ConocoPhillips

ConocoPhillips today announced its 2019 capital expenditure budget and operating plan. The operating plan reflects the company’s ongoing commitment to free cash flow generation, differentiated payout to shareholders and superior financial returns through business cycles. The 2019 operating plan is expected to continue driving underlying improvement in return on capital …

ConocoPhillips today announced the retirement of Al Hirshberg as executive vice president, Production, Drilling and Projects after more than 35 years of industry service, including eight years with ConocoPhillips. In conjunction with Hirshberg’s retirement, the company also announced the realignment of executive leadership responsibilities, as follows: Matt Fox, currently executive …

ConocoPhillips announced today that it has entered into a settlement agreement with Petróleos de Venezuela, S.A., the Venezuelan state-owned oil company, to recover approximately $2 billion, the full amount awarded to ConocoPhillips by an arbitral tribunal constituted under the rules of the International Chamber of Commerce, plus interest through the …

ConocoPhillips announced today that it is owed $2.04 billion from Petróleos de Venezuela, S.A. (PDVSA) and two of its subsidiaries as a result of the decision of an international arbitration tribunal constituted under the rules of the International Chamber of Commerce (ICC). The ruling arises out of ConocoPhillips’ contracts with …

ConocoPhillips (NYSE: COP) today reported a second-quarter 2017 loss of $3.4 billion, or ($2.78) per share, compared with a second-quarter 2016 loss of $1.1 billion, or ($0.86) per share. Excluding special items, second-quarter 2017 adjusted earnings were $0.2 billion, or $0.14 per share, compared with a second-quarter 2016 adjusted loss …

ConocoPhillips (NYSE: COP) will hold an Analyst and Investor Meeting today to outline the company’s strategy and discuss several planned actions for accelerating the company’s value proposition of a strong balance sheet, growing dividend and disciplined growth. These actions include an initial $3 billion share repurchase program and the initiation …

ConocoPhillips today reported a first-quarter 2016 net loss of $1.5 billion, or ($1.18) per share, compared with first-quarter 2015 earnings of $272 million, or $0.22 per share. Excluding special items, first-quarter 2016 adjusted earnings were a net loss of $1.2 billion, or ($0.95) per share, compared with a first-quarter 2015 …

ConocoPhillips today announced the retirement of Jeff Sheets as executive vice president, Finance and chief financial officer after more than 35 years with ConocoPhillips. In conjunction with Sheets’ retirement, the company also announced several executive leadership changes to realign responsibilities. The executive leadership changes are summarized below: Don Wallette, Jr., …

ConocoPhillips (NYSE: COP) today announced it is taking actions to maintain its strong balance sheet in response to both the weak outlook for commodity prices and expected credit tightening across the industry. The actions will position the company to accelerate shareholder value creation as prices recover. Dividend and Operating Plan …

U.S. oil and natural gas producer ConocoPhillips sold its stake in a joint venture with Russian state oil company Rosneft, exiting the country after more than 25 years, the Financial Times reported. The exit from Russia comes about five years after ConocoPhillips sold its biggest sole asset in Russia, a stake …