Conoco Phillips

NYSE:COP   3:59:57 PM EDT
+0.81 (+1.07%)
5:26:34 PM EDT: $76.63 +0.10 (+0.13%)
Debt Financing / Related, Earnings Announcements

ConocoPhillips Announces All-Cash Permian Asset Acquisition

Published: 09/20/2021 21:49 GMT
Conoco Phillips (COP) - Announces Significant Enhancement to Multi-year Plan With All-cash Permian Asset Acquisition; Increases Ordinary Dividend; Improves 2030 Emissions Intensity Reduction Target.
Increase in Company's Quarterly Ordinary Dividend From 43 Cents per Share to 46 Cents per Share.
Plans to Increase Its Targeted Level of Dispositions From Previously Announced $2-3 Billion to $4-5 Billion by 2023.
Shell Deal Will Be Funded From Available Cash While Still Retaining a Significant Level of Cash on Balance Sheet for General Purposes.
In Conjunction With Shell Transaction, Co Announced It Will Improve Its Scope 1 and 2 Ghg Emissions Intensity Reduction Targets.
Transaction Does Not Impact Company's Previously Announced Intention to Reduce Gross Debt Over Next Several Years.
at Recent Strip Pricing and Estimated 2022 Production, Next Year's Cash From Operations From Acquired Assets is Estimated at $2.6 Billion.
Incremental $2 Billion of Planned Dispositions Are Expected to Be Sourced Primarily From Permian Basin.
Estimated 2022 Production From Acquired Assets is Expected to Be Approximately 200 Mboed, Roughly Half of Which is Operated.
Revenue is expected to be $10.46 Billion
Adjusted EPS is expected to be $1.38

Next Quarter Revenue Guidance is expected to be $11.63 Billion
Next Quarter EPS Guidance is expected to be $1.85

More details on our Analysts Page.