Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nyse  >  ConocoPhillips    COP

CONOCOPHILLIPS

(COP)
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsAnalyst Recommendations

ConocoPhillips : to Shed U.K. Oil Exploration Business

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/18/2019 | 09:20am EDT

By Micah Maidenberg

ConocoPhillips is exiting the oil exploration and production market in the U.K. after reaching a deal to sell two units that focus on production in the North Sea to Chrysaor E&P Ltd. for about $2.68 billion.

"This disposition is part of our ongoing effort to hone our portfolio and focus our investments across future low cost of supply opportunities, " ConocoPhillips Chief Executive Ryan Lance said in prepared remarks.

ConocoPhillips will continue operating a London-based trading business and keep its 40.25% interest in the Teesside oil terminal.

The U.S. oil giant said the U.K. subsidiaries last year produced 72,000 barrels of oil equivalent per day and had proven reserves of 99 million barrels of oil equivalent at year-end.

Closely held Chrysaor was formed in 2007 and focuses on oil and gas in the North Sea.

"This significant acquisition reflects our continuing belief that the U.K. North Sea has material future potential for oil and gas production, " Chrysaor Chief Executive Phil Kirk said in prepared remarks.

The sale is expected to be completed in the second half of this year.

Write to Micah Maidenberg at micah.maidenberg@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
CONOCOPHILLIPS -5.63% 59.5 Delayed Quote.-4.57%
WTI 0.50% 58.43 Delayed Quote.38.26%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on CONOCOPHILLIPS
05/23Energy ETFs Follow Oil Prices Lower
DJ
05/22CONOCOPHILLIPS : Exploration closing branch in Azerbaijan
AQ
05/22CONOCOPHILLIPS : Premier Aurora oil and gas operator agreement gets 1 thumbs up,..
AQ
05/20CONOCOPHILLIPS : to Hold Second-Quarter Earnings Conference Call on Tuesday, Jul..
BU
05/16CONOCOPHILLIPS : Submission of Matters to a Vote of Security Holders (form 8-K)
AQ
05/14ConocoPhillips will not chase expensive Permian deals, CEO says
RE
05/10CONOCOPHILLIPS : LME appoints first chairwoman in its history
RE
05/10CONOCOPHILLIPS : Ex-dividend day for
FA
05/09New Colorado environmental law stalls oil investment
RE
05/03CONOCOPHILLIPS : Grows 'Big 3' Lower 48 Production by 30%
AQ
More news
Financials ($)
Sales 2019 38 509 M
EBIT 2019 9 486 M
Net income 2019 5 679 M
Debt 2019 5 530 M
Yield 2019 2,09%
P/E ratio 2019 12,53
P/E ratio 2020 13,07
EV / Sales 2019 1,89x
EV / Sales 2020 1,83x
Capitalization 67 245 M
Chart CONOCOPHILLIPS
Duration : Period :
ConocoPhillips Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends CONOCOPHILLIPS
Short TermMid-TermLong Term
TrendsBearishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 80,1 $
Spread / Average Target 35%
EPS Revisions
Managers
NameTitle
Ryan M. Lance Chairman & Chief Executive Officer
Matthew J. Fox Chief Operating Officer & Executive Vice President
Donald Evert Wallette Chief Financial Officer & Executive Vice President
Harald Johan Norvik Independent Director
Robert A. Niblock Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
CONOCOPHILLIPS-4.57%67 245
CNOOC LTD7.89%75 739
EOG RESOURCES INC.1.88%53 918
OCCIDENTAL PETROLEUM CORPORATION-14.01%39 473
ANADARKO PETROLEUM64.94%36 308
CANADIAN NATURAL RESOURCES LTD11.29%32 069