COP

EX-99.1

2 cop-20261105x8kexx991.htm

EX-99.1

Document

Exhibit 99.1

ConocoPhillips announces third-quarter 2026 results and increases quarterly ordinary dividend by 11%

•Reported third-quarter 2026 earnings per share of $3.34 and adjusted earnings per share of $3.27.

•Generated cash provided by operating activities and cash from operations (CFO) of $7.2 billion.

•Increased shareholder distributions to $3.4 billion, including $2.4 billion of share repurchases; on track for 45% return of CFO in 2026.

•Raised quarterly ordinary dividend by 11% to $0.93 per share, consistent with top-quartile S&P 500 growth objective.

HOUSTON—Nov. 5, 2026—ConocoPhillips (NYSE: COP) today reported third-quarter 2026 earnings of $4.0 billion, or $3.34 per share, compared with third-quarter 2025 earnings of $1.7 billion, or $1.38 per share. Excluding special items, third-quarter 2026 adjusted earnings were $3.9 billion, or $3.27 per share, compared with third-quarter 2025 adjusted earnings of $2.0 billion, or $1.61 per share. Special items for the quarter primarily reflect the reversal of a tax reserve.

“ConocoPhillips is continuing to execute our differential strategy, with strong operational and financial performance across the portfolio,” said Andy O’Brien, president and chief executive officer. “We’re capturing efficiencies across our best-in-class Lower 48 assets, growing our strategic commercial LNG offtake portfolio and advancing Willow critical path items. We strengthened our balance sheet and continued progress toward our 45% return of CFO target for 2026, including increasing our ordinary dividend at a top-quartile S&P 500 growth rate. We also remain on track to deliver a peer-leading $7 billion free cash flow inflection by 2029. Importantly, 2029 is not the endpoint. Our differentiated value proposition, underpinned by the deepest, highest-quality upstream portfolio in the sector, positions us to deliver continued CFO and free cash flow growth at an advantaged reinvestment rate well into the next decade.”

Third-quarter highlights

•Delivered total company and Lower 48 production of 2,302 thousand barrels of oil equivalent per day (MBOED) and 1,517 MBOED, respectively.

•Distributed $3.4 billion to shareholders, consisting of $2.4 billion through share repurchases and $1.0 billion through the ordinary dividend.

•Advanced Willow critical path items with module fabrication scope over 75% complete; on track for first oil in early 2029.

•Realized record Permian completion efficiency with 15% more pumping hours than prior year average.

•Achieved first production ahead of schedule and under budget at Surmont Pad 104W-B in Canada.

•Expanded commercial LNG offtake portfolio to 13 MTPA.

•Ended the quarter with cash and short-term investments of $10.4 billion and long-term investments of $1.1 billion.

Quarterly dividend increase

ConocoPhillips raised its quarterly ordinary dividend by 11% to $0.93 per share, effective with the fourth-quarter dividend, payable Dec. 1, 2026, to stockholders of record at the close of business on Nov. 16, 2026.

ConocoPhillips announces third-quarter 2026 results and increases quarterly ordinary dividend by 11%

Third-quarter review

Production for the third quarter of 2026 was 2,302 MBOED, a decrease of 97 MBOED from the same period a year ago. After adjusting for closed acquisitions and dispositions, third-quarter 2026 production decreased 40 MBOED or 2% from the same period a year ago. Organic growth from Lower 48 was more than offset by the impact of the Middle East conflict on Qatar and higher Surmont royalties.

Lower 48 delivered production of 1,517 MBOED, including 757 MBOED from the Delaware Basin, 197 MBOED from the Midland Basin, 369 MBOED from the Eagle Ford and 191 MBOED from the Bakken.

Earnings and adjusted earnings increased from the third quarter of 2025, primarily due to higher prices, partially offset by lower volumes. The company’s total average realized price was $61.40 per BOE, 32% higher than the $46.44 per BOE realized in the third quarter of 2025.

For the quarter, cash provided by operating activities and CFO were $7.2 billion. In addition, ConocoPhillips received $1.6 billion of disposition proceeds from the sale of noncore assets. The company funded $3.1 billion of capital expenditures and investments, repurchased $2.4 billion of shares, and paid $1.0 billion in ordinary dividends.

Outlook

Fourth-quarter 2026 production is expected to be 2.32 to 2.36 million barrels of oil equivalent per day. Full-year capital expenditures and adjusted operating cost guidance remain unchanged. Additional guidance items can be found on slide 11 of the company’s third-quarter 2026 earnings presentation, available on the company’s investor relations website.

