ConocoPhillips targets US$1 billion cost cut in 2026 after quarterly profit miss [BNN Bloomberg (Canada)]
ConocoPhillips (COP)
Last conocophillips earnings: 4/30 07:00 am
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US:NYSE Investor Relations:
conocophillips.com/investor-relations/investor-presentations
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Source: BNN Bloomberg
Oil producers have been under mounting pressure from falling prices, prompting efforts across the sector to rein in spending, scale back drilling and cut headcount. CEO Ryan Lance said the cost-reduction push builds on more than $1 billion in run-rate synergies captured in 2025, following the $22.5 billion acquisition of Marathon Oil. “We're focused on driving a $1 billion reduction in our capital and costs in 2026, while returning 45 per cent of our cash from operations to shareholders,” Lance said. The largest independent U.S. oil and gas producer said it closed $3.2 billion in asset sales in 2025 and remains on track to meet its $5 billion disposition target by the end of 2026, as it streamlines its business. ConocoPhillips said last year it planned to reduce its workforce by 20% to 25% as part of a broader restructuring. Oil prices squeezed by oversupply ConocoPhillips said its average realized price dropped 19 per cent to $42.46 per barrel of oil equivalent in the qu
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COP
News
- ConocoPhillips (NYSE:COP) had its "buy" rating reaffirmed by analysts at Roth Mkm.MarketBeat
- ConocoPhillips (COP) Q4 2025 Earnings Transcript [Yahoo! Finance]Yahoo! Finance
- ConocoPhillips reports lower-than-expected Q4 earnings, higher production [Yahoo! Finance]Yahoo! Finance
- ConocoPhillips: Q4 Earnings Snapshot [Yahoo! Finance]Yahoo! Finance
- ConocoPhillips declares $0.84 dividend [Seeking Alpha]Seeking Alpha
COP
Earnings
- 2/5/26 - Miss
COP
Sec Filings
- 2/5/26 - Form 8-K
- 1/20/26 - Form 4
- 1/20/26 - Form 4
- COP's page on the SEC website