Conoco Phillips
Vigilo® - Real Time Intelligence Report
Company Information
| Company Name | Ticker | As of Date | |
|---|---|---|---|
| Conoco Phillips | COP.N | 28-08-2024 | |
| Sector | Industry | ||
| Energy | Oil & Gas Exploration & Production | ||
| Country | Region | ||
| USA | AMER | ||
Key Risk Metrics
| Period | ST | LT |
|---|---|---|
| Cumulative Score | 0.3 | 0.3 |
Heat Map
Business Description
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally.
Company level
ConocoPhillips [COP.N] has a ST cumulative score of 0.3, which represents the positive impact of recent events and is anticipated to have a favorable impact on the company in the near future.
ConocoPhillips (NYSE: COP) today reported second-quarter 2024 earnings and adjusted earnings of $2.3 billion, or $1.98 per share, compared with second-quarter 2023 earnings and adjusted earnings of $2.2 billion, or $1.84 per share. Production for the second quarter of 2024 was 1,945 MBOED, an increase of 140 MBOED from the same period a year ago.
Trinidad and Tobago's High Court has reaffirmed its decision to recognize U.S. oil giant ConocoPhillips' arbitration claim against Venezuela. This ruling, which could potentially freeze Trinidad's payments to Venezuela for joint natural gas projects, marks a significant development in the ongoing dispute over expropriations of oil Conoco's oil assets by the Venezuelan government.
ConocoPhillips (NYSE: COP) and Marathon Oil Corporation (NYSE: MRO) announced that they have entered into a definitive agreement pursuant to which ConocoPhillips will acquire Marathon Oil in an all-stock transaction with an enterprise value of $22.5 billion, inclusive of $5.4 billion of net debt.
Macro Level
Price rises in the US cooled in June, building hopes that the world's largest economy is moving on from the bout of high inflation that hit after the pandemic. It marked the third month in a row that inflation has fallen, easing financial pressures on households and potentially clearing the way for the US central bank to cut interest rates as soon as September.
US Federal Reserve Chair Jerome Powell said that he expects US inflation to resume declining through 2024 as it did last year, however, his confidence on lower inflation has lately dropped with the quick rise in prices during the first quarter.
Industry Level
After a harsh winter in January that reduced oil and gas output, U.S. drillers are ramping up again, with the February average daily gaining 600,000 bpd from January, according to data from the Energy Information Administration.