Operator · Barnett Shale, Cardium Shale & Duvernay Shale
ConocoPhillips
80 articles mentioning ConocoPhillips · Page 2 of 4
ConocoPhillips Touts Gas Condensate Discovery Offshore Norway
ConocoPhillips has announced a new gas condensate discovery in production license 1009 located 22 miles northwest of the Heidrun Field and 150 miles from the coast of Norway in the Norwegian Sea. The discovery well, 6507/4-1...
ConocoPhillips Warns 'Pass Ballot Initiative 1, We Stop Drilling In Alaska'
During its Q3 2020 earnings call, ConocoPhillips, the largest driller in Alaska, said it would stop drilling on the North Slope if voters approve a new tax on production at the polls next week. COO Matthew...
Report: Conoco in Talks to Acquire Concho Resources
ConocoPhillips is said to be in talks to acquire Permian player Concho Resources, according to a report by Bloomberg. Citing people familiar with the matter, a deal could be announced within the coming weeks. However, there...
ConocoPhillips Restores Production; Resume BuyBacks
ConocoPhillips provided some guidance on its 3Q 2020 operational resuts. The company is expecting production to increase to 1060 Mboe/d (mid-point of the guidance) which is up +8% from the prior quarter. As you might remember,...
ConocoPhillips Exec Sees Global Oil Demand Rebounding to 100 MMBO/d; 2021 Outlook
A senior exec from ConocoPhillips predicts that oil demand will recover to 100 million BPD worldwide after grappling with historic lows due to COVID-19 and other factors, according to a report by Reuters. The executive, who...
ConocoPhillips Adds Lime Rock Founder to Board
ConocoPhillips announced that its board of directors has elected Mr. Eric Mullins to serve as a board member. Mr. Mullins will serve on the Public Policy Committee of the ConocoPhillips board. About Mullins: Mr. Mullins has...
ConocoPhillips Seals Deal for Kelt's Montney Assets
ConocoPhillips has completed its $390MM acquisition of additional Montney acreage in Canada from Kelt Exploration Ltd. The purchase price was increased to $390 million from $375 million when the deal was first struck. The company also...
ConocoPhillips 2Q20 Results; Production Down 24%; Reduced Capex; Curtailment
ConocoPhillips reportes its Q2 2020 results. Q2 Highlights: Ended the quarter with cash, cash equivalents and restricted cash totaling $3.2 billion and short-term investments of $4.0 billion, equaling $7.2 billion in ending cash and short-term investments....
Court Orders Dakota Access / Bakken Oil Pipeline to Be Shut Down
A U.S. District Court today ordered the shut down and emptying of Energy Transfer's Dakota Access pipeline within 30 days. Currently, the Dakota Access pipeline (DAPL) transports about 570,000 bbl/d from the Bakken to the Gulf...
Conoco Gives Curtailment Outlook; Plans Production Restart in July, Beyond
ConocoPhillips announced an update on its curtailments. In Q2 2020, the company had 225 MBOEPD net in curtailments (primarily oil) - 65% were in the Lower 48, 15% were in Alaska and 15% were in the...
Santos Wraps Up $1.39B Deal for Conoco's Australia-West Assets
ConocoPhillips has finalized the $1.39B sale of its Australia-West assets and operations to Santos. Production associated with the assets being sold averaged approximately 46 MBOED for the first three months of 2020, and proved reserves were...
ConocoPhillips CFO Retires; Successor Named
ConocoPhillips announced the retirement of Don E. Wallette, Jr. as executive vice president and chief financial officer after a successful 39-year career with the company. Wallette's retirement is effective on Aug. 31, 2020. In conjunction with...
Bakken Operators Shut-In 450,000 Barrels Per Day, Rig Count Hits Lowest
May 7, 2020 The Department of Mineral Resources has established the Bakken Restart Task Force to facilitate rapid recovery of the oil and gas industry and supporting sectors impacted by COVID-related demand shock. The task force...
Oil Shut-In MONITOR : E&P Planning to Shut-In/Curtail 1 Million Barrels In May, 1.1 MMbbls/d in June
As operators continue to adjust their 2020 plans to combat market woes, we are taking a look at all the E&Ps who have announced that they will be curtailing production. Most of the curtailments have been...
ConocoPhillips Reports First Quarter 2020 Results; Curtail Production
ConocoPhillips reported its Q1 2020 results. Conoco reported a first-quarter 2020 loss of $1.7 billion, or ($1.60) per share, compared with first-quarter 2019 earnings of $1.8 billion, or $1.60 per share. Excluding special items, first-quarter 2020...
Conoco Axes Further $1.6B from 2020 Capex; Curtails 200 MBOEPD in Production
ConocoPhillips is taking further actions to respond to the oil market downturn. This is in addition to the changes made on March 18, 2020 (when it cut its budget by 10% (or $700MM). 2020 Capex Cut...
ConocoPhillips Trims $700MM from 2020 Budget; Slows Lower 48 Ops Further
ConocoPhillips has detailed its adjusted 2020 capital plans. The actions the company announced include: 2020 operating plan capital expenditures will be reduced by $0.7 billion to ~$5.9 billion (a 10% decrease compared to its prior guidance...
Conoco Adds Former Anadarko CEO Walker, Fluor Corp. CEO to Board
ConocoPhillips' board has elected Mr. David T. Seaton and Mr. Al Walker to serve as board members. About Seaton Mr. Seaton served as chief executive officer of Fluor Corporation from 2011 to 2019, and as chairman...
Conoco IDs 2020 Capital Plan; Lower 48 Sees $500MM Shortfall from Prior Estimate
ConocoPhillips has reported its Q4 2019 results as well as outlined its 2020 capital plan. 2020 Plans - Lower 48 Out $500 Million The company will be ramping up spending 5% overall compared to 2019, but...
ConocoPhillips Details Q4 2019 Results
ConocoPhillips reported its Q4 2019 results. It also detailed its 2020 capital plan, which can be accessed here. Full-Year 2019 Summary Cash provided by operating activities was $11.1 billion. Excluding working capital, cash from operations (CFO)...