$COP (ConocoPhillips)

$COP {{ '2016-02-04T17:13:16+0000' | timeago}} • Webcast

Houston, Texas headquartered $COP said that due to deterioration in near-term price outlook and expected longer supply/demand imbalance, the company is reducing its 2016 operating plan capital and operating expense. These reductions will improve net cash flow by $2Bil compared to the Dec. plan. $COP is also dropping down to 3 rigs in the Lower 48.

$COP {{ '2017-05-02T17:12:56+0000' | timeago}} • Webcast

$COP estimates to use about $5Bil for debt reduction over 2017-2018 and an additional $3Bil for share buybacks. This total amount of $8Bil will have to be funded from the combination of cash balances which are the result of dispositions and free cash flow.

$COP {{ '2017-05-02T16:48:07+0000' | timeago}} • Webcast

$COP stated that 1Q17 production in US onshore was up 2-3% over expectations. This improvement was driven by technology and other efficiency drivers such as data analytics. The company had predicted that for 2017, it would be 5-10% lower versus 2016. $COP now believes it will be at the low end of this decline range due to progress made in 1Q17.

$COP {{ '2017-05-02T16:38:31+0000' | timeago}} • Webcast

$COP said Capex for 1Q17 came in at about $950MM so the run rate for full-year 2017 would come to about $3.8Bil. The company expects to spend $5Bil in 2017. $COP was able to grow volumes at this low Capex rate. Exploration Capex was lower in 1Q17. The company believes the completion work on rigs will push Capex up through 2017.

$COP {{ '2017-05-02T11:56:23+0000' | timeago}} • Announcement

In 1Q17, $COP's production excluding Libya was 1,584 MBOED, an increase of 6 MBOED compared with the same period a year ago. $COP reduced production and operating expenses by 4% YoY during the period.

$COP {{ '2017-05-02T11:51:10+0000' | timeago}} • Announcement

In 2Q17, $COP's production is expected to be 1,495 to 1,535 MBOED, which excludes Libya and does not reflect impacts from the recently announced Canada and San Juan Basin dispositions. The company’s FY17 guidance items were unchanged.

$COP {{ '2017-05-02T11:48:01+0000' | timeago}} • Announcement

Energy corporation $COP posted a profit in 1Q17 after a series of losing quarters, helped by tax benefits and higher realized prices. Net earnings were $0.8Bil, or $0.62 per share, compared to a 1Q16 loss of $1.5Bil, or $1.18 per share. Excluding special items, net loss was $0.02 per share. Revenue rose 54% to $7.77Bil.

$COP {{ '2017-02-02T17:52:35+0000' | timeago}} • Webcast

For 2017, $COP expects depreciation expense to decline to $8Bil versus $9.1Bil in 2016. Exploration expense is expected to be $200MM versus approx. $700MM in 2016, reflecting the wind down of deepwater activity.

$COP {{ '2017-02-02T17:40:29+0000' | timeago}} • Webcast

$COP increased quarterly dividend by 6% to 26.5 cents. The company has set a target to reduce the debt to $20Bil by the end of 2019 and reduced debt by $1.4Bil in 4Q16. In mid-November, $COP started the share buyback under the initial $3Bil authorization.

$COP {{ '2017-02-02T17:28:06+0000' | timeago}} • Announcement

$COP's production, excluding Libya, for 4Q16 declined by 12 thousand barrels of oil equivalent per day (MBOED) from last year. The decrease was the result of normal field decline and dispositions, partly offset by new production from major projects and development programs, improved well performance, and lower downtime.

$COP {{ '2017-02-02T17:27:16+0000' | timeago}} • Announcement

$COP reported a narrower 4Q16 loss, driven by higher revenue as well as lower costs and expenses. Net loss narrowed to $35MM or $0.03 per share from $3.5Bil or $2.78 per share last year. Revenue grew to $7.25Bil from $6.77Bil. Adjusted loss per share narrowed to $0.26 from $0.90.

$COP {{ '2017-02-02T14:02:22+0000' | timeago}} • Announcement

$COP expects 2017 production of 1,540-1,570 thousand barrels of oil equivalent per day (MBOED), which is flat to 2% growth over last year. Capital expenditures are expected to be $5Bil, and production and operating expenses are estimated to be $6.1Bil. $COP sees 1Q17 production of 1,540-1,580 MBOED.

$COP {{ '2016-10-27T17:28:01+0000' | timeago}} • Webcast

$COP expects to add four rigs in Eagle Ford and four rigs in the Bakken regions in 2016. The company will be looking to add rigs in its Permian acreage in 2017. $COP is seeing progress in recoveries and costs in the Bakken and Eagle Ford regions which is the reason the company allocated the additional rigs in these places.

