COP · Energy

CONOCOPHILLIPS

Ranked earnings events from SEC filings, earnings calls, press releases and news. Full Picture: what to focus on this earnings window

News · 2026-08-07

• Free Cash Flow OutlookImportance 68 · Surprise 42
  ConocoPhillips reaffirmed a path toward a $7 billion free-cash-flow inflection by 2029. The outlook is supported by lower capital spending, major projects, and improved Permian efficiency. The company also maintained…
• Acquisition / Partnership / DivestitureImportance 58 · Surprise 42
  ConocoPhillips completed a $1.7 billion sale of noncore Lower 48 assets in July 2026. The transaction brought cumulative asset dispositions to the company’s $5 billion target ahead of schedule. Management said the…
• Upstream Production VolumeImportance 26 · Surprise 24
  ConocoPhillips’ second-quarter 2026 production exceeded the high end of its guidance range. Record output from the Permian Basin supported the result, although other reporting characterized total oil production as…

10-Q · 2026-08-06

• Capital Expenditure GuidanceImportance 80 · Surprise 68
  ConocoPhillips expects 2026 capital expenditures and investments of approximately $12 billion to $12.5 billion. The company invested $6.0 billion during the first six months of 2026, primarily across Alaska, Lower 48,…
• Net Income and ProfitabilityImportance 69 · Surprise 64
  Six-month income before income taxes increased 26.2% to $9.445 billion from $7.483 billion. Six-month net income increased 26.9% to $6.114 billion from $4.820 billion, and diluted earnings per share increased to $5.00…
• Oil and Gas Price SensitivityImportance 69 · Surprise 64
  Second-quarter 2026 Brent and WTI prices increased 54% and 46%, respectively, from the prior-year quarter, while Henry Hub natural gas prices declined 16% to $2.90 per MMBTU. Oil and bitumen prices benefited from…
• Capital Expenditures and Cash FlowImportance 65 · Surprise 48
  Six-month cash provided by operating activities increased 22.2% to $11.729 billion from $9.600 billion. Capital expenditures and investments totaled $5.972 billion in the first six months of 2026, down from $6.664…
• Acquisitions and DivestituresImportance 65 · Surprise 60
  ConocoPhillips agreed to sell certain noncore Lower 48 assets for approximately $1.7 billion, with the transactions closing in the third quarter of 2026 and representing approximately 21 MBOED of 2025 production. The…
• Litigation and Legal RiskImportance 65 · Surprise 60
  ConocoPhillips continues collection actions on international arbitration awards arising from Venezuela’s 2007 expropriation of the Petrozuata, Hamaca and Corocoro projects. An ICSID award of approximately $8.5 billion…
• Revenue Performance and MixImportance 64 · Surprise 56
  Second-quarter 2026 sales and other operating revenues increased 36.8% year over year to $19.161 billion from $14.004 billion, while six-month revenue increased 14.4% to $34.922 billion from $30.521 billion. Higher…
• Capital Return ProgramImportance 64 · Surprise 42
  ConocoPhillips returned $3.0 billion to shareholders in the second quarter of 2026, including $2.0 billion of share repurchases and $1.0 billion of ordinary dividends. The company declared a third-quarter ordinary…
• Operating Expense TrendsImportance 64 · Surprise 56
  Quarterly purchased commodities expense increased $1.627 billion, or 32%, to $6.712 billion, primarily because of higher crude prices partly offset by lower gas prices. Production and operating expenses declined $141…
• Segment Revenue PerformanceImportance 64 · Surprise 56
  Lower 48 revenue increased 30.8% to $13.028 billion in the second quarter and 12.1% to $24.108 billion for the first six months, while quarterly earnings increased to $2.584 billion from $1.399 billion. Alaska…
• Purchase Commitments and ObligationsImportance 64 · Surprise 42
  ConocoPhillips increased future contractual purchase obligations by approximately $7 billion in 2026. The increase primarily relates to long-term LNG offtake contracts, vessels and certain other capacity obligations.…
• Capital Expenditure ProgramImportance 60 · Surprise 40
  ConocoPhillips reinvested $3.0 billion in capital expenditures and investments during the second quarter of 2026. More than half of the quarterly spending supported flexible, short-cycle unconventional plays in the…
• Guidance and OutlookImportance 59 · Surprise 24
