Wedoany.com Report-Nov. 8, ConocoPhillips reported $2.01 billion in net income, adjusted for nonrecurring items, for Q3 2025, slightly below $2.08 billion in the same period last year, reflecting lower commodity prices. Adjusted earnings per share reached $1.61, exceeding the Zacks Consensus Estimate of $1.40. Reported net profit was $1.73 billion, or $1.38 per share, down from $2.06 billion in Q3 2024. The company announced an eight percent increase in its base dividend to $0.84 per share.

ConocoPhillips reported $2.01 billion in net income adjusted for nonrecurring items for the third quarter, down from $2.08 billion for the same three-month period last year on lower prices.

The Houston-based energy company noted that lower prices were partially offset by the benefits of the Marathon Oil acquisition and higher underlying production volumes. ConocoPhillips completed its $22.5-billion acquisition of Marathon Oil in Q4 2024, expanding its operations in the Delaware Basin, Bakken, and Eagle Ford shale regions.

Net production for Q3 2025 averaged 2.4 million barrels of oil equivalent per day (MMboed), up from 1.92 MMboed in Q3 2024. Production from the U.S. Lower 48 totaled 1.53 MMboed, up from 1.15 MMboed last year. Crude oil output averaged 1.15 million barrels per day (MMbpd), bitumen 123,000 bpd, natural gas 4.17 billion cubic feet per day, and natural gas liquids 436,000 bpd. ConocoPhillips said adjusted for acquisitions and dispositions, production rose 83 thousand boed, or four percent, from Q3 2024. The company also increased its full-year production guidance from 2.35–2.37 MMboed to 2.375 MMboed.

Sales and other operating revenues reached $15.03 billion, up from $13.04 billion a year earlier. Operating activities generated $5.9 billion in cash. ConocoPhillips has divested more than $3 billion of assets in 2025 toward a $5-billion year-end target. Q3 proceeds included $300 million from non-core asset sales and a $1.3-billion sale of Anadarko Basin assets completed last month.

At the end of Q3, the company held $5.26 billion in cash and cash equivalents and $996 million in short-term investments, with $1.02 billion in short-term debt and $1.94 billion in accrued taxes.

Chair and CEO Ryan Lance commented on 2026 expectations: “Looking to 2026, we expect lower capital and operating costs with flat to modest production growth. Willow total project capital is updated to $8.5 to $9 billion, with total LNG project capital reduced to $3.4 billion.” He added, “Powered by our deep, durable and diverse portfolio, we remain on track to deliver an expected $7 billion in incremental free cash flow by 2029, including $1 billion each year from 2026 through 2028.”

ConocoPhillips’ performance reflects the combined impact of expanded production capacity from acquisitions, disciplined cost management, and ongoing asset divestitures, positioning the company for stable cash flow and continued investment in key growth projects.