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ConocoPhillips will not chase expensive Permian deals, CEO says

ConocoPhillips Chief Executive Officer Ryan Lance on Tuesday repeated a pledge to restrain spending, saying the U.S. oil producer would not be drawn into pricey mergers and acquisitions. ConocoPhillips plans to keep its capital spending at around $6 billion this year, Lance told shareholders at the company's annual meeting. ConocoPhillips has won billions of dollars in arbitration awards over the expropriation of its assets in Venezuela and posted a first-quarter profit that topped estimates.
Tags: Science, Venezuela, ConocoPhillips, Lance, Ryan Lance

Turbulent or Steady? OPEC or Shale? -- The State of Oil in 2019 - Bloomberg

Turbulent or Steady? OPEC or Shale? -- The State of Oil in 2019 - Bloomberg:Oil had a tumultuous 2018, with prices rising to a four-year high in October before plunging more than $30 in the following months. Oversupply and demand worries are high on the concern list for the industry, making volatility a buzzword this year as well.There are other power dynamics at play. OPEC’s Viennese waltz in early December was a perfect example of a shift, with Russia brokering a deal to curb output and sharin...
Tags: Travel, Saudi Arabia, Russia, Opec, Bloomberg, Donald Trump, ConocoPhillips, International Energy Agency, Ryan Lance, Pacific Investment Management Co, Rupert Neil Bumfrey, Neil Atkinson, Greg Sharenow

ConocoPhillips Receives DU Corporate Conservation Achievement Award

ConocoPhillips Headquarters MEMPHIS, Tenn. -( ConocoPhillips, the multinational energy corporation headquartered in Houston, Texas, received the inaugural Ducks Unlimited Corporate Conservation Achievement Award Saturday, June 3, at DU’s 80th Annual National Convention in San Antonio, Texas.The award was created to recognize corporations from the United States, Canada or Mexico that have made exceptional contributions to conservation in North America.“ConocoPhillips has a long an...
Tags: Guns, Mexico, Awards, Gulf Coast, North America, Ducks Unlimited, ConocoPhillips, San Antonio Texas, Houston Texas, Lance, United States Canada, Ryan Lance, Conservation News, Ducks Unlimited Inc, Dale Hall, Playa Lakes Joint Venture

ConocoPhillips CEO: Upstream companies need to be prepared for the next downturn

Houston-based ConocoPhillips (NYSE: COP) CEO Ryan Lance had some advice for oil and gas companies at IHS CERAWeek conference — caution and patience. He said that while things might be looking up right now, it's important for companies like his to make sure they can operate no matter where in the market cycle they are. The industry's cycles are getting tighter, Lance said, with less time between each peak and valley. That's partly because of U.S. shale production. While he said U.S. shale isn't...
Tags: Houston, ConocoPhillips, Lance, IHS, Ryan Lance, ConocoPhillips NYSE

U.S. shale firms go back to work buoyed by OPEC deal, Trump victory | Reuters

U.S. shale firms go back to work buoyed by OPEC deal, Trump victory | Reuters: "U.S. shale producers are redeploying cash, rigs and workers, cautiously confident the energy sector has turned a corner after Donald Trump's election victory and OPEC's recent signal that it plans to curb production.The downturn produced a leaner, more efficient U.S. shale industry that was forced to develop and quickly adapt new technology to compete with conventional oil supplies during a two-year period of depress...
Tags: Travel, Opec, Donald Trump, ConocoPhillips, Trump, Reuters, Ryan Lance, Rupert Neil Bumfrey

3 Things ConocoPhillips' CEO Wants You to Know

Image source: ConocoPhillips.ConocoPhillips (NYSE: COP) recently reported mixed second-quarter results. Financially, the quarter was awful after weak oil and gas prices caused the company to report a whopping $1.1 billion loss. That said, CEO Ryan Lance wanted investors to know that despite the harsh operating conditions the company was making progress. He led off the company's second-quarter conference call saying that the key messages from the quarter were that: "we delivered strong operatio...
Tags: Energy, Finance, Materials, ConocoPhillips, COP, Ryan Lance, and Utilities, Matthew DiLallo, TOT

3 Things to Expect From ConocoPhillips in the Future

Image source: ConocoPhillips.Like most oil companies, ConocoPhillips (NYSE: COP) has been forced to readjust how it operates in light of the downturn in oil prices. As such, the company is now managing its business along three time horizons -- short-, medium-, and longer-term -- instead of focusing the bulk of its attention on longer-term growth. In the short term, that means avoiding a repeat of past mistakes by defending against lower oil prices. Meanwhile, for the medium and longer terms, t...
Tags: Energy, Finance, Materials, ConocoPhillips, COP, Ryan Lance, ConocoPhillips NYSE, and Utilities, XOM, Matthew DiLallo

