ConocoPhillips has posted lower-than-expected results for its fourth quarter and overall 2025 outlook, with oil prices falling as production increased.
Production for the fourth quarter was 2,320 barrels of oil-equivalent per day (MBOED), up by 137 from Q4 the year before, but struggled against a 19% decrease in the company's average realised price, which dropped to US$42.46.
Adjusted earnings per share for the Texas-based petroleum industry giant came in at $1.02, which fell below the Zacks Consensus Estimate of $1.08. The bottom line decreased from the prior-year level of $1.98.
Total revenue for the quarter was posted at US$14.19 billion, a decline from US$14.74 billion a year earlier.
“Looking ahead, we’re focused on driving a $1 billion reduction in our capital and costs in 2026, while returning 45% of our CFO to shareholders," said Ryan Lance, chairman and chief executive officer.
At the time of reporting, ConocoPhillips (NYSE: COP) was trading down 2.43%, to US$104.98 and maintains a market cap of US$129.73 billion.
