Re-posting.
Locator: 44370B.
COP: link here.
- ConocoPhillips unveiled a 10-year plan Wednesday, April 12, 2023, that envisions more than $115B of free cash flow available for distributions and capital spending averaging ~$10B annually, resulting in a 4%-5% production compound annual growth rate at an average reinvestment rate of ~50%.
- The plan foresees durable cash flow growth with projected cash from operations and FCF compounded annual growth rate of ~6% and 11%, respectively, and return on capital employed increasing at least one percentage point annually.
- Conoco said it will seek a resource base of 20B boe at less than $40/bbl WTI, representing a resource life of more than 30 years at current production levels.
- The company also pledged to speed up its greenhouse gas intensity reduction target through 2030 by 10% to a range of 50%-60% using a 2016 baseline.
- ConocoPhillips (COP) is expected to provide shareholders with almost 5% in annualized dividends and share buybacks, generating strong shareholder returns
See this post on the blog before the above-story was posted today.
For oil companies to attract 'mom-and-pop" traders / investors from ESG 'mojo' stocks, oil companies are going to have to make their shares irresistible.
COP, link here.
April 14, regular dividend pay-date:
- last year: 30 cents / share;
- this year, that has been doubled to 60 cents / share;
Through, April 14, COP has paid:
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