ConocoPhillips has a significant institutional ownership of 83%, making its stock price sensitive to institutional trading actions. The top 19 investors hold a combined 50% stake, with The Vanguard Group being the largest shareholder at 9.3%.
In FY2023, ConocoPhillips reported substantial reserves and production, with significant contributions from the Lower 48 regions, including the Permian and Eagle Ford.
ConocoPhillips reported first-quarter 2024 earnings of $2.6 billion, with adjusted earnings per share at $2.03. While the company anticipates maintaining flat activity in the Permian Basin throughout 2024 in terms of both rigs and well completion crews,.
ConocoPhillips has been emphasizing operational efficiency and modest production growth in the Permian Basin as part of its broader strategy for the Lower 48 region in 2024.
Both companies are building major projects, and senior officials told an industry audience that the future is bright for new oil development in Arctic Alaska
The EPA’s methane rule has elements that are “unworkable,” the head of oil giant ConocoPhillips said Tuesday.
Supporting multiple producers, the BCC can handle a maximum of 150,000 barrels of crude oil per day, accepting supplies from various lease tank batteries and other field receipt points in the Midland Basin
ConocoPhillips Co. expects to pull the brake on its United States production in 2024 and will instead focus on operational and capital efficiency, company leaders said, after it delivered a company record for the Lower 48 with an annual average output of 1.1 million barrels of oil equivalent per day (MMboepd).
Conoco U.S. oil firms are reporting higher-than-expected oil production in the country’s main shale basin, with Chevron Corp surprising analysts last week and Exxon Mobil also expanding its U.S. production.
A federal judge upheld the Biden administration’s approval of ConocoPhillips’ 600-million-barrel Willow oil development in Alaska, a blow to environmentalists who argued it would imperil wildlife and exacerbate climate change.
