ConocoPhillips Co.
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About
ConocoPhillips is the world’s largest independent E&P company based on production and proved reserves. Headquartered in Houston, ConocoPhillips had operations and activities in 16 countries, $70 billion of total assets, and approximately 10,800 employees as of Dec. 31, 2018. Production excluding Libya averaged 1.242 million barrels of oil equivalent per day in 2018, and proved reserves were 5.3 billion barrels of oil equivalent as of Dec. 31, 2018.
Transactions
Hess Completes Libya Asset Sale to TotalEnergies, ConocoPhillips
Hess Completes Libya Asset Sale to TotalEnergies, ConocoPhillips
Diversified Energy Acquires ConocoPhillips Midcon Assets for $240 Million
Diversified Energy Acquires ConocoPhillips Midcon Assets for $240 Million
ConocoPhillips Acquires Stake in Texas LNG Project from Sempra
ConocoPhillips Acquires Stake in Texas LNG Project from Sempra
ConocoPhillips Offloads Indonesia Assets in Asia-Pacific Revamp
ConocoPhillips Offloads Indonesia Assets in Asia-Pacific Revamp
ConocoPhillips Offloads Indonesia Assets in Asia-Pacific Revamp
ConocoPhillips Offloads Indonesia Assets in Asia-Pacific Revamp
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New Financings
Commenced a cash tender offer for the company and its wholly-owned subsidiary, Concho Resources Inc., to…
Commenced a private offer to exchange four series of notes issued by ConocoPhillips (COP), ConocoPhillips…
ConocoPhillip's Board of Directors approved a $10 billion increase in the existing share repurchase…
ConocoPhillips announced an increase in its quarterly dividend of 38%, to 42 cents per share. This…
ConocoPhillips (NYSE: COP) on July 12 announced a 50% increase in its planned 2018 share repurchase…
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News
ConocoPhillips: Permian Basin a ‘Growth Engine’ for Lower 48
ConocoPhillips views the Permian Basin as a “growth engine” within its Lower 48 portfolio, the company’s Midland Basin Vice President Nick McKenna said during Hart Energy’s SUPER DUG event in Fort Worth.
ConocoPhillips Looks to Scale Portfolio, But Citgo Auction Not a Factor
ConocoPhillips has a long-term ambition to boost its LNG offtake capacity to between 10 mtpa to 15 mtpa as it keeps a short-term eye on the auction of Citgo Petroleum.
E&P Highlights: May 13, 2024
Here’s a roundup of the latest E&P headlines, with a couple fields coming online, as well as new contract awards.
Permian M&A: Oxy Shops Delaware Assets, Family Oil Cos. Stand Out
As operators scour the Permian Basin for M&A opportunities, they’re keeping an eye on a tepid divestiture market. Family-owned oil companies also stand out among the pack of private inventory holders remaining in the Permian, according to Enverus Intelligence Research.
Decoding the Delaware: How E&Ps Are Unlocking the Future
The basin is deeper, gassier, more geologically complex and more remote than the Midland Basin to the east. But the Delaware is too sweet of a prize to pass up for many of the nation’s top oil and gas producers.
Message in a Bottle: Tracing Production from Zone to Wellhead
New tracers by RESMAN Energy Technology enable measurement while a well is still producing.
Barnett & Beyond: Marathon, Oxy, Peers Testing Deeper Permian Zones
Marathon Oil, Occidental, Continental Resources and others are reaching under the Permian’s popular benches for new drilling locations. Analysts think there are areas of the basin where the Permian’s deeper zones can compete for capital.
Is Double Eagle IV the Most Coveted PE-backed Permian E&P Left?
Double Eagle IV is quietly adding leases and drilling new oil wells in core parts of the Midland Basin. After a historic run of corporate consolidation, is it the most attractive private equity-backed E&P still standing in the Permian Basin?
Biden Administration Criticized for Limits to Arctic Oil, Gas Drilling
The Bureau of Land Management is limiting new oil and gas leasing in the Arctic and also shut down a road proposal for industrial mining purposes.
Deepwater Roundup 2024: Offshore Australasia, Surrounding Areas
Projects in Australia and Asia are progressing in part two of Hart Energy's 2024 Deepwater Roundup. Deepwater projects in Vietnam and Australia look to yield high reserves, while a project offshore Malaysia looks to will be developed by an solar panel powered FPSO.
Mexico Pacific FID Imminent for Saguaro LNG Trains 1 and 2
Mexico Pacific Ltd. is close to taking an initial final investment decision for the first two trains at its Saguaro Energía LNG facility in Sonora, Mexico, which will source feed gas from the Permian Basin.
Proactive, not Reactive: Taking Measures to Keep Oil Stable
Events threatening instability are commonplace in the energy sector. Panelists at CERAWeek by S&P Global discussed the strategies their companies are taking to tackle uncertainty.
Geothermal ‘Could Save the World,’ but Faces Familiar Subsurface Risks
CERAWeek panelists discussed hurdles to widespread use of Earth’s heat to generate power — problems familiar to oil and gas operators.
ConocoPhillips CEO Ryan Lance: Upstream M&A Wave ‘Not Done’ Yet
Dealmaking in the upstream oil and gas industry totaled $234 billion in 2023. The trend shows no signs of slowing, ConocoPhillips CEO Ryan Lance said at the CERAWeek by S&P Global conference.
EIA: E&P Dealmaking Activity Soars to $234 Billion in ‘23
Oil and gas E&Ps spent a collective $234 billion on corporate M&A and asset acquisitions in 2023, the most in more than a decade, the U.S. Energy Information Administration reported.