$COP {{ '2016-10-27T17:17:48+0000' | timeago}} • Webcast

$COP said the APLNG Train 2 had a smooth startup and has been ramping up with no issues so far. Train 1 continues to run at more than 10% over the nameplate capacity. The company is focused on the upstream on ramping up gas supply to run both trains at full capacity. $COP believes it could achieve this target in 2Q17.

$COP {{ '2016-10-27T17:00:35+0000' | timeago}} • Webcast

$COP started 2016 with a Capex projection of $6.4Bil and flat volumes. The company is currently down to $5.2Bil in Capex with a 3% increase in volumes, adjusting for dispositions. This progress was helped by cost reductions and $COP is getting bigger savings in 2H16 in Alaska, Europe and the Far East.

$COP {{ '2016-10-27T16:52:11+0000' | timeago}} • Webcast

$COP said due to the falling prices and soft market, the company put a hold on asset sales. $COP has set a goal of achieving $1-2Bil in asset sales in a weak market and has set the guidance at around $1Bil for 2016. In a better market, the company has set the goal at around $2Bil. As prices recover, $COP will look for opportunities in asset sales.

$COP {{ '2016-10-27T16:24:49+0000' | timeago}} • Webcast

In 3Q16, $COP achieved production of 1,557MBOED, driven by better than expected performance in Canada, Norway, Lower 48 unconventionals and Malaysia. In Canada, Surmont fully recovered from wildfire impacts and achieved more than 100,000 barrels a day of gross production in mid-October. First production was achieved at APLNG Train 2 in Australia.

$COP {{ '2016-10-27T16:12:31+0000' | timeago}} • Webcast

$COP exceeded the high end of its production guidance range in 3Q16, delivering 4% underlying production growth YoverY. The company generated $1.23Bil of operating cash flow, excluding working capital. $COP achieved an 18% reduction in adjusted operating costs compared to 3Q15.

$COP {{ '2016-10-27T12:57:57+0000' | timeago}} • Announcement

$COP increased the midpoint of full-year 2016 production guidance to 1,565 MBOED, reflecting a range of 1,560-1,570 MBOED on strong year-to-date performance across Lower 48, Europe and Asia Pacific. For 4Q16, production guidance is 1,555-1,595 MBOED. Production guidance excludes Libya.

$COP {{ '2016-10-27T12:54:09+0000' | timeago}} • Announcement

Oil and gas exploration company $COP reported a net loss of $1Bil or $0.84 per share in 3Q16 compared to a net loss of $1.1Bil or $0.87 per share in 3Q15. Adjusted net loss was $0.8Bil or $0.66 per share in 3Q16. Total revenues and other income declined to $6.5Bil from $7.5Bil last year.

$COP {{ '2016-07-28T17:22:35+0000' | timeago}} • Webcast

Ryan Todd of Deutsche Bank asks about cost management. $COP said its volumes are higher and both Capex and Opex are lower. So these factors are helping in reducing breakeven cost of capital. The company is taking efforts to lower the breakeven level further down.

Recent Transcripts

COP (ConocoPhillips)
Thursday, July 27 2017 - 4:00pm
HP (Helmerich & Payne, Inc.)
Thursday, July 27 2017 - 3:00pm
EQT (EQT Corporation)
Thursday, July 27 2017 - 2:30pm
VLO (Valero Energy Corporation)
Thursday, July 27 2017 - 2:00pm
MPC (Marathon Petroleum Corporation)
Thursday, July 27 2017 - 1:00pm
HAL (Halliburton Company)
Monday, July 24 2017 - 1:00pm
GE (General Electric Company)
Friday, July 21 2017 - 12:30pm
SDRL (SeaDrill Limited)
Wednesday, May 24 2017 - 4:00pm
SRE (Sempra Energy)
Tuesday, May 9 2017 - 4:00pm
TSO (Tesoro Corporation)
Tuesday, May 9 2017 - 12:30pm
EGN (Energen Corp.)
Friday, May 5 2017 - 3:00pm
BPL (Buckeye Partners, L.P.)
Friday, May 5 2017 - 3:00pm
TREC (Trecora Resources)
Thursday, May 4 2017 - 8:30pm
APA (Apache Corp.)
Thursday, May 4 2017 - 6:00pm
BTU (Peabody Energy Corporation)
Thursday, May 4 2017 - 3:00pm
CHK (Chesapeake Energy Corporation)
Thursday, May 4 2017 - 1:00pm
CXO (Concho Resources, Inc.)
Thursday, May 4 2017 - 1:00pm
NFX (Newfield Exploration Co.)
Wednesday, May 3 2017 - 3:00pm
COP (ConocoPhillips)
Tuesday, May 2 2017 - 4:00pm
CVX (Chevron Corporation)
Friday, April 28 2017 - 3:00pm

AlphaGraphics you may like