Trump is urging oil companies to dive back into Latin America, but for ConocoPhillips, “the bar's likely higher.”
ConocoPhillips (COP) remains a 'buy' as its unique asset profile and efficiency gains position it for substantial free cash flow growth through 2029. COP targets $12–12.5 billion free cash flow by 2029 at ~$65 oil, driven by project completions, LNG growth, and cost cuts. Despite Willow cost overruns and Venezuela claim uncertainty, COP's balance sheet strength supports robust capital returns and dividend growth.
ConocoPhillips (COP) reached $95.5 at the closing of the latest trading day, reflecting a -2.06% change compared to its last close.
The removal of Maduro and potential U.S. involvement could revamp Venezuela's struggling oil sector, making it easier for U.S. oil companies to do business in the country. Venezuela is believed to have around 300 billion barrels of oil reserves.
The CEOs ExxonMobil and ConocoPhillips told President Donald Trump that Venezuela will need big changes to attract investment. Exxon CEO Darren Woods said Venezuela is "uninvestable" in the country's current state.
ConocoPhillips said on Thursday its Chairman and CEO Ryan Lance will attend a White House meeting on Friday and that it was monitoring developments in Venezuela and their "potential implications for global energy supply and stability."
Venezuela owes ConocoPhillips and ExxonMobil billions of dollars in arbitration claims after it nationalized the oil industry in 2007. Energy Secretary Chris Wright said those claims need to be paid but are not an immediate priority.
ConocoPhillips (COP) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
ConocoPhillips stands to convert a $12B Venezuelan legal claim into near-zero-cost equity stakes in high-producing Orinoco Belt assets. COP is positioned to receive $1.4B in cash from the Citgo auction, providing liquidity for Venezuelan infrastructure investment without tapping domestic cash flow. Re-entry into Venezuela could add up to 500k bpd by 2030, boosting the company's South American production and long-term cash flow potential.
White House and State Department officials have told U.S. oil executives in recent weeks that they would need to return to Venezuela quickly and invest significant capital in the country to revive the damaged oil industry if they wanted compensation for assets expropriated by Venezuela two decades ago, according to two people familiar with the outreach.
ConocoPhillips hits unexpected gas at Charlemont-1 in Australia's Otway Basin, pausing drilling amid high-pressure conditions at Waarre C.
ConocoPhillips (COP) reached $94.1 at the closing of the latest trading day, reflecting a +1.59% change compared to its last close.