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Dec 31, 2023
ConocoPhillips Q4 2023 Earnings Report
ConocoPhillips reported fourth-quarter earnings, which decreased due to lower prices, partially offset by increased volumes and benefits from special items including the reversal of a tax reserve.
Key Takeaways
ConocoPhillips reported fourth-quarter 2023 earnings of $3.0 billion, or $2.52 per share. Production for the fourth quarter of 2023 was 1,902 MBOED, an increase of 144 MBOED from the same period a year ago. The company’s total average realized price was $58.21 per BOE, 18% lower than the $71.05 per BOE realized in the fourth quarter of 2022.
Fourth-quarter 2023 earnings were $3.0 billion, or $2.52 per share.
Adjusted earnings were $2.9 billion, or $2.40 per share.
Production for the fourth quarter of 2023 was 1,902 MBOED.
The company’s total average realized price was $58.21 per BOE.
Forward Guidance
The company’s 2024 total capital expenditure guidance is $11.0 to $11.5 billion. The company’s 2024 production guidance is 1.91 to 1.95 million barrels of oil equivalent per day (MMBOED). First-quarter 2024 production is expected to be 1.88 to 1.92 MMBOED.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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