COP: 10-Year Plan -- April 12, 2023

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:

• calendar year, 2022: 96 cents
• calendar year, 2023: $1.81