Latest news with #RyanLance
CNBC
07-08-2025
- Business
- CNBC
ConocoPhillips CEO: We're focused on 'organic investments and economic opportunities'
Ryan Lance, ConocoPhillips CEO, joins CNBC's 'Squawk on the Street' to discuss the company's latest quarter, asset dispositions, and much more.
Yahoo
07-08-2025
- Business
- Yahoo
ConocoPhillips tops Q2 earnings expectations, shares rise
-- ConocoPhillips (NYSE:COP) on Thursday reported second-quarter 2025 adjusted earnings of $1.42 per share, exceeding analyst expectations of $1.38 per share, as the oil and gas producer successfully integrated Marathon Oil (NYSE:MRO) assets and announced additional cost reduction initiatives. The company's shares rose 1.8% following the earnings release. The Houston-based energy giant generated $4.7 billion in cash from operations during the quarter, while total production reached 2,391 thousand barrels of oil equivalent per day (MBOED), up 23% from 1,945 MBOED in the same period last year. However, the company's total average realized price was $45.77 per barrel of oil equivalent (BOE), 19% lower than the $56.56 per BOE realized in the second quarter of 2024. "In the second quarter, we delivered strong results financially, operationally and strategically. We completed the integration of Marathon Oil and remain on track to deliver greater than $1 billion in synergies and more than $1 billion of one-time benefits," said Ryan Lance, chairman and chief executive officer. ConocoPhillips announced it has signed an agreement to sell its Anadarko Basin assets for $1.3 billion, with the transaction expected to close at the beginning of the fourth quarter. This sale exceeds the company's initial $2 billion disposition target ahead of schedule, prompting management to increase its disposition target to $5 billion by year-end 2026. The company returned $2.2 billion to shareholders during the quarter through $1.2 billion in share repurchases and $1.0 billion in dividends. ConocoPhillips declared a third-quarter ordinary dividend of $0.78 per share, payable on September 2, 2025. Looking ahead, ConocoPhillips expects third-quarter 2025 production to be between 2.33 and 2.37 MMBOED, while maintaining its full-year production guidance of 2.35 to 2.37 MMBOED despite announced asset dispositions. Related articles ConocoPhillips tops Q2 earnings expectations, shares rise If Powell goes, does Fed trust go with him? 7 Undervalued Stocks on the Rise With 50%+ Upside Potential
The Star
18-06-2025
- Business
- The Star
ConocoPhillips eyes investment in Sabah, reaffirms commitment to Malaysia
ConocoPhillips CEO Ryan Lance KUALA LUMPUR: United States oil giant ConocoPhillips has set its sights on potential investments in Sabah while reaffirming its long-term commitment to Malaysia. Its chief executive officer, Ryan Lance, said the company is currently in discussions with Petroliam Nasional Bhd (PETRONAS) regarding investment opportunities in the country. "We are going to invest in Sabah going forward, and we are exploring many opportunities with PETRONAS,' he told Bernama after participating in a Leadership Dialogue session titled "Gas and Liquefied Natural Gas (LNG): Investing for the Long Term" here today. The session, held as part of Energy Asia 2025, also featured other panellists, including PETRONAS Gas and Maritime executive vice president and chief executive officer Datuk Adif Zulkifli, and was moderated by S&P Global senior vice president and chief energy strategist Dr Atul Arya. ConocoPhillips had announced on April 30 that it had exited from operating the Salam-Patawali deepwater oil and gas field, also known as Block WL4-00, off Sarawak's coast. The field, discovered jointly with PETRONAS in 2018, was developed under a 50:50 joint venture valued at about RM13.7 billion (US$3.13 billion). The company, in a brief statement, said that the withdrawal was part of a "country strategy review', without further elaboration. According ConocoPhillips website, the company is engaged in various stages of exploration, development, and production activities across Malaysia, with working interests in five production sharing contracts (PSCs). Four of these PSCs are located in waters off the eastern Malaysian state of Sabah: Block G, Block J, the Kebabangan Cluster and the Ubah Cluster, which was acquired in 2024. Meanwhile, during the leadership dialogue, Lance said ConocoPhillips remains confident about its prospects in the LNG sector and is ready to develop more LNG projects. Responding to a question on the emerging trend of longer-term LNG contracts, Lance noted that a mixed approach is emerging, with some multi-decade deals taking place in Qatar. "Generally, customers want flexibility, shorter-term contracts with some destination flexibility. But it remains to be seen whether the developer, purchaser, or seller of the LNG will offer that kind of flexibility. "That kind of optionality will be key to accessing arbitrage opportunities across global importing regions,' he said. Asked whether LNG pricing poses a barrier to entry into the Asian market, Lance said ConocoPhillips maintains a long-term, constructive view on pricing. "There will be ups and downs, as there always are in this business, but overall the outlook remains positive over the long term,' he added. - Bernama
