ConocoPhillips Company

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 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 $0.45 per share. Special items for the current quarter included an unrealized gain on [...]

ConocoPhillips today provided information regarding preliminary first-quarter 2021 operational and financial updates as well as certain full-year 2021 guidance items. The information discussed herein reflects the combined company following the close of the Concho transaction in January. Final first-quarter results will be reported on May 4. First-Quarter Production The company expects to report first-quarter 2021 [...]

ConocoPhillips today announced that it resumed its share repurchase program at an annualized level of $1.5 billion, a 50% increase compared to the level of repurchases underway in the fourth quarter of 2020 when the program was suspended due to the Concho transaction. The company expects to execute the program ratably across all four quarters in 2021. Based on the company's current outlook for 2021 commodity prices, this [...]

ConocoPhillips today announced the retirement of Matt Fox as executive vice president and chief operating officer after a successful 35-year career with the company. The retirement is effective on May 1, 2021. Fox began his career with Conoco as a reservoir engineer and held numerous positions of increasing responsibility until becoming a member of the executive leadership team at the time of ConocoPhillips' spinoff of [...]

ConocoPhillips today reported a fourth-quarter 2020 loss of $0.8 billion, or per share, compared with fourth-quarter 2019 earnings of $0.7 billion, or $0.65 per share. Excluding special items, fourth-quarter 2020 adjusted earnings were a loss of $0.2 billion, or per share, compared with fourth-quarter 2019 adjusted earnings of $0.8 billion, or $0.76 per share. Special items for the current quarter were primarily due to [...]

ConocoPhillips today announced that it has completed its acquisition of Concho Resources following approval by shareholders of both companies. “We appreciate the strong support for this transaction from the shareholders of both companies, which we view as further affirmation of the significant benefits it will deliver,” said Ryan Lance, ConocoPhillips chairman and chief executive officer. “This acquisition results in the [...]

ConocoPhillips today announced the extension of the expiration date of the offers to eligible holders to exchange any and all outstanding notes issued by Concho Resources Inc. as set forth in the table below for up to $3,900,000,000 aggregate principal amount of new notes to be issued by ConocoPhillips and fully and unconditionally guaranteed by ConocoPhillips Company and cash, and related consent solicitations by Concho [...]

ConocoPhillips today announced a new oil discovery in production license 891 on the Slagugle prospect located 14 miles north-northeast of the Heidrun Field in the Norwegian Sea. ConocoPhillips Skandinavia AS is operator of the license with 80 percent working interest. Pandion Energy AS is license partner with 20 percent working interest. Preliminary estimates place the size of the discovery between 75 million and 200 [...]

ConocoPhillips today announced that, in connection with the previously announced offers to eligible holders to exchange any and all outstanding notes issued by Concho Resources Inc. as set forth in the table below for up to $3,900,000,000 aggregate principal amount of new notes issued by ConocoPhillips and fully and unconditionally guaranteed by ConocoPhillips Company and cash, and related consent solicitations by Concho [...]

ConocoPhillips will host a conference call webcast on Tuesday, Feb. 2, 2021, at 12:00 p.m. Eastern time to discuss fourth-quarter 2020 financial and operating results. The company’s financial and operating results will be released before the market opens on Feb. 2. To access the webcast, visit ConocoPhillips’ Investor Relations site, www.conocophillips.com/investor, and click on the "Register" link in the Investor [...]