Form 10-Q · Quarterly report
ConocoPhillips 10-Q, filed Aug 6, 2026
- Filed
- CIK
- 0001163165
- Accession no.
- 0001163165-26-000032
Summary
ConocoPhillips reported second-quarter 2026 production of 2,248 MBOED, down 143 MBOED from a year earlier, earnings of $3.23 per share, $7.4 billion of cash from operating activities and $3.0 billion returned to shareholders, while reaffirming its full-year guidance and guiding third-quarter production to 2.29–2.32 MMBOED. The company said it closed $1.7 billion of noncore Lower 48 asset sales, completing a $5 billion disposition target, and agreed with a BP subsidiary to acquire a 42% interest in a non-operated joint venture redeveloping four producing oil fields in the Kirkuk area of northern Iraq, a deal expected to close by year-end 2026 for $0.3–0.5 billion at close plus $0.2 billion in deferred payments.
Key points
- ConocoPhillips declared a third-quarter ordinary dividend of $0.84 per share and reaffirmed all full-year guidance items.
- The company signed an agreement with the Syrian government and Syrian Petroleum Company in June 2026 to increase production from and further develop certain gas fields in Syria.
- Commercial LNG offtake agreements signed in the second quarter of 2026 expanded ConocoPhillips' offtake from 10.2 MTPA to 12.2 MTPA.
- ConocoPhillips said Middle East supply disruptions that began in the first quarter of 2026 persisted through the second quarter, when Brent averaged $104.52 per barrel versus $67.82 a year earlier and its realized crude price rose 55%.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
From the filing
Item 2. Management’s Discussion Overview At ConocoPhillips, we anticipate that commodity prices will continue to be cyclical and volatile, and our view is that a successful business strategy in the E&P industry must be resilient in lower price environments while also retaining upside during periods of higher prices. As such, we are unhedged, remain committed to our disciplined investment framework and continually monitor market fundamentals, including the impacts associated with geopolitical tensions and conflicts, global demand for our products, oil and gas inventory levels, governmental policies, tariffs, inflation and supply chain disruptions. …
An excerpt of the text as filed with the SEC, cut for length.
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