Free Malaysia Today
18-06-2025
- Business
- Free Malaysia Today
ConocoPhillips eyes investment in Sabah, reaffirms commitment to M'sia
ConocoPhillips CEO Ryan Lance said the company is in discussions with Petronas regarding investment opportunities in Malaysia. (EPA Images pic) PETALING JAYA : US oil giant ConocoPhillips has set its sights on potential investments in Sabah while reaffirming its long-term commitment to Malaysia. Its CEO, Ryan Lance, today said the company is in discussions with Petroliam Nasional Bhd (Petronas) regarding investment opportunities in the country, Bernama reported. 'We are going to invest in Sabah going forward, and we are exploring many opportunities with Petronas,' Lance said during a dialogue session at the Energy Asia 2025 conference in Kuala Lumpur. ConocoPhillips confirmed its exit from the Salam-Patawali deepwater oil and gas field off Sarawak's coast in April, a decision which it said was based on prioritisation within its global portfolio. The deepwater oil and gas field, discovered with Petronas in 2018, was developed under a 50:50 joint venture. In January, a ConocoPhillips subsidiary, ConocoPhillips Sabah Gas Ltd, became the sole operator of the Kebabangan Cluster Production Sharing Contract (KBBC PSC). The Kebabangan gas field, which produces 140 MBOED (million barrels of oil equivalent per day), is located 130km offshore northwest of Sabah waters in the South China Sea. KBBC PSC was previously operated by Kebabangan Petroleum Operating Company Sdn Bhd, a joint operating company comprising Petronas Carigali Sdn Bhd, Shell Energy Asia Limited, and ConocoPhillips Sabah Gas Ltd.
Malay Mail
18-06-2025
- Business
- Malay Mail
Oil giant ConocoPhillips targets Sabah investment, signals long-term bet on Malaysia's energy future
KUALA LUMPUR, June 18 — United States oil giant ConocoPhillips has set its sights on potential investments in Sabah while reaffirming its long-term commitment to Malaysia. Its chief executive officer, Ryan Lance, said the company is currently in discussions with Petroliam Nasional Bhd (Petronas) regarding investment opportunities in the country. 'We are going to invest in Sabah going forward, and we are exploring many opportunities with Petronas,' he told Bernama after participating in a Leadership Dialogue session titled 'Gas and Liquefied Natural Gas (LNG): Investing for the Long Term' here today. The session, held as part of Energy Asia 2025, also featured other panellists, including Petronas Gas and Maritime executive vice president and chief executive officer Datuk Adif Zulkifli, and was moderated by S&P Global senior vice president and chief energy strategist Dr Atul Arya. ConocoPhillips had announced on April 30 that it had exited from operating the Salam-Patawali deepwater oil and gas field, also known as Block WL4-00, off Sarawak's coast. The field, discovered jointly with Petronas in 2018, was developed under a 50:50 joint venture valued at about RM13.7 billion (US$3.13 billion). The company, in a brief statement, said that the withdrawal was part of a 'country strategy review', without further elaboration. According ConocoPhillips website, the company is engaged in various stages of exploration, development, and production activities across Malaysia, with working interests in five production sharing contracts (PSCs). Four of these PSCs are located in waters off the eastern Malaysian state of Sabah: Block G, Block J, the Kebabangan Cluster and the Ubah Cluster, which was acquired in 2024. Meanwhile, during the leadership dialogue, Lance said ConocoPhillips remains confident about its prospects in the LNG sector and is ready to develop more LNG projects. Responding to a question on the emerging trend of longer-term LNG contracts, Lance noted that a mixed approach is emerging, with some multi-decade deals taking place in Qatar. 'Generally, customers want flexibility, shorter-term contracts with some destination flexibility. But it remains to be seen whether the developer, purchaser, or seller of the LNG will offer that kind of flexibility. 'That kind of optionality will be key to accessing arbitrage opportunities across global importing regions,' he said. Asked whether LNG pricing poses a barrier to entry into the Asian market, Lance said ConocoPhillips maintains a long-term, constructive view on pricing. 'There will be ups and downs, as there always are in this business, but overall the outlook remains positive over the long term,' he added. — Bernama
