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Capital Return

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finance1 year ago

"ConocoPhillips Surpasses Profit Forecasts with Record Production in Q4 2023"

ConocoPhillips reported fourth-quarter 2023 earnings of $3.0 billion, with full-year 2023 earnings at $11.0 billion. The company achieved record production and a preliminary reserve replacement ratio of 123%. ConocoPhillips plans to return $9 billion to shareholders in 2024 and declared a quarterly ordinary dividend and variable return of cash distribution. The company also progressed its global LNG strategy and enhanced its portfolio through acquisitions and project decisions.