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Hilcorp, Exxon and Conoco top greenhouse gas emitters, environmental groups say
July 16, 2022
Source: Mint

Hilcorp, Exxon and Conoco top greenhouse gas emitters, environmental groups say

Hilcorp Energy Co., Exxon Mobil Corp., ConocoPhillips and Occidental Petroleum Corp., are the U.S. oil-and-gas industry’s top emitters of planet-warming greenhouse gases, according to a new report based on federal data.

ConocoPhillips, Diamondback see natural gas-price gain from Texas freeze
May 6, 2021
Source: world oil

ConocoPhillips, Diamondback see natural gas-price gain from Texas freeze

Conoco's average gas price from its Lower 48 operations more than doubled to $4.56/mcf from the fourth quarter. Diamondback, which operates in the heart of Texas's biggest shale field, saw average gas prices jump more than 21 times to $3.05/mcf from a year earlier. The combined company produced 1.32 Bcfg in the period, more than double Conoco's in the previous quarter, which helped offset the financial impact of lost oil production from the freeze.

Oil rally spurs ConocoPhillips to resume stock buybacks
March 11, 2021
Source: world oil

Oil rally spurs ConocoPhillips to resume stock buybacks

The U.S. company ConocoPhillips is buying back stock at an annualized rate of $1.5 billion to return more cash to investors. That’s an increase of 50% compared with the pace of repurchases in the fourth quarter, the point at which the program was suspended in the wake of Conoco’s acquisition of rival producer Concho Resources Inc. The shares rose 1.5% in pre-market trading in New York.

ConocoPhillips buys Canadian land from Kelt in $375 million deal
July 23, 2020
Source: Reuters

ConocoPhillips buys Canadian land from Kelt in $375 million deal

U.S. oil major ConocoPhillips said on Wednesday that it agreed to buy land from Kelt Exploration Ltd in Canada’s Montney shale oil play, in a $375 million deal. The deal allows ConocoPhillips to extend its existing position at an attractive cost. It comes three years after Houston-based ConocoPhillips sold much of its Canadian assets to Cenovus Energy, part of a multi-year withdrawal of foreign producers from Canada.

ConocoPhillips sells West Australian business to Santos for nearly $1.4B
May 29, 2020
Source: World Oil

ConocoPhillips sells West Australian business to Santos for nearly $1.4B

ConocoPhillips has completed the sale of its west-Australian business to Santos for $1.39 billion, a major boost to the company’s balance sheet during the economic downturn. The Houston oil major, which announced the sale in October, has received about $765 million in proceeds from the sale during the second quarter. The proceeds are expected to be used for “general corporate purposes,” the company said Wednesday.

ConocoPhillips farms out Northern Australian business to Santos
Oct. 14, 2019
Source: Reuters

ConocoPhillips farms out Northern Australian business to Santos

ConocoPhillips has farmed out its northern Australian business to Santos Ltd in a $1.39 billion deal. The acquisition, which will boost Santos’ output by 25%, is second in the line of major acquisitions made by the Australian firm this year. While ConocoPhillips will let go of the Darwin LNG plant and gas fields off northern Australia, it will hold onto its stakes in the Australia Pacific LNG plant in Queensland.

ConocoPhillips farms out UK E&P subsidiaries
Oct. 1, 2019
Source: World Oil

ConocoPhillips farms out UK E&P subsidiaries

ConocoPhillips has concluded the sale of two of its subsidiaries to Chrysaor E&P Limited in a $2.675 billion deal, apart from the interest and customary adjustments. The two ConocoPhillips subsidiaries indirectly owned the firm’s E&P assets in the UK, including roughly $1.8 billion in asset retirement obligations. The US oil major also declared about discontinuing exploration activities in the Central Louisiana Austin Chalk trend.

ConocoPhillips posts lower-than-expected Q2 profits
July 31, 2019
Source: Reuters

ConocoPhillips posts lower-than-expected Q2 profits

US oil major, ConocoPhillips registered lower-than-expected profits in the second quarter, stressed by lower crude prices. Adjusted earnings for Conoco dipped to $1.14 billion in the quarter that ended June 30, from $1.29 billion in 2018. IBES data from Refinitiv showed that Conoco’s capital expenditure reached $1.73 billion during the quarter, topping estimates of $1.53 billion.

Wintershall signs an agreement with ConocoPhillips
July 26, 2019
Source: World Oil

Wintershall signs an agreement with ConocoPhillips

Wintershall DEA and ConocoPhillips have signed a Sales and Purchase Agreement. Both the companies will together develop the Aguada Federal and Bandurria Norte blocks in the central Argentine. The term of the agreement includes that Wintershall Dea should continue as operator of the licenses. Also, Conoco will get 45% interest share in the Aguada Federal block as a part of the transaction.

