Conocophillips ( (COP) ) has released its Q4 earnings. Here is a breakdown of the information Conocophillips presented to its investors.
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ConocoPhillips is a leading global exploration and production company, known for its diversified asset portfolio and operations in 14 countries within the oil and gas sector. Headquartered in Houston, Texas, it is one of the world’s largest companies in its industry based on production and reserves.
ConocoPhillips has reported its financial results for the fourth quarter and full year 2024, alongside its guidance for 2025. The company announced the completion of its acquisition of Marathon Oil, which is expected to enhance its inventory with high-quality, low-cost supply adjacent to its U.S. unconventional position. It reported a fourth-quarter earnings per share of $1.90 and adjusted earnings per share of $1.98.
The company’s full-year earnings for 2024 stood at $9.2 billion, down from $11.0 billion in 2023, indicating a decrease in net income due to acquisition-related expenses and lower commodity prices. ConocoPhillips achieved a preliminary reserve replacement ratio of 244% and an organic reserve replacement ratio of 123%. The company also generated $20.1 billion in cash from operations and distributed $9.1 billion to shareholders through dividends and share repurchases.
For 2025, ConocoPhillips has set a return of capital target of $10 billion and provided a capital expenditure guidance of approximately $12.9 billion. The company expects production in the range of 2.34 to 2.38 million barrels of oil equivalent per day, with adjustments for turnarounds and weather-related impacts.
Looking ahead, ConocoPhillips plans to achieve more than $1 billion in integration-related synergies by the end of 2025, reflecting a strong focus on operational efficiency and capital management. The company remains committed to its strategic priorities and aims for steady growth in its core business areas.
