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May 13, 2014
11:07 EDTCOPConocoPhillips reaffirms goal to deliver double digit annual returns
ConocoPhillips today held its Annual Meeting of Stockholders where it reaffirmed its goal to deliver double-digit annual returns to shareholders. "ConocoPhillips is set for growth,” said Chairman and CEO Ryan Lance. “Our goal is to deliver 3 to 5 percent growth in both volumes and margins, with a compelling dividend. We believe there is clear demand for this kind of energy stock.” At the meeting, the company highlighted several key accomplishments in its first two years as an E&P company. These include: generating proceeds of $12.4B from the sale of non-core assets; delivering several major project startups; ramping up development drilling programs, primarily in the unconventionals; participating in four deepwater Gulf of Mexico exploration successes; and achieving a two-year average of 167% organic reserve replacement ratio. The company also raised its dividend in 2013 and remains committed to increases over time. During the meeting, the company also reiterated its five ongoing strategic priorities to drive long-term performance: Deliver 3%-5% compound annual production growth, as well as growth in reserves, through global drilling programs in legacy assets, unconventional assets and major projects. The company is also actively pursuing conventional and unconventional exploration opportunities that can sustain future growth; Generate 3%-5% compound annual margin growth over the next several years, at flat prices, by shifting the company’s production mix to higher-value products; Offer a compelling dividend; and Maintain a relentless focus on safety and execution. The company expects to spend an average of about $16B per year over the next several years to deliver its margin and volume growth. Over the next few years, the company will allocate 95% of its capital toward investments that deliver margins greater than the company’s average today.
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July 21, 2014
08:16 EDTCOPFMC Technologies signs agreement to develop susbsea equipment and systems
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July 17, 2014
07:42 EDTCOPThe Federal Energy Regulatory Commission (FERC) to hold a meeting
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July 16, 2014
12:06 EDTCOPConocoPhillips volatility flat into Q2 and outlook
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