ConocoPhillips reported Q2 2024 earnings of $2.3 billion ($1.98 per share), up from $2.2 billion ($1.84 per share) in Q2 2023. The company achieved record production of 1,945 MBOED, with cash from operations reaching $5.1 billion. During the quarter, the company distributed $1.9 billion to shareholders through share repurchases and dividends.The company announced plans to increase its ordinary dividend by 34% to $0.78 per share starting Q4 2024, incorporating the current VROC of $0.20 per share. Key operational highlights include reaching first production ahead of schedule at Eldfisk North in Norway and advancing the Willow project in Alaska. The company also made progress on its global LNG strategy by signing long-term agreements in Belgium and Asia.For full-year 2024, ConocoPhillips updated its production guidance to 1.93-1.94 MMBOED and increased capital expenditure guidance to $11.5 billion. The previously announced acquisition of Marathon Oil is expected to close in late Q4. The company maintained its commitment to return at least $9 billion of capital to shareholders in 2024.

ConocoPhillips reported Q2 2024 earnings of $2.3 billion ($1.98 per share), up from $2.2 billion ($1.84 per share) in Q2 2023. The company achieved record production of 1,945 MBOED, with cash from operations reaching $5.1 billion. During the quarter, the company distributed $1.9 billion to shareholders through share repurchases and dividends.The company announced plans to increase its ordinary dividend by 34% to $0.78 per share starting Q4 2024, incorporating the current VROC of $0.20 per share. Key operational highlights include reaching first production ahead of schedule at Eldfisk North in Norway and advancing the Willow project in Alaska. The company also made progress on its global LNG strategy by signing long-term agreements in Belgium and Asia.For full-year 2024, ConocoPhillips updated its production guidance to 1.93-1.94 MMBOED and increased capital expenditure guidance to $11.5 billion. The previously announced acquisition of Marathon Oil is expected to close in late Q4. The company maintained its commitment to return at least $9 billion of capital to shareholders in 2024.