Latest news with #Anadarko
Reuters
5 days ago
- Business
- Reuters
ConocoPhillips to sell Anadarko assets for $1.3 bln; profit beats estimates
Aug 7 (Reuters) - ConocoPhillips (COP.N), opens new tab will sell its Anadarko Basin assets for $1.3 billion, the energy producer said on Thursday, after beating Wall Street estimates for second-quarter profit. Shares of the company rose nearly 2% in premarket trade. The asset sale, expected to close at the beginning of the fourth quarter, pushes ConocoPhillips past its $2 billion non-core asset disposition target ahead of schedule. In April, Reuters reported ConocoPhillips was exploring the sale of its Oklahoma oil-and-gas assets that were secured under its $22.5 billion takeover of Marathon Oil in 2024 - a deal that had expanded the company's footprint in the Permian, Eagle Ford, and Bakken basins, while also adding operations in the Anadarko shale formation and Equatorial Guinea. The Marathon deal helped lift the company's second-quarter production to 2.39 million barrels of oil equivalent per day (boepd), up 446,000 boepd from a year earlier. Third-quarter production is expected to be 2.33 to 2.37 million boepd, the company said in a statement. The production growth helped ConocoPhillips cushion the impact of lower crude prices. Brent crude averaged nearly 20% lower in the second quarter from a year earlier, as U.S. import tariffs, weak global economic signals and higher output from OPEC+ weighed on prices. Geopolitical tensions also pressured sentiment. Prices briefly rose above $80 per barrel in June after Israel struck Iranian nuclear sites, but eased to around $67 by the end of the quarter amid demand concerns and fading risk premiums. The company's total average realized prices stood at $45.77 per barrel oil equivalent, 19% lower than a year earlier. On an adjusted basis, ConocoPhillips reported a profit of $1.42 per share for the three months ended June 30, compared with analysts' average estimate of $1.38, according to data compiled by LSEG.
Yahoo
23-07-2025
- Business
- Yahoo
Gulfport Energy Schedules Second Quarter 2025 Earnings Release and Conference Call
OKLAHOMA CITY, July 23, 2025--(BUSINESS WIRE)--Gulfport Energy Corporation (NYSE: GPOR) announced today that it will host a teleconference and webcast to discuss its second quarter 2025 financial and operating results beginning at 9:00 a.m. ET (8:00 a.m. CT) on Wednesday, August 6, 2025. Gulfport plans to announce second quarter 2025 results on Tuesday, August 5, 2025, after market close. The conference call can be heard live through a link on the Gulfport website, In addition, you may participate in the conference call by dialing 866-373-3408 domestically or 412-902-1039 internationally. A replay of the conference call will be available on the Gulfport website and a telephone audio replay will be available from August 6, 2025 to August 20, 2025, by calling 877-660-6853 domestically or 201-612-7415 internationally and then entering the replay passcode 13754847. About Gulfport Gulfport is an independent, natural gas-weighted exploration and production company focused on the exploration, acquisition and production of natural gas, crude oil and NGL in the United States with primary focus in the Appalachia and Anadarko basins. Our principal properties are located in eastern Ohio targeting the Utica and Marcellus formations and in central Oklahoma targeting the SCOOP Woodford and SCOOP Springer formations. View source version on Contacts Investor Contact Jessica Antle – Vice President, Investor Relationsjantle@ 405-252-4550 Sign in to access your portfolio
Reuters
22-07-2025
- Business
- Reuters
ConocoPhillips nears sale of Oklahoma assets to Stone Ridge Energy, sources say
NEW YORK, July 22 (Reuters) - U.S. oil and gas producer ConocoPhillips (COP.N), opens new tab is in advanced talks to sell assets in Oklahoma to privately owned Stone Ridge Energy for around $1.3 billion, three people familiar with the matter told Reuters on Tuesday. Oklahoma City-based Flywheel Energy, a private oil and gas company backed by Stone Ridge Energy, will operate the assets on its backer's behalf, one of the sources said. The sources cautioned that no deal is guaranteed and talks could still end without an agreement. They also spoke on condition of anonymity to discuss private deliberations. ConocoPhillips declined to comment. Stone Ridge Energy, the energy-focused arm of New York-based Stone Ridge Asset Management, did not immediately respond to a request for comment. Flywheel, which also counts commodities trader Gunvor among its investors, did not immediately respond to requests for comment. Reuters reported in April that ConocoPhillips had hired investment bank Moelis & Co (MC.N), opens new tab to manage an auction of the assets, which are comprised of operations in the Anadarko basin inherited by the energy producer as part of its $22.5 billion takeover of Marathon Oil last year. As part of the deal, Stone Ridge Energy will acquire 300,000 net acres (121,406 hectares) in the Anadarko shale formation, which produce about 39,000 barrels of oil equivalent per day, of which about half is natural gas. If completed, the asset sale would help ConocoPhillips surpass a target to raise $2 billion from divestments. Conoco set that target after it took on about $5.4 billion of Marathon's debt as part of that acquisition.
Yahoo
03-07-2025
- Business
- Yahoo
Can Occidental Sustain and Increase its Dividend Amid Energy Cycles?
