Edition:
United Kingdom

ConocoPhillips (COP.N)

COP.N on New York Stock Exchange

75.56USD
7:15pm BST
Change (% chg)

$0.52 (+0.69%)
Prev Close
$75.04
Open
$75.00
Day's High
$75.86
Day's Low
$74.65
Volume
443,783
Avg. Vol
1,606,165
52-wk High
$75.86
52-wk Low
$47.09

Latest Key Developments (Source: Significant Developments)

Conocophillips Signs $2 Bln Settlement Agreement With PDVSA On ICC Arbitration Award
Monday, 20 Aug 2018 

Aug 20 (Reuters) - ConocoPhillips ::CONOCOPHILLIPS SIGNS $2 BILLION SETTLEMENT AGREEMENT WITH PDVSA ON ICC ARBITRATION AWARD.CONOCOPHILLIPS - PDVSA AGREED TO RECOGNIZE ICC JUDGMENT AND MAKE INITIAL PAYMENTS TOTALING APPROXIMATELY $500 MILLION WITHIN A PERIOD OF 90 DAYS FROM TIME OF SIGNING.CONOCOPHILLIPS - BALANCE OF SETTLEMENT IS TO BE PAID QUARTERLY OVER A PERIOD OF 4.5 YEARS.CONOCOPHILLIPS - AGREED TO SUSPEND LEGAL ENFORCEMENT ACTIONS OF ICC AWARD, INCLUDING IN DUTCH CARIBBEAN.CONOCOPHILLIPS - FURTHER DETAILS OF AGREEMENT ARE CONFIDENTIAL.  Full Article

ConocoPhillips confirms talks with Venezuela on arbitration award
Thursday, 26 Jul 2018 

July 26 (Reuters) - ConocoPhillips ::2018 CASH FLOW GENERATION POTENTIAL IS OVER $12 BILLION ON $65 CRUDE -CFO DON WALLETTE.CONOCO UPS 2018 SPENDING ON DRILLING WITH PARTNERS BY 10%, REFLECTING HIGHER CRUDE PRICES, COST INFLATION.CONOCO EXPECTS WIDE MIDLAND-CUSHING CRUDE PRICE DIFFERENTIALS TO LAST THROUGH 2019 - EXEC.OILFIELD COST INFLATION LOWER THAN ANTICIPATED EVEN WITH STRONG CRUDE PRICING -CONOCO CFO.CONOCO RUNNING TWO DRILLING RIGS IN PERMIAN, DOWN FROM FOUR; MOVED ONE TO EAGLE FORD, LAID DOWN A SECOND.CONOCO EXEC CONFIRMS HOLDING DISCUSSIONS WITH VENEZUELA OVER $2 BILLION ARBITRATION AWARD.STEEL TARIFFS ARE BECOMING "FAIRLY SIGNIFICANT" COST AND WILL IMPACT CAPITAL SPENDING IN 2019 -CONOCO EXEC.  Full Article

Conocophillips Posts Q2 Revenue $9.24 Billion Vs $8.88 Billion Last Year
Thursday, 26 Jul 2018 

July 26 (Reuters) - ConocoPhillips ::QTRLY TOTAL REVENUE AND OTHER INCOME $9,240 MILLION VERSUS $8,882 MILLION REPORTED LAST YEAR.Q2 REVENUE VIEW $9.93 BILLION -- THOMSON REUTERS I/B/E/S.  Full Article

Transocean Announces 13-Well Contract For Transocean 712
Monday, 16 Jul 2018 

July 16 (Reuters) - Transocean Ltd ::TRANSOCEAN LTD. ANNOUNCES 13-WELL CONTRACT FOR TRANSOCEAN 712.TRANSOCEAN LTD - ESTIMATED FIRM CONTRACT BACKLOG IS APPROXIMATELY $75 MILLION.TRANSOCEAN - MIDWATER SEMISUBMERSIBLE TRANSOCEAN 712 WAS AWARDED A 13-WELL CONTRACT COMMENCING IN MARCH 2019 IN U.K. NORTH SEA WITH CONOCOPHILLIPS.TRANSOCEAN LTD - ADDITIONALLY, CONTRACT INCLUDES A ONE-WELL OPTION.  Full Article

ConocoPhillips Expands 2018 Share Repurchase Program From $2 Bln To $3 Bln
Thursday, 12 Jul 2018 

July 12 (Reuters) - ConocoPhillips ::CONOCOPHILLIPS EXPANDS 2018 SHARE REPURCHASE PROGRAM FROM $2 BILLION TO $3 BILLION; INCREASES PREVIOUSLY ANNOUNCED REPURCHASE AUTHORIZATION BY $9 BILLION TO A TOTAL OF $15 BILLION; ACHIEVES DEBT TARGET OF $15 BILLION SIGNIFICANTLY AHEAD OF PLAN.CONOCOPHILLIPS - COMPANY EXPECTS TO FULLY FUND THIS YEAR'S $3 BILLION PROGRAM, AS WELL AS ITS DIVIDEND AND CAPITAL EXPENDITURES, WITH CASH FROM OPERATIONS.CONOCOPHILLIPS - PAID DOWN $2.1 BILLION OF BALANCE SHEET DEBT DURING Q2.CONOCOPHILLIPS - CONOCOPHILLIPS BOARD HAS AUTHORIZED AN ADDITIONAL $9 BILLION FOR SHARE REPURCHASES.  Full Article