ConocoPhillips inks agreement to acquire acreage in Alaska
June 19, 2019
Source: World Oil

ConocoPhillips inks agreement to acquire acreage in Alaska

US oil major, ConocoPhillips has inked an agreement with Caelus Natural Resources Alaska to buy 100% interest in the Nuna discovery, Alaska. Discovered in 2012, the Nuna prospect is located 5 mi southwest of Oooguruk field. The agreement signed by ConocoPhillips Alaska (COPA) includes the purchase of 11 tracts spanning across 21,000 acres. COPA will appraise the Nuna discovery in the upcoming years.

TechnipFMC secures contract for ConocoPhillips’ Barossa Project
May 10, 2019
Source: OE Digital

TechnipFMC secures contract for ConocoPhillips’ Barossa Project

EPC giant, TechnipFMC has secured a contract from ConocoPhillips for the provision of the subsea production system for the Barossa project, offshore Australia. The scope of the contract includes the engineering, design and fabrication of wellheads, manifolds and control system, apart from the installation and commissioning assistance. ConocoPhillips operates the Barossa Caldita project where Santos and SK E&S are partners.

ConocoPhillips' profit doubles in the first quarter
May 1, 2019
Source: Energy Voice

ConocoPhillips' profit doubles in the first quarter

The energy major, ConocoPhillips has reported an increase in profits with net income surging to more than $1.8 billion. Its revenue increased to more than $10 billion in the first quarter of this fiscal year. Chief Executive Ryan Lance commented, "We continue to execute and deliver on a plan that’s resilient to lower prices while offering investors upside to higher prices.”

ConocoPhillips farms out UK assets
April 24, 2019
Source: World Oil

ConocoPhillips farms out UK assets

US-based oil major, ConocoPhillips has farmed out its UK oil and gas business to Chrysaor Holdings. In a $2.675 billion-deal, Chrysaor will gain ownership to three material assets including two new operated hubs in the UK Central North Sea, an interest in the Clair Field area in the West of Shetland, and Britannia and J‐Block. ConocoPhillips’ owned assets produced approx. 72,000 boepd last year.

Chrysaor acquires ConocoPhillips' UK assets
April 19, 2019
Source: World Oil

Chrysaor acquires ConocoPhillips' UK assets

Chrysaor Holdings Limited will acquire the business of ConocoPhillips in the UK. After this acquisition, Chrysaor will become the largest oil and gas producer in the UK North Sea with approximately 177,000 boepd production in 2018. The assets of ConocoPhillips includes over 280 MMboe proved and probable (2P) oil and gas reserves. CEO of Chrysaor said, "Acquiring ConocoPhillips UK accelerates our strategy and further strengthens our positions".

ConocoPhillips contributes $1 million to back Data Science
April 10, 2019
Source: World Oil

ConocoPhillips contributes $1 million to back Data Science

US oil major, ConocoPhillips yesterday announced a contribution of $1 million to the University of Houston’s College of Natural Sciences and Mathematics (NSM). ConocoPhillips’ aid aims at fulfilling the rising demand for data science education. The contribution will be used to fund new faculty positions in the computer science and mathematics departments in the University, including the fellowships for graduate students with strong data science skills.

Equinor finds oil in Telesto Exploration well
March 5, 2019

Equinor finds oil in Telesto Exploration well

Norwegian oil major, Equinor has announced oil discovery from the Visund A Platform in the Telesto exploration well in the North Sea. The newly discovered reserve is estimated to contain approximately 12-28 million barrels of recoverable oil. Equinor operates the production license 120, where Petoro, ConocoPhillips and Repsol are partners. The Visund A platform will now proceed with drilling development wells on the Visund field.

ConocoPhillips awards a contract to Rowan
Jan. 11, 2019
Source: World Oil

ConocoPhillips awards a contract to Rowan

Rowan Companies plc’s jack-up rig, Rowan Norway has been awarded a contract by ConocoPhillips Skandinavia AS (COPSAS) in Norway. Rowan Norway is an N-Class ultra-harsh environment jack-up rig that will be deployed for an estimated duration of seven months. The contract award is subject to partner approval. According to the initial contract term, COPSAS has two options, an estimated duration of five months and nine months.

US shale growth will be 25% in 2019: Conoco
Dec. 11, 2018
Source: World Oil

US shale growth will be 25% in 2019: Conoco

ConocoPhillips' CEO has stated that the company can see the shale production increasing by 25% next year. The world’s largest independent oil producer has pumped 313,000 bopd in the third quarter, three regions combined. He also said that production growth “slows down at $50 but I don’t think it stops at $50 and it certainly continues if prices get back to $60”.

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