Occidental Petroleum Corporation OXY, an upstream oil and gas producer with integrated midstream and chemical operations, has made notable progress in strengthening its balance sheet and shareholder returns since the 2019 Anadarko acquisition. The company lowered debt by $6.8 billion in the past 10 months, which lowered its annual interest expenses by $370 million, boosting net income. The ongoing deleveraging effort has positioned it well to focus on increasing shareholder value, including strong free cash flow is underpinned by its low-cost, high-margin operations in the Permian Basin, complemented by steady contributions from international assets. This solid operational performance supports the company's dual focus on reducing debt and enhancing shareholder returns. In 2024, Occidental increased its dividend by 22%, underscoring management's commitment to delivering sustainable and disciplined capital company's diversified asset base, including its OxyChem segment and carbon capture ventures, adds resilience and optionality to earnings. These segments provide non-cyclical cash flows and position Occidental as a potential long-term energy transition player. Occidental's capital allocation strategy prioritizes returning excess free cash to its shareholders, with dividends forming a core component alongside company's enhanced financial position, operational efficiency and broad-based cash flow streams provide a strong foundation for maintaining and gradually increasing its dividend over time. Although exposure to commodity price fluctuations introduces an element of risk, Occidental's strategic discipline and capital prudence reinforce the credibility of its dividend growth outlook and offer investors confidence in the sustainability of the dividend policy. Oil and gas companies are enhancing shareholder value by consistently paying dividends, supported by strong cash flows and disciplined capital spending. These regular payouts reflect financial leading upstream oil and gas companies are ConocoPhillips COP and EOG Resources EOG, which are raising shareholder value through regular dividend payments. ConocoPhillips returned a total of $9.1 billion to shareholders in 2024, including $5.5 billion through share repurchases and $3.6 billion through Resources has a track record of stable and growing dividends spanning 27 years. EOG has never suspended or lowered its dividend, even during business turmoil, reflecting a solid underlying business. The stable performance of the company allowed its earnings to beat estimates in each of the last four reported quarters, the average surprise being 24.34%. Image Source: Zacks Investment Research Occidental's return on invested capital ("ROIC") is lower than the industry average in the trailing 12 months. ROIC of OXY was 6.26% compared with the industry average of 6.61%. Image Source: Zacks Investment Research Occidental's shares have gained 8.4% in the last three months compared with the Zacks Oil and Gas-Integrated-United States industry's rise of 8%. Image Source: Zacks Investment Research Occidental currently has a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ConocoPhillips (COP) : Free Stock Analysis Report Occidental Petroleum Corporation (OXY) : Free Stock Analysis Report EOG Resources, Inc. (EOG) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Globe and Mail
03-07-2025
- Business
- Globe and Mail
Can Occidental Sustain and Increase its Dividend Amid Energy Cycles?
Occidental Petroleum Corporation OXY, an upstream oil and gas producer with integrated midstream and chemical operations, has made notable progress in strengthening its balance sheet and shareholder returns since the 2019 Anadarko acquisition. The company lowered debt by $6.8 billion in the past 10 months, which lowered its annual interest expenses by $370 million, boosting net income. The ongoing deleveraging effort has positioned it well to focus on increasing shareholder value, including dividends. Occidental's strong free cash flow is underpinned by its low-cost, high-margin operations in the Permian Basin, complemented by steady contributions from international assets. This solid operational performance supports the company's dual focus on reducing debt and enhancing shareholder returns. In 2024, Occidental increased its dividend by 22%, underscoring management's commitment to delivering sustainable and disciplined capital returns. The company's diversified asset base, including its OxyChem segment and carbon capture ventures, adds resilience and optionality to earnings. These segments provide non-cyclical cash flows and position Occidental as a potential long-term energy transition player. Occidental's capital allocation strategy prioritizes returning excess free cash to its shareholders, with dividends forming a core component alongside buybacks. The company's enhanced financial position, operational efficiency and broad-based cash flow streams provide a strong foundation for maintaining and gradually increasing its dividend over time. Although exposure to commodity price fluctuations introduces an element of risk, Occidental's strategic discipline and capital prudence reinforce the credibility of its dividend growth outlook and offer investors confidence in the sustainability of the dividend policy. How Oil & Gas Companies Are Raising Shareholders' Value? Oil and gas companies are enhancing shareholder value by consistently paying dividends, supported by strong cash flows and disciplined capital spending. These regular payouts reflect financial stability. Some leading upstream oil and gas companies are ConocoPhillips COP and EOG Resources EOG, which are raising shareholder value through regular dividend payments. ConocoPhillips returned a total of $9.1 billion to shareholders in 2024, including $5.5 billion through share repurchases and $3.6 billion through dividends. EOG Resources has a track record of stable and growing dividends spanning 27 years. EOG has never suspended or lowered its dividend, even during business turmoil, reflecting a solid underlying business. OXY Stock's Earnings Surprise History The stable performance of the company allowed its earnings to beat estimates in each of the last four reported quarters, the average surprise being 24.34%. Occidental's ROIC Lower Than the Industry Occidental's return on invested capital ("ROIC") is lower than the industry average in the trailing 12 months. ROIC of OXY was 6.26% compared with the industry average of 6.61%. OXY's Price Performance Occidental's shares have gained 8.4% in the last three months compared with the Zacks Oil and Gas-Integrated-United States industry's rise of 8%. Price Performance (Three months) OXY's Zacks Rank Occidental currently has a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in the coming year. While not all picks can be winners, previous recommendations have soared +112%, +171%, +209% and +232%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. Today, See These 5 Potential Home Runs >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ConocoPhillips (COP): Free Stock Analysis Report Occidental Petroleum Corporation (OXY): Free Stock Analysis Report EOG Resources, Inc. (EOG): Free Stock Analysis Report