  Management expects third-quarter 2026 production of 2.29 MMBOED to 2.32 MMBOED. ConocoPhillips reaffirmed all full-year 2026 guidance items in the second-quarter filing. The company also anticipates incremental cost…
• Operating Cash Flow TrendsImportance 59 · Surprise 48
  Operating cash provided was $11.7 billion in the six months ended June 30, 2026, up from $9.6 billion in the comparable 2025 period. The $2.1 billion increase was driven by higher commodity prices and partly offset by…
• Outstanding IndebtednessImportance 54 · Surprise 14
  Total debt was $23.3 billion at June 30, 2026, down from $23.4 billion at December 31, 2025. The current portion of debt, including future finance-lease payments, was $0.5 billion, and the company retired $67 million…
• Qatar Supply ConstraintsImportance 52 · Surprise 42
  ConocoPhillips’ Qatar LNG investments were not damaged by Middle East tensions, but production remained constrained through the second quarter of 2026. The company warned that further escalation could disrupt regional…
• LNG Offtake ExpansionImportance 50 · Surprise 58
  During the second quarter of 2026, ConocoPhillips entered into commercial LNG agreements that increased commercial offtake commitments from 10.2 MTPA to 12.2 MTPA. The company’s LNG portfolio includes investments in…
• Acquisition / Partnership / DivestitureImportance 47 · Surprise 60
  In July 2026, ConocoPhillips agreed to acquire a 42 percent direct equity holding in a non-operated joint venture supporting redevelopment of four producing oil fields in the Kirkuk area of northern Iraq. The…
• Environmental Credit AccountingImportance 44 · Surprise 60
  In May 2026, the FASB issued ASU No. 2026-02, Accounting for Environmental Credit Programs. The standard establishes recognition, measurement, presentation and disclosure requirements for entities that generate,…
• Upstream Production VolumeImportance 43 · Surprise 32
  Second-quarter 2026 production declined 143 MBOED, or 6%, year over year to 2,248 MBOED, while six-month production declined 113 MBOED, or 5%, to 2,278 MBOED. After adjusting for closed acquisitions and dispositions,…
• LNG Joint Venture InvestmentsImportance 37 · Surprise 6
  ConocoPhillips held a 47.5% interest in Australia Pacific LNG, whose debt balance was $3.1 billion at June 30, 2026 and whose equity-method carrying value was approximately $4.8 billion. The company’s equity-method…
• Liquidity and Cash PositionImportance 37 · Surprise 6
  At June 30, 2026, ConocoPhillips had total liquidity of $13.2 billion, including $6.6 billion of cash and cash equivalents, $1.1 billion of short-term investments, and $5.5 billion of available revolving-credit…
• Middle East Conflict ImpactImportance 37 · Surprise 42
  Geopolitical tensions and the ongoing conflict involving Iran increased volatility in global energy markets and elevated risks to regional operations, infrastructure and shipping routes. ConocoPhillips has investments…
• Acquisitions and PartnershipsImportance 37 · Surprise 60
  In June 2026, ConocoPhillips and a third-party operator signed an agreement with the Syrian government and Syrian Petroleum Company to increase production from and further develop certain Syrian gas fields, although no…
• ESG and sustainabilityImportance 29 · Surprise 24
  ConocoPhillips remains subject to international, federal, state and local environmental laws and regulations covering remediation and cleanup obligations. The company is participating in assessments and cleanups at…
• Geographic Production PerformanceImportance 20 · Surprise 24
  Alaska production declined 20 MBOED in the quarter and 17 MBOED for the first six months, primarily from normal field decline, partly offset by new wells. Canada production fell 39 MBOED in the quarter and 29 MBOED…
• Income Tax Rate ChangesImportance 14 · Surprise 14
  The effective tax rate increased to 35.4% in the second quarter of 2026 from 34.7% in the prior-year quarter. The quarterly increase primarily reflected a shift in the mix of income among taxing jurisdictions. The…
• Energy Transition InvestmentImportance 10 · Surprise 6
  ConocoPhillips stated that it remains committed to meeting its previously established emissions-reduction targets while continuing to provide energy and returns through commodity-price cycles. The company characterized…