ConocoPhillips Sets Quarterly Dividend Of $0.285/Share
Wednesday, 11 Jul 2018 

July 11 (Reuters) - ConocoPhillips ::ANNOUNCES QUARTERLY DIVIDEND.SETS QUARTERLY DIVIDEND OF $0.285PER SHARE.SETS QUARTERLY DIVIDEND OF $0.285PER SHARE.  Full Article

ConocoPhillips Says Will Be 'Aggressive and Persistent' To Recover PDVSA Award
Thursday, 26 Apr 2018 

April 26 (Reuters) - ConocoPhillips ::CHIEF FINANCIAL OFFICE DON WALLETTE SAYS INTENDS TO BE 'AGGRESSIVE AND PERSISTENT' TO RECOVER $2 BILLION FROM PDVSA <<>> AFTER ICC ARBITRATION AWARD.CFO SAYS BELIEVES WILL 'TAKE TIME TO RECOVER THE VALUE THAT WE LOST' IN VENEZUELA AFTER ASSETS WERE NATIONALIZED BY GOVERNMENT.SAYS DID NOT RECEIVE A DIVIDEND FROM AUSTRALIA PACIFIC LNG IN FIRST QUARTER.SAYS RECEIVED $105 MILLION DIVIDEND FROM AUSTRALIA PACIFIC LNG IN SECOND QUARTER.SAYS SEEING INFLATIONARY COST PRESSURE FROM OILFIELD SERVICE PROVIDERS, ESPECIALLY IN LOWER 48 OPERATIONS.SAYS WORKING TO OFFSET UPWARD PRESSURES ON SPENDING, TOO EARLY TO TELL HOW WILL AFFECT 2018 CAPEX BUDGET.CFO: 'WE THINK OUR STOCK IS UNDERVALUED AND HAS A LOT OF UPSIDE TO IT'.CFO EXPECTS ARBITRATION RULING FROM ICSID LATER THIS YEAR ON NATIONALIZATION OF ASSETS IN VENEZUELA LIKELY WILL 'REPRESENT FULL COMPENSATION FOR THE VALUE LOST'.SAYS DOESN'T HAVE ANY SIGNIFICANT EXPORT CAPACITY OUT OF PERMIAN BASIN.SAYS FULLY EXPOSED TO MIDLAND/CUSHING DIFFERENTIAL.SAYS TALKING WITH MIDSTREAM COMPANIES NOW ABOUT SECURING SPACE ON FUTURE PIPELINES OUT OF PERMIAN.  Full Article

ConocoPhillips Announces Cash Tender Offer For Up To $400 Mln Of Debt Securities
Wednesday, 14 Mar 2018 

March 14 (Reuters) - ConocoPhillips ::CONOCOPHILLIPS ANNOUNCES CASH TENDER OFFER FOR UP TO $400 MILLION OF DEBT SECURITIES.CONOCOPHILLIPS - TENDER OFFER WILL EXPIRE ONE MINUTE AFTER 11:59 P.M., NEW YORK CITY TIME, ON APRIL 10, 2018.  Full Article

ConocoPhillips Expects To Recognize A Non-Cash Tax Benefit In Q4 Related To U.S. Tax Cuts And Jobs Act​
Monday, 8 Jan 2018 

Jan 8 (Reuters) - Conocophillips ::CONOCOPHILLIPS - EXPECTS TO RECOGNIZE A NON-CASH TAX BENEFIT IN Q4 OF 2017 RELATED TO U.S. TAX CUTS AND JOBS ACT​.CONOCOPHILLIPS - ‍DOES NOT EXPECT TO INCUR TAX COST RELATED TO 1-TIME REPATRIATION OF ACCUMULATED FOREIGN EARNINGS RELATED TO TAX CUTS AND JOBS ACT​.CONOCOPHILLIPS SAYS ON PRELIMINARY ASSESSMENT, ESTIMATES TAX CUTS & JOBS ACT TO POSITIVELY IMPACT CO'S FUTURE AFTER-TAX EARNINGS IN U.S.​ - SEC FILING.  Full Article

ConocoPhillips plan to double free cash flow in next three years
Wednesday, 8 Nov 2017 

Nov 8 (Reuters) - ConocoPhillips :Says will invest $1.2 billion in shale operations annually for rest of decade.Chief Executive Ryan Lance says returns 'ultimate measure of value creation in our business'.Says 'increased shareholder distributions will compete for capital allocation'.Says production should not drop significantly unless oil prices CLc1 fall below $40/barrel for long period.Says its Alaska operations undergoing a 'renaissance'.Says its shale operations have average cost of supply below $35/barrel.Says expects to generate $1 billion in net cash flow from shale operations by 2020.Says will pump 245,000 barrels/day from Eagle Ford shale by 2020, an 89 percent increase from 2017 levels.Says will pump 80,000 barrels/day from Delaware portion of Permian shale by 2020, more than fourfold increase from 2017 levels.Says will keep Bakken shale production steady near 70,000 barrels/ day for rest of decade to generate cash flow.Says plan to double free cash flow in next three years.  Full Article

China's CNOOC starts new oil production at Penglai field

* China's CNOOC Ltd started producing crude oil at 1/3/8/9 block of the Penglai 19-3 oilfield off north China's Bohai Bay, the company said in a statement on Tuesday