1 Thing ConocoPhillips is Focused on Getting Right

Image Source: ConocoPhillips.The deep downturn in the oil market is forcing the industry to adjust to what appears to be a new normal. For ConocoPhillips (NYSE: COP) , that not only means having the right portfolio for what lies ahead, but also allocating capital to deliver the best returns possible. In order to improve its returns the company has had to reset how it thinks about allocating capital, which was a topic that CEO Ryan Lance addressed on the company's first-quarter conference call. ...
Tags: Energy, Finance, Materials, ConocoPhillips, COP, Ryan Lance, ConocoPhillips NYSE, and Utilities, XOM, Matthew DiLallo

ConocoPhillips' CEO Details Why Its Portfolio Is the Best for What Lies Ahead

Image source: Cenovus Energy.The oil market is currently undergoing a fundamental shift, which is forcing oil companies to map out a new way forward. According to ConocoPhillips  (NYSE: COP) CEO Ryan Lance, the industry is entering a new world of "lower mid-cycle and more volatile prices." Because of this, companies needed to have the right portfolio in order to create value over the longer term. Here's why Lance believes ConocoPhillips already has the right portfolio mix for what lies ahead. C...
Tags: Energy, Finance, Materials, ConocoPhillips, COP, CVE, Lance, Ryan Lance, ConocoPhillips NYSE, and Utilities, Matthew DiLallo, TOT

Better Buy Today: Royal Dutch Shell vs. BP plc

Image Source: pixabay.comBecause crude prices have declined so much, supermajors have been under pressure as never before. In February, ConocoPhillips (NYSE: COP) cut its dividend to $0.25 from $0.74, with CEO Ryan Lance saying, 'While we don't know how far commodity prices will fall, or the duration of the downturn, we believe it's prudent to plan for lower prices for a longer period of time." Continue reading [Author: [email protected] (Jay Yao)]
Tags: Energy, Materials, Royal Dutch Shell, Bp, COP, Ryan Lance, ConocoPhillips NYSE, and Utilities, RDS-A, XOM, RDS-B, Jay Yao, E45232ae-db61-11e5-b037-0050569d4be0, Better Buy Today

UPDATE 1-ConocoPhillips sells stake in JV with Rosneft, exits Russia

Conocophillips CEO Ryan Lance speaks during an interview with Maria Bartiromo, for her Fox Business Network show ''Opening Bell with Maria Bartiromo'' in New York April 8, 2015. U.S. oil and natural gas producer ConocoPhillips has sold its 50 percent stake in a joint venture with Russian state oil company Rosneft, a ConocoPhillips spokesman said.
Tags: New York, Russia, ConocoPhillips, Fox Business Network, Rosneft, Maria Bartiromo, Ryan Lance

More Houston companies likely to follow Conoco's constrained spending

Houston-based ConocoPhillips' (NYSE: COP) Chairman and CEO Ryan Lance told Reuters on Monday that the company will maintain its current lowered capital expenditures for three more years, regardless of what happens to oil prices in the meantime, and it's very likely that we'll see similar forecasts from other Houston companies. Three years seems to be the magic timeframe as analysts predict that the price of Brent crude will stay under $80 per barrel until 2018 and West Texas Intermediate will s...
Tags: Houston, Reuters, Conoco, Ryan Lance, ConocoPhillips NYSE

U.S. oil giants want Congress to lift export ban on crude

"We shouldn't put domestic producers at a competitive disadvantage by limiting the available markets," Ryan Lance, CEO of Texas-based ConocoPhillips, told the U.S. Chamber of Commerce on Tuesday. Scott Sheffield, CEO of Pioneer Natural Resources, also based in Texas, was making the same push Tuesday in front of the House Subcommittee on Energy and Power, arguing the industry's struggles with low oil prices are worsened because companies aren't allowed to ship American crude oil to foreign nation...
Tags: Texas, Congress, ConocoPhillips, Ryan Lance, House Subcommittee on Energy and Power

Where’s the upside in $60 oil?

Boom times for two-product strategies? Can feed markets offer relief for the challenges on the fuel side? The Digest investigates. The energy industry continues to feel the impact of falling energy prices. In Wednesday’s Top Story, we noted that the industry conversation has shifted from long-term fundamentals to a form of “oil price watching” — not even the short-term fundamentals, but the kind of paralyzed ticker watching, waiting for the bottom, that comes during stock market crashes. ...
Tags: Oil, Top Stories, Iowa, Michigan, EIA, Ethanol, Chevron, ConocoPhillips, Omega, Bakken, DuVernay, Barron, Ryan Lance, Eagle Ford, BP Shell, Digesterati