ConocoPhillips profit beats estimates on higher production [Yahoo! Finance News]
ConocoPhillips (COP)
Last conocophillips earnings: 4/30 07:00 am
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conocophillips.com/investor-relations/investor-presentations
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Source: Yahoo! Finance News
ConocoPhillips profit beats estimates on higher production ) - U.S. oil and gas company ConocoPhillips' quarterly profit exceeded analysts' estimates on Tuesday, as higher shale production and a gain from asset sales offset the impact from lower crude prices and higher exploration costs. Shares rose 2.9% in morning trading to $57.26. The largest U.S. independent crude producer's results kicked off a quarter in which shale producers were expected to post sharp earnings declines from a year earlier. The oil and gas producer has been divesting assets to focus on its U.S. shale assets and earlier this month, agreed to sell its northern Australian business to partner Santos Ltd for $1.39 billion. It has used the asset sales to boost payouts to shareholders. Conoco reported total production, excluding Libya, rose by 98,000 barrels of oil equivalent per day boe/d) to 1.322 million boe/d, with output from U.S. shale basins including Eagle Ford, Bakken and the Permian up 21% in the quarter. Ne
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COP
Earnings
- 2/8/24 - Beat
COP
Sec Filings
- 3/26/24 - Form 144
- 3/26/24 - Form 4
- 3/26/24 - Form 4
- COP's page on the SEC website