8-K · 2026-08-06

• Capital Return ProgramImportance 89 · Surprise 82
  ConocoPhillips increased second-quarter 2026 shareholder distributions to $3.0 billion, comprising $2.0 billion of share repurchases and $1.0 billion of ordinary dividends. Share repurchases doubled from the prior…
• Acquisitions and DivestituresImportance 65 · Surprise 60
  The company signed agreements to sell noncore Lower 48 assets for $1.7 billion, and the transaction closed in July 2026. The disposition enabled ConocoPhillips to achieve its $5 billion asset-disposition target ahead…
• Net Income and ProfitabilityImportance 62 · Surprise 46
  Second-quarter 2026 earnings increased to $3.9 billion, or $3.23 per share, from $2.0 billion, or $1.56 per share, in the second quarter of 2025. Adjusted earnings increased to $4.0 billion, or $3.24 per share, from…
• LNG and Chemicals SegmentImportance 52 · Surprise 66
  ConocoPhillips executed additional LNG offtake agreements covering 2 million tonnes per annum. The new agreements increased total LNG offtake to 12 MTPA. The company described the agreements as an advance of its…
• LNG Offtake ExpansionImportance 52 · Surprise 66
  ConocoPhillips signed additional LNG offtake agreements totaling 2 million tonnes per annum. These agreements increased the company’s total LNG offtake to 12 MTPA. The expanded contracted offtake strengthens the…
• Middle East Conflict ImpactImportance 51 · Surprise 50
  ConocoPhillips said second-quarter 2026 production declined 143 MBOED year over year to 2,248 MBOED. After adjusting for acquisitions and dispositions, production fell 98 MBOED, or 4%, with organic Lower 48 growth more…
• Guidance and OutlookImportance 48 · Surprise 24
  ConocoPhillips expects third-quarter 2026 production of 2.29 million to 2.32 million barrels of oil equivalent per day. Management reaffirmed that all full-year 2026 guidance items remain unchanged. The company also…
• Upstream Production VolumeImportance 37 · Surprise 32
  Second-quarter 2026 total production was 2,248 MBOED, down 143 MBOED year over year and down 4% organically after adjusting for closed acquisitions and dispositions. Lower 48 production was 1,479 MBOED, including 720…
• Capital ExpendituresImportance 37 · Surprise 6
  ConocoPhillips funded $3.0 billion of capital expenditures and investments in the second quarter of 2026. Six-month capital expenditures and investments totaled $6.0 billion. Second-quarter spending was funded…
• Liquidity and Cash PositionImportance 37 · Surprise 6
  Cash provided by operating activities totaled $7.4 billion in the second quarter of 2026. Cash from operations, excluding a $0.3 billion increase from operating working-capital changes, was $7.2 billion. At…
• Geographic Market CommentaryImportance 37 · Surprise 32
  Organic production growth in the Lower 48 was more than offset by the impact of the Middle East conflict on Qatar and higher Surmont royalties. Second-quarter production declined 4% year over year after adjusting for…
• Syria Re-entry StrategyImportance 31 · Surprise 42
  ConocoPhillips executed an agreement to re-enter Syria. The company plans to leverage existing infrastructure to restore and increase production at onshore fields. The initiative adds exposure to Syria’s political and…

News · 2026-08-06

• Acquisition / Partnership / DivestitureImportance 58 · Surprise 42
  ConocoPhillips completed a $1.7 billion sale of noncore Lower 48 assets in July 2026. The transaction brought cumulative asset dispositions to the company’s $5 billion target ahead of schedule. Management said the…
• Oil and Gas Price SensitivityImportance 58 · Surprise 56
  ConocoPhillips benefited from a 36% increase in average realized oil and gas prices during the second quarter of 2026. Reuters reported that stronger commodity prices and cost-cutting measures offset lower production.…
• Revenue Performance and MixImportance 57 · Surprise 64
  ConocoPhillips reported second-quarter 2026 earnings of $3.9 billion, compared with $2.0 billion in the second quarter of 2025. Adjusted earnings were $3.24 per share, exceeding the $2.88 analyst estimate. Average…
• Capital Return ProgramImportance 50 · Surprise 24
  ConocoPhillips returned approximately $3 billion to shareholders during the second quarter of 2026 through share repurchases and dividends. The company maintained its shareholder-return targets despite lower production…
• Liquidity and Cash PositionImportance 37 · Surprise 6
  ConocoPhillips ended the second quarter with $8.1 billion in cash and short-term investments. The company linked the balance-sheet position to its $1.7 billion asset sale and ongoing shareholder distributions. The…
• Leadership TransitionImportance 31 · Surprise 42
  ConocoPhillips will implement a planned leadership succession effective September 1, 2026. CFO and EVP of Strategy and Commercial Andy O’Brien will become president and CEO, succeeding Ryan Lance, who will transition…
• Qatar LNG Project DelaysImportance 25 · Surprise 42
  ConocoPhillips expects any delays to its Qatar LNG project to be measured in months rather than a year or more. The company does not expect the timing disruption to affect free cash flow, suggesting limited near-term…

News · 2026-08-05

• Africa Expansion StrategyImportance 64 · Surprise 42
  ConocoPhillips is pursuing a multi-billion-dollar expansion in Africa following its acquisition of Marathon Oil. The transaction strengthened its positions in Libya and Equatorial Guinea. The company is focusing on…
• Revenue Performance and MixImportance 57 · Surprise 64
  ConocoPhillips reported second-quarter 2026 earnings of $3.9 billion, compared with $2.0 billion in the second quarter of 2025. Adjusted earnings were $3.24 per share, exceeding the $2.88 analyst estimate. Average…

News · 2026-08-04

• Acquisition / Partnership / DivestitureImportance 58 · Surprise 42
  ConocoPhillips completed a $1.7 billion sale of noncore Lower 48 assets in July 2026. The transaction brought cumulative asset dispositions to the company’s $5 billion target ahead of schedule. Management said the…
• Revenue Performance and MixImportance 57 · Surprise 64
  ConocoPhillips reported second-quarter 2026 earnings of $3.9 billion, compared with $2.0 billion in the second quarter of 2025. Adjusted earnings were $3.24 per share, exceeding the $2.88 analyst estimate. Average…