ConocoPhillips and its partners have identified gas-bearing zones at the Essington-1 exploration well, located in the Otway Basin within the VIC/P79 exploration permit offshore Victoria, Australia. The drilling at the well started on 1 November 2025 using the Transocean Equinox rig and was part of the Otway exploration drilling programme. The exploration well reached its planned total depth of 2,735m measured depth rotary table (MDRT) without incident. Wireline logging indicated the presence of gas in b ...

Key Takeaways COP's Essington-1 well found gas columns across two target zones off Victoria's coast.Drilling began Nov. 1 and will continue before COP moves to a second well in December.The six-well campaign aims to confirm a major gas resource for Australia's east coast supply.ConocoPhillips (COP) , a leading upstream energy company, has reported that its exploration efforts offshore southeastern Australia have yielded encouraging results, as the company encountered natural gas in the region. Per Reuters, ...

ConocoPhillips has made a natural gas discovery in the Otway Basin off the Australian coast, the company said today, adding that the reserves tapped and their commercial viability have yet to be estimated. “The Essington-1 well is the first discovery in the Otway since 2021 and is a promising start to ConocoPhillips’ exploration activities in the region. The initial results are encouraging, and we look forward to continuing drilling our second exploration well in December,” the president of Conoco’s Austr ...

格隆汇11月17日｜石油巨头康菲石油公司周一称，在11月1日开始首次勘探钻井后，该公司在澳大利亚 东南部沿海发现了天然气。 有线测井记录显示，维多利亚州沿海的两个目标出现了气柱。在进入第二 口勘探井之前，钻探工作还将继续两周，目的是证明存在可供应澳大利亚东海岸市场的大量天然气资 源。该公司的国家总裁 Jan-Arne Johansen 称这一发现令人鼓舞，并表示这是该地区四年来的首次。他 在一份声明中说："我们期待着在 12 月份继续钻探第二口勘探井。" ...

Oil giant ConocoPhillips said on Monday it had struck gas off the coast of southeastern Australia after beginning its maiden exploration drilling on November 1. Wireline logs indicated gas columns across two targets off the coast of Victoria state. ...

Group 1 - Timing and timelines are crucial factors in investing, particularly relevant for ConocoPhillips (COP) [1] - ConocoPhillips is well-positioned for long-term growth in the industry [1]

Group 1 - Timing and timelines are crucial factors in investing, particularly relevant for ConocoPhillips (COP) [1] - ConocoPhillips is well-positioned for long-term growth in the industry [1]

Core Insights - ConocoPhillips (COP) reported better-than-expected third-quarter earnings, leading to a 4.2% increase in its stock price [1][8] - The company's oil-equivalent production exceeded forecasts, primarily driven by strong performance in its upstream operations [1][8] Upstream Business of ConocoPhillips - ConocoPhillips has a significant presence in the United States' upstream oil and natural gas sector, particularly in the Lower 48 regions, which include the Delaware Basin, Midland Basin, and Bakken [2] Q3 Production Performance - Total production averaged 2,399 thousand barrels of oil equivalent per day (MBoe/d), an increase from 1,917 MBoe/d in the same quarter last year, and above the estimate of 2,342.9 MBoe/d [3] - Crude oil production rose to 1,146 thousand barrels per day (MBbls/d) from 957 MBbls/d year-over-year [3] Natural Gas and Other Production Metrics - Natural gas liquids production reached 436 MBbls/d, up from 310 MBbls/d a year ago, while bitumen production increased to 123 MBbls/d from 87 MBbls/d [4] - Natural gas production was 4,167 million cubic feet per day (MMcf/d), higher than the previous year's 3,381 MMcf/d [4] Price Realization Trends - The average realized oil equivalent price fell to $46.44 per barrel from $54.18 a year ago, with the average realized crude oil price decreasing to $66.13 per barrel from $76.77 [5] - The average realized natural gas price was $4.28 per thousand cubic feet, down from $4.42, and natural gas liquids price decreased to $19.20 per barrel from $21.93 [6] Industry Context - Other energy majors, such as Exxon Mobil Corporation (XOM) and Chevron Corporation (CVX), also reported earnings that exceeded expectations during the same earnings season [7]

Group 1 - iREIT+HOYA Capital focuses on income-producing asset classes that provide sustainable portfolio income, diversification, and inflation hedging [1][2] - The investment group targets high-yield, dividend growth opportunities, with portfolios aiming for dividend yields up to 10% [2] - The service offers research on various investment vehicles including REITs, ETFs, closed-end funds, preferred stocks, and dividend champions [2]

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