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Jun 30, 2020
ConocoPhillips Q2 2020 Earnings Report
ConocoPhillips reported mixed results due to weak realized prices and production curtailments, but underlying business remained strong.
Key Takeaways
ConocoPhillips reported second-quarter 2020 earnings of $0.3 billion, or $0.24 per share. Adjusted earnings were a loss of $1.0 billion, or ($0.92) per share. Production excluding Libya was 981 MBOED after curtailments of approximately 225 MBOED.
Ended the quarter with $7.2 billion in cash and short-term investments.
Produced 981 MBOED excluding Libya during the second quarter; curtailed approximately 225 MBOED.
Completed the Australia-West divestiture, generating $0.8 billion in proceeds.
Distributed $0.5 billion in dividends.
Forward Guidance
Given ongoing variability and uncertainty in the outlook for production curtailments, the company will continue to suspend forward-looking guidance and sensitivities.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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