ConocoPhillips will host a conference call today at 12:00 p.m. Eastern time to discuss this announcement. To listen to the call and view related presentation materials and supplemental information, go to www.conocophilli

EX-99.1

2 cop-20260806x8kexx991.htm

EX-99.1

Document

Exhibit 99.1

ConocoPhillips announces second-quarter 2026 results and quarterly dividend

•Reported second-quarter 2026 earnings per share of $3.23 and adjusted earnings per share of $3.24.

•Generated cash provided by operating activities of $7.4 billion and cash from operations (CFO) of $7.2 billion.

•Doubled share repurchases in the second quarter, increasing total shareholder distributions to $3.0 billion; on track for 45% return of CFO in 2026.

•Declared third-quarter ordinary dividend of $0.84 per share.

•Reaffirmed full-year guidance items.

HOUSTON—Aug. 6, 2026—ConocoPhillips (NYSE: COP) today reported second-quarter 2026 earnings of $3.9 billion, or $3.23 per share, compared with second-quarter 2025 earnings of $2.0 billion, or $1.56 per share. Excluding special items, second-quarter 2026 adjusted earnings were $4.0 billion, or $3.24 per share, compared with second-quarter 2025 adjusted earnings of $1.8 billion, or $1.42 per share.

“ConocoPhillips delivered strong second-quarter results with exceptional operational performance, record production from our peer-leading Permian position and disciplined execution across the business, all while continuing to progress our strategic priorities,” said Ryan Lance, chairman and chief executive officer. “We doubled our quarterly share repurchases, achieved our $5 billion asset disposition target ahead of schedule, secured low cost of supply opportunities in the Middle East, and increased our LNG offtake to 12 MTPA. We are executing well, delivering on our strategy, and remain on track to achieve our $7 billion free cash flow inflection by 2029.”

Second-quarter highlights and recent announcements

•Delivered total company and Lower 48 production of 2,248 thousand barrels of oil equivalent per day (MBOED) and 1,479 MBOED, respectively.

•Increased shareholder distributions to $3.0 billion, including $2.0 billion through share repurchases and $1.0 billion through the ordinary dividend.

•Signed agreements to sell noncore Lower 48 assets for $1.7 billion, which closed in July, achieving $5 billion disposition target ahead of schedule.

•Signed an agreement to acquire a 42% interest in a joint venture in the Kirkuk area of northern Iraq, accessing long-life, conventional redevelopment opportunities at an attractive entry cost and competitive cost of supply; closing expected by year-end 2026.

•Executed an agreement for re-entry into Syria, leveraging existing infrastructure to restore and increase production at onshore fields.

•Advanced commercial LNG strategy with additional 2 million tonnes per annum (MTPA) of offtake agreements, bringing total LNG offtake to 12 MTPA.

•Ended the quarter with cash and short-term investments of $8.1 billion and long-term investments of $1.2 billion.

Quarterly dividend

ConocoPhillips declared a third-quarter ordinary dividend of $0.84 per share, payable Sept. 1, 2026, to stockholders of record at the close of business on Aug. 17, 2026.

Second-quarter review

ConocoPhillips announces second-quarter 2026 results and quarterly dividend

Production for the second quarter of 2026 was 2,248 MBOED, a decrease of 143 MBOED from the same period a year ago. After adjusting for closed acquisitions and dispositions, second-quarter 2026 production decreased 98 MBOED or 4% from the same period a year ago. Organic growth from Lower 48 was more than offset by the impact of the Middle East conflict on Qatar and higher Surmont royalties.

Lower 48 delivered production of 1,479 MBOED, including 720 MBOED from the Delaware Basin, 202 MBOED from the Midland Basin, 363 MBOED from the Eagle Ford and 189 MBOED from the Bakken.

Earnings and adjusted earnings increased from the second quarter of 2025, primarily due to higher prices. The company’s total average realized price was $62.33 per BOE, 36% higher than the $45.77 per BOE realized in the second quarter of 2025.

For the quarter, cash provided by operating activities was $7.4 billion. Excluding a change in working capital, ConocoPhillips generated CFO of $7.2 billion. In addition, ConocoPhillips received $0.2 billion of disposition proceeds from the sale of noncore assets. The company funded $3.0 billion of capital expenditures and investments, repurchased $2.0 billion of shares, and paid $1.0 billion in ordinary dividends.

Six-month review

ConocoPhillips’ six-month 2026 earnings were $6.1 billion, or $5.00 per share, compared with six-month 2025 earnings of $4.8 billion, or $3.79 per share. Six-month 2026 adjusted earnings were $6.3 billion, or $5.13 per share, compared with six-month 2025 adjusted earnings of $4.5 billion, or $3.52 per share.

Production for the first six months of 2026 was 2,278 MBOED, a decrease of 113 MBOED from the same period a year ago. After adjusting for closed acquisitions and dispositions, production decreased 57 MBOED or 2% from the same period a year ago. Organic growth from Lower 48 was more than offse

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