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...ConocoPhillips promised to keep showering returns on shareholders as it joined the roll-call of oil companies to report bumper 2023 earnings....
...Strong profits among oil companies have helped drive a wave of mergers and acquisitions....
...The most obvious answer is ConocoPhillips, which was beaten by Diamondback Energy this weekend in the $26bn race to snap up Endeavor Energy Resources....
...That means the music can only play so long for the remaining shale consolidators such as ConocoPhillips....
...Diamondback Energy has agreed to buy Endeavor Energy Resources in a $26bn deal, beating ConocoPhillips in a race for one of America’s most sought-after private oil producers....
...The move will pile pressure on those such as ConocoPhillips that have yet to secure their own deal....
...With a market capitalisation of nearly $120bn, NextEra ranks as the fourth-biggest US energy group after oil companies ExxonMobil, Chevron and ConocoPhillips....
...The Barossa Project is a crucial development for Santos, the A$24bn ($15.7bn) Adelaide-based company that traces its roots to the 1950s....
...The collective market capitalisation of the group — comprising ExxonMobil, Chevron, ConocoPhillips, EOG, Pioneer Natural Resources, Occidental Petroleum, Hess, Devon Energy, Diamondback Energy and Coterra...
...On to today’s newsletter, Myles spoke to ConocoPhillips’ chief executive, who says Biden is still no ally of the oil industry, even after approving the company’s big Alaskan oil project....
...The research company noted that groups including BP, Saudi Aramco, ConocoPhillips, Japanese energy companies and Gina Rinehart’s Hancock Prospecting had all invested in Australia’s LNG sector over the course...
...The company is expected to report stronger sales and profits in the three months to September compared with the same quarter last year....
...The majority of shareholders at oil producer ConocoPhillips and refiner Phillips 66 also backed similar Follow This resolutions in 2021....
...Phillips 66 was formed in 2012 through a spin-off of oil producer ConocoPhillips’ downstream assets. It is one of the biggest western refining companies, with 12 plants spread across the US and Europe....
...Contiguous acreage would allow the companies to take an axe to costs....
...It also names ConocoPhillips, Chevron and the American Petroleum Institute as defendants....
...None of the oil majors participated in the original lease sale, and two of the nine sold leases were already refunded at the request of the companies prior to Wednesday’s announcement....
...This year the oil company decided it had had enough. 4....
...Many felt let down after the administration gave a greenlight to ConocoPhillips’ Willow oil project on federal land in Alaska last year....
...Several big players in the US shale patch including ConocoPhillips, Devon Energy and Pioneer Natural Resources — which Exxon agreed to buy last month for $60bn — joined the programme in 2022....
...Key economic and company reports Here is a more complete list of what to expect in terms of company reports and economic data this week....
...Energy stocks were among the worst performers in the S&P 500 stock index, with ConocoPhillips, ExxonMobil and Chevron dropping 4.7 per cent, 4.2 per cent and 2.9 per cent, respectively....
...This week has seen BP follow ExxonMobil and Chevron in reporting the second-highest annual profits in more than a decade, as has ConocoPhillips, the world’s biggest independent oil producer....
...Ryan Lance, ConocoPhillips chief executive, called the government approval “the right decision for Alaska and our nation”....
...At Goldman, Brian Haufrect, co-head of M&A in the Americas, is a seasoned adviser to energy groups including Occidental Petroleum, ConocoPhillips and Shell....
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