ConocoPhillips announced second-quarter 2024 earnings of $2.3 billion, or $1.98 per share, compared to $2.2 billion, or $1.84 per share, in Q2 2023. The company generated $4.9 billion in cash from operating activities and $5.1 billion in cash from operations.Production reached a record 1,945 MBOED, up 4% year-over-year on a pro forma basis. Lower 48 production hit 1,105 MBOED, with the Permian Basin contributing 748 MBOED. The company declared a $0.58 ordinary dividend and $0.20 variable return of cash per share for Q3, payable September 3.For full-year 2024, ConocoPhillips narrowed its production guidance to 1.93-1.94 MMBOED and increased capital expenditure guidance to $11.5 billion. The company remains committed to returning at least $9 billion to shareholders in 2024 and expects to close its acquisition of Marathon Oil in late Q4.

ConocoPhillips announced second-quarter 2024 earnings of $2.3 billion, or $1.98 per share, compared to $2.2 billion, or $1.84 per share, in Q2 2023. The company generated $4.9 billion in cash from operating activities and $5.1 billion in cash from operations.Production reached a record 1,945 MBOED, up 4% year-over-year on a pro forma basis. Lower 48 production hit 1,105 MBOED, with the Permian Basin contributing 748 MBOED. The company declared a $0.58 ordinary dividend and $0.20 variable return of cash per share for Q3, payable September 3.For full-year 2024, ConocoPhillips narrowed its production guidance to 1.93-1.94 MMBOED and increased capital expenditure guidance to $11.5 billion. The company remains committed to returning at least $9 billion to shareholders in 2024 and expects to close its acquisition of Marathon Oil in late Q4.