Increases Planned 2022 Return of Capital to $8 Billion and Declares Quarterly Dividend and Variable Return of Cash Distribution
ConocoPhillips (NYSE: COP) today reported fourth-quarter 2021 earnings of $2.6 billion, or $1.98 per share, compared with a fourth-quarter 2020 loss of $0.8 billion, or ($0.72) per share. Excluding special items, fourth-quarter 2021 adjusted earnings were $3.0 billion, or $2.27 per share, compared with a fourth-quarter 2020 adjusted loss of …
Shearwater GeoServices: Enters into Strategic Technology Collaboration with Major Energy Company
Shearwater GeoServices Holding AS, (“Shearwater”) announces a technology sale and transfer agreement between its US subsidiary Shearwater GeoServices Software Inc. and ConocoPhillips Company (“ConocoPhillips”), involving seismic imaging technology that will be implemented in Shearwater’s Reveal software (“Reveal”). With this partnership, the companies will collaborate closely to allow Shearwater to incorporate ConocoPhillips’ …
ConocoPhillips Announces Preliminary 2022 Capital Expenditures Budget; Initiates Three-Tier Returns of Capital Program and Declares Quarterly Variable Cash Distribution
ConocoPhillips today announced several updates that highlight the company’s differentiated value proposition. This announcement follows the recent closing of the company’s acquisition of Shell’s Permian Basin properties on Dec. 1 for net cash of $8.6 billion. Today’s announcement reflects the addition of Shell’s Permian Basin properties, including the previously announced …
ConocoPhillips Announces Third-Quarter 2021 Financial and Operational Results
ConocoPhillips today reported third-quarter 2021 earnings of $2.4 billion, or $1.78 per share, compared with a third-quarter 2020 loss of $0.5 billion, or ($0.42) per share. Excluding special items, third-quarter 2021 adjusted earnings were $2.4 billion, or $1.77 per share, compared with a third-quarter 2020 adjusted loss of $0.3 billion, …
Shell Signs Agreement to Sell Permian Interest for $9.5 Billion to ConocoPhillips
Shell Enterprises LLC, a subsidiary of Royal Dutch Shell plc, has reached an agreement for the sale of its Permian business to ConocoPhillips, a leading shales developer in the basin, for $9.5 billion in cash. The transaction will transfer all of Shell’s interest in the Permian to ConocoPhillips, subject to …
ConocoPhillips Announces Significant Enhancement to Multi-Year Plan with All-Cash Permian Asset Acquisition; Increases Ordinary Dividend; Improves 2030 Emissions Intensity Reduction Target
ConocoPhillips today announced several actions to further enhance its compelling, distinctive investment proposition. The actions are consistent with the company’s financial framework, its stated capital allocation priorities and its commitment to playing a valued role in the energy transition. Materials describing today’s actions are provided at www.conocophillips.com/investor. The actions include: …
23rd WPC Announces Innovation Zone
Special feature invites innovators to share their transformative ideas that will impact the future of energy The 23rd World Petroleum Congress Organizing Committee has announced the launch of the Innovation Zone, a captivating new feature on the exhibition floor of the Congress, which will take place in-person in Houston from …
ConocoPhillips Delivers Strong Second-Quarter 2021 Financial and Operational Results Following Recent 10-Year Market Update
ConocoPhillips today reported second-quarter 2021 earnings of $2.1 billion, or $1.55 per share, compared with second-quarter 2020 earnings of $0.3 billion, or $0.24 per share. Excluding special items, second-quarter 2021 adjusted earnings were $1.7 billion, or $1.27 per share, compared with a second-quarter 2020 adjusted loss of $1.0 billion, or …
ConocoPhillips Market Update Reaffirms Commitment to Disciplined, Returns-Focused Strategy with Compelling 2022-2031 Plan
ConocoPhillips will host a market update today to reaffirm its commitment to the disciplined, returns-focused strategy it launched in 2016. The company will outline details of a compelling 2022-2031 operating and financial plan that reflects numerous transformational activities undertaken over the past 18 months, most notably the acquisition of Concho. …
ConocoPhillips Reports First-Quarter 2021 Results; Declares Quarterly Dividend; Announces Debt-Reduction Plan and Intention to Begin Sales of Cenovus Shares with Proceeds to Fund Incremental Buybacks; Schedules Midyear Market Update
ConocoPhillips today reported first-quarter 2021 earnings of $1.0 billion, or $0.75 per share, compared with a first-quarter 2020 loss of $1.7 billion, or ($1.60) per share. Excluding special items, first-quarter 2021 adjusted earnings were $0.9 billion, or $0.69 per share, compared with first-quarter 2020 adjusted earnings of $0.5 billion, or …