ConocoPhillips sees FY26 capital expenditures $12B

The company said, “Fourth-quarter 2025 production is expected to be 2.30 to 2.34 million barrels of oil equivalent per day. Full-year production guidance has been raised to 2.375 MMBOED, compared to prior guidance of 2.35 to 2.37 MMBOED. Full-year adjusted operating cost guidance is lowered to $10.6 billion versus prior guidance of $10.7 to $10.9 billion. The company provided preliminary guidance for 2026. Capital expenditures are expected to be approximately $12 billion, down $0.5 billion from the midpoint of 2025 guidance. Adjusted operating costs are expected to be $10.2 billion, down $0.4 billion from 2025 guidance. The company also expects 0 to 2% underlying production growth.”