ConocoPhillips Q3 Net Profit Up 135% on Strong Realized Prices


   
   SECAUCUS, NJ (DTN) - ConocoPhillips more than doubled its net profit 
year-on-year in the third quarter of 2026, helped by higher average realized 
prices for crude oil and natural gas despite lower production volumes, the 
company reported Thursday (11/5).

   Net profit jumped 132% to $4.0 billion from $1.7 billion in the third 
quarter of 2025; in the second quarter of 2026, it was $3.9 billion.

   The average realized price of crude for the third quarter of this year was 
$61.40 per barrel of oil equivalent (BOE), an increase of 32% from the $46.44 
per BOE realized a year ago.

   Adjusted earnings for the profiled quarter was $3.9 billion, versus $2.0 
billion from the year prior.

   Quarterly production averaged 2.302 million BOE per day (BOE/d), down 97,000 
BOE/d from the third-quarter 2025 levels due to Middle East conflict 
disruptions impacting Qatar and also higher Surmont royalties.

   The Lower 48 operations delivered 1.517 million BOE/d, supported by strong 
performance and record completion efficiency across key domestic shales.

   For the fourth quarter, Conoco is targeting a production of between 2.32 
million BOE/d and 2.36 million BOE/d, while keeping unchanged its guidance on 
full-year capital expenditure and adjusted operating costs.




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