ConocoPhillips on Thursday reported $2.01 billion in web revenue adjusted for nonrecurring gadgets for the third quarter, down from $2.08 billion for a similar three-month interval final 12 months on decrease costs.
The New York-listed firm’s adjusted earnings per share of $1.61 beat the Zacks Consensus Estimate of $1.4.
Web revenue earlier than adjustment was $1.73 billion, or $1.38 per share, down from $2.06 billion for Q3 2024.
- Advertisement -
ConocoPhillips raised its base dividend by eight p.c to $0.84 per share.
The autumn in costs was partially offset by “the advantages of the Marathon Oil acquisition and better underlying manufacturing volumes”, the Houston, Texas-based international explorer and producer stated in a press release on its web site.
ConocoPhillips accomplished its $22.5-billion takeover of Marathon Oil within the fourth quarter of 2024, increasing its footprint within the Delaware Basin and the Bakken and Eagle Ford shales.
Q3 2025 web manufacturing averaged 2.4 million barrels of oil equal a day (MMboed), with the USA Decrease 48 contributing 1.53 MMboed. Whole web manufacturing rose from 1.92 MMboed in Q3 2024, whereas Decrease 48 manufacturing elevated from 1.15 MMboed.
Q3 2025 crude oil manufacturing averaged 1.15 million barrels per day (MMbpd). Bitumen averaged 123,000 bpd. Pure fuel manufacturing averaged 4.17 billion cubic toes a day. Pure fuel liquids averaged 436,000 bpd
“Adjusting for closed acquisitions and tendencies, third-quarter 2025 manufacturing elevated 83 MBOED [thousand boed] or 4 p.c from the identical interval a 12 months in the past”, ConocoPhillips stated.
It bumped up its full-year manufacturing steerage from 2.35-2.37 MMboed to 2.375 MMboed.
Gross sales and different working revenues totaled $15.03 billion, up from $13.04 billion for Q3 2024. Working actions generated $5.9 billion in money.
ConocoPhillips stated it has divested over $3 billion price of belongings to this point this 12 months, towards a objective of $5 billion by yearend. It stated it had obtained $300 million in proceeds from the sale of non-core belongings within the third quarter, in addition to accomplished a $1.3-billion sale of Anadarko Basin belongings final month.
ConocoPhillips had $5.26 billion in money and money equivalents and $996 million in short-term investments on the finish of Q3 2025.
It owed $1.02 billion in short-term debt and $1.94 billion in accrued taxes.
“Trying to 2026, we anticipate decrease capital and working prices with flat to modest manufacturing development”, stated chair and chief government Ryan Lance. “Willow whole challenge capital is up to date to $8.5 to $9 billion, with whole LNG challenge capital diminished to $3.4 billion.
“Powered by our deep, sturdy and numerous portfolio, we stay on monitor to ship an anticipated $7 billion in incremental free money movement by 2029, together with $1 billion every year from 2026 by means of 2028”.
To contact the writer, e mail jov.onsat@rigzone.com
What do you assume? We’d love to listen to from you, be a part of the dialog on the
Rigzone Power Community.
The Rigzone Power Community is a brand new social expertise created for you and all vitality professionals to Converse Up about our trade, share information, join with friends and trade insiders and interact in knowledgeable neighborhood that may empower your profession in vitality.
