Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

CONOCOPHILLIPS

(COP)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Conoco Reportedly Offers to Sell Some Secondary US Oil Acreage

09/23/2021 | 01:25pm EDT

ConocoPhillips (NYSE:COP) is offering to sell about $500 million in conventional oil and gas properties in the top U.S. oil basin, according to a marketing document seen by Reuters, hoping to unload less valuable acreage after two major shale acquisitions. ConocoPhillips has hired investment bank RBC Capital Markets to handle the upcoming sale, according to a marketing document dated fall 2021. The offer covers lower-value oil and gas producing properties in the Central Basin Platform (CBP) and Northern Shelf formations, spread across west Texas and New Mexico. ConocoPhillips spokesperson Dennis Nuss declined to comment. RBC Capital Markets did not reply to requests for comment. ConocoPhillips has signaled its interest in accelerating divestments after the two shale deals. It plans to divest as much as $5 billion in assets by 2023, with a focus on less productive parts of its Permian portfolio, it said this week. It also has said it aims to sell a stake in some of its Alaskan assets. Its Permian properties were valued at around $500 million, based on proved developed producing (PDP) valuation measures, the marketing document said. Initial bid proposals are due on October 13, 2021. The CBP assets produced about 9,260 barrels of oil and gas per day (boepd), while the Northwest Shelf produced about 3,840 boepd, the document added.


© S&P Capital IQ 2021
All news about CONOCOPHILLIPS
10/22US Oil, Gas Mergers Slow Down Amid Pressure on Government to Help with High Energy Pric..
MT
10/21Aris Water Solutions IPO Prices Below Projected Range at $13
DJ
10/21CONOCOPHILLIPS' ARCTIC OIL PROJECT B : Bloomberg
MT
10/21FIRST OIL : ConocoPhillips' Arctic Oil Project Blocked by Alaska Judge: Bloomberg
MT
10/21U.S. slows down oil and gas mergers-sources
RE
10/21CONOCOPHILLIPS : Partnering to Conserve Key Indicator Species
PU
10/21US Crude Oil Stocks Down Week Over Week as Crude Oil Futures Stay Up, EIA Reports
MT
10/19CONOCOPHILLIPS : Goldman Sachs Raises Price Target on ConocoPhillips to $78 From $76, Main..
MT
10/19CONOCOPHILLIPS : KeyBanc Raises Price Target on ConocoPhillips to $81 from $78, Keeps Over..
MT
10/153D OIL : JV Partner ConocoPhillips Gathering Sequoia 3D Seismic Data at Australia's T/49P ..
MT
More news
Analyst Recommendations on CONOCOPHILLIPS
More recommendations
Financials (USD)
Sales 2021 40 610 M - -
Net income 2021 7 323 M - -
Net Debt 2021 14 611 M - -
P/E ratio 2021 13,6x
Yield 2021 2,32%
Capitalization 101 B 101 B -
EV / Sales 2021 2,86x
EV / Sales 2022 2,65x
Nbr of Employees 10 100
Free-Float 64,1%
Chart CONOCOPHILLIPS
Duration : Period :
ConocoPhillips Technical Analysis Chart | COP | US20825C1045 | MarketScreener
Technical analysis trends CONOCOPHILLIPS
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 28
Last Close Price 75,72 $
Average target price 83,41 $
Spread / Average Target 10,2%
EPS Revisions
Managers and Directors
Ryan M. Lance Chairman & Chief Executive Officer
William L. Bullock Chief Financial Officer & Executive Vice President
Dominic E. Macklon Executive VP-Strategy, Sustainability & Technology
Pragati Mathur Chief Digital & Information Officer
Shannon Weinberg Kinney Secretary & Chief Compliance Officer
Sector and Competitors
1st jan.Capi. (M$)
CONOCOPHILLIPS89.35%101 395
EOG RESOURCES, INC.84.48%53 715
CANADIAN NATURAL RESOURCES LIMITED72.83%50 365
CNOOC LIMITED19.08%49 109
PIONEER NATURAL RESOURCES COMPANY65.67%46 747
OCCIDENTAL PETROLEUM CORPORATION89.49%31 682