ConocoPhillips Co.
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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
ConocoPhillips Completes $22.5B Acquisition of Marathon
ConocoPhillips Completes $22.5B Acquisition of Marathon
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
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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 to Sell Interests in GoM Assets to Shell for $735MM
ConocoPhillips is selling to Shell its interests in the offshore Ursa and Europa fields in the Gulf of Mexico for $735 million.
Dividends Declared Weeks of Feb. 3, Feb. 10
With 2024 year-end earnings season underway, here is a compilation of dividends declared from select upstream, midstream and service and supply companies.
BP’s Eagle Ford Refracs Delivering EUR Uplift, ‘Triple-Digit’ Returns
BP’s shale segment, BPX Energy, is seeing EUR uplifts from Eagle Ford refracs “we didn’t really predict in shale,” CEO Murray Auchincloss told investors in fourth-quarter earnings.
DUCs Fly the Coop: Big Drawdowns from the Midland to Haynesville
The Midland Basin depleted its inventory of excess DUCs the most last year, falling from two months of runway to one during the past year, according to a report by Enverus Intelligence Research.
ConocoPhillips Sells $600MM in Noncore Permian Basin Assets
Following its $22.5 billion deal to buy Marathon Oil, ConocoPhillips is targeting $2 billion in asset sales— a goal a company executive said would largely be achieved this year.
E&Ps Pivot from the Pricey Permian
SM Energy, Ovintiv and Devon Energy were rumored to be hunting for Permian M&A—but they ultimately inked deals in cheaper basins. Experts say it’s a trend to watch as producers shrug off high Permian prices for runway in the Williston, Eagle Ford, the Uinta and the Montney.
Utica Oil’s Infinity IPO Values its Play at $48,000 per Boe/d
Private-equity-backed Infinity Natural Resources’ IPO pricing on Jan. 30 gives a first look into market valuation for Ohio’s new tight-oil Utica play. Public trading is to begin the morning of Jan. 31.
Elk Range Acquires Permian, Eagle Ford Minerals and Royalties
Elk Range Royalties is purchasing the mineral and royalty interests of Newton Financial Corp., Concord Oil Co. and Mission Oil Co.
After Big, Oily M&A Year, Upstream E&Ps, Majors May Chase Gas Deals
Upstream M&A hit a high of $105 billion in 2024 even as deal values declined in the fourth quarter with just $9.6 billion in announced transactions.
Ovintiv Names Terri King as Independent Board Member
Ovintiv Inc. has named former ConocoPhillips Chief Commercial Officer Terri King as a new independent member of its board of directors effective Jan. 31.
M&A Target Double Eagle Ups Midland Oil Output 114% YOY
Double Eagle IV ramped up oil and gas production to more than 120,000 boe/d in November 2024, Texas data shows. The E&P is one of the most attractive private equity-backed M&A targets left in the Permian Basin.
Liberty Energy Appoints Arjun Murti to Board
Arjun Murti has over 30 years of experience as an equity research advisor.
Permian to Drive Output Growth as Other Basins Flatten, Decline–EIA
Lower 48 oil production from outside the Permian Basin—namely, the Bakken and Eagle Ford shales—is expected to flatten and decline in coming years, per new EIA forecasts.
Pickering Prognosticates 2025 Political Winds and Shale M&A
For oil and gas, big M&A deals will probably encounter less resistance, tariffs could be a threat and the industry will likely shrug off “drill, baby, drill” entreaties.
Shale Consolidation Aftermath: The Field Narrows
Widespread consolidation has reshaped the list of top public producers, says Enverus CEO Manuj Nikhanj.