ConocoPhillips announces second-quarter 2026 results and quarterly dividend

10 Aug ConocoPhillips announces second-quarter 2026 results and quarterly dividend

(Oilandgaspress) 10/08/26 – ConocoPhillips reported second-quarter 2026 earnings of $3.9 billion, or $3.23 per share, compared with second-quarter 2025 earnings of $2.0 billion, or $1.56 per share. Excluding special items, second-quarter 2026 adjusted earnings were $4.0 billion, or $3.24 per share, compared with second-quarter 2025 adjusted earnings of $1.8 billion, or $1.42 per share.

Second-quarter highlights and recent announcements

• Delivered total company and Lower 48 production of 2,248 thousand barrels of oil equivalent per day (MBOED) and 1,479 MBOED, respectively.
• Increased shareholder distributions to $3.0 billion, including $2.0 billion through share repurchases and $1.0 billion through the ordinary dividend.
• Signed agreements to sell noncore Lower 48 assets for $1.7 billion, which closed in July, achieving $5 billion disposition target ahead of schedule.
• Signed an agreement to acquire a 42% interest in a joint venture in the Kirkuk area of northern Iraq, accessing long-life, conventional redevelopment opportunities at an attractive entry cost and competitive cost of supply; closing expected by year-end 2026.
• Executed an agreement for re-entry into Syria, leveraging existing infrastructure to restore and increase production at onshore fields.
• Advanced commercial LNG strategy with additional 2 million tonnes per annum (MTPA) of offtake agreements, bringing total LNG offtake to 12 MTPA.
• Ended the quarter with cash and short-term investments of $8.1 billion and long-term investments of $1.2 billion. 

Quarterly dividend

ConocoPhillips declared a third-quarter ordinary dividend of $0.84 per share, payable Sept. 1, 2026, to stockholders of record at the close of business on Aug. 17, 2026.

Information Source: Read More