ConocoPhillips Reports Bumper Oil & Gas Profits
The company’s larger U.S. rivals Exxon Mobil and Chevron have also reported strong results , rekindling calls for energy companies to pay more taxes .
Total average realized price was $83.07 per barrel of oil equivalent (boe), ConocoPhillips said, 46% higher compared to a year earlier.
Production was 1.75 million barrels of oil equivalent per day ( boed ), an increase of 210,000 boed from the same period a year ago.
ConocoPhillips also raised its quarterly dividend by 11% and approved a $20 billion increase in the existing share repurchase program.
The Houston, Texas-based company’s net income rose to $4.5 billion, or $3.55 per share , for the three months ended Sept. 30, from $2.4 billion, or $1.78 per share , a year earlier.
The company’s larger U.S. rivals Exxon Mobil and Chevron have also reported strong results, rekindling calls for energy companies to pay more taxes.
Total average realized price was $83.07 per barrel of oil equivalent (boe), ConocoPhillips said, 46% higher compared to a year earlier.
Production was 1.75 million barrels of oil equivalent per day (boed), an increase of 210,000 boed from the same period a year ago.
The Houston, Texas-based company’s net income rose to $4.5 billion, or $3.55 per share, for the three months ended Sept. 30, from $2.4 billion, or $1.78 per share, a year earlier.
