Recent drilling activity shows glimmers of hope but underscores how little has been done in recent years. The first offshore hydrocarbon exploration well since 2023 – Chevron’s Deep 1 and Dino South 1 – was drilled only in May 2025. In November, ConocoPhillips, alongside 3D Energi and Korea National Oil Corporation, spudded its first well under the Otway Basin Program near shores of Victoria province (53 km offshore from Port Campbell, 12 km from existing gas production wells), a government-funded initiativ ...

From tech to Hollywood, retailers and utilities, U.S. companies are intensifying job cuts and workforce reductions that began in 2024, as they focus on cost savings and leaner operations amid a challenging economic environment. Employers slashed more than 150,000 jobs in October, the largest wave of layoffs in more than 20 years, a report from Challenger, Gray & Christmas said Nov. 6. Firms have pointed to a myriad of causes for their layoffs, from AI to tariffs and corporate restructuring. "Some indust ...

ConocoPhillips Inc. (COP) raised its dividend per share (DPS) by 7.7% to $3.36 annually. That gives COP stock a 3.84% annual yield. That is well over its historical average, implying COP could be worth 24% more. One way to play it is to short out-of-the-money put options. COP closed down Thursday, Nov. 20, to $87.47. That is lower than its recent peak of $91.37, which occurred on Nov. 14. That was a week after it released Q3 results on Nov. 6, along with the dividend hike. More News from Barchart COP sto ...

The Syrian Petroleum Company, U.S.-based ConocoPhillips and Novaterra have signed a memorandum of understanding to expand cooperation in the natural gas sector, Syria's energy ministry said on Tuesday... ...

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, ...

Group 1 - ConocoPhillips has made a natural gas discovery in the Otway Basin off the Australian coast, with reserves and commercial viability yet to be estimated [1] - The Essington-1 well marks the first discovery in the Otway since 2021, indicating a promising start to ConocoPhillips' exploration activities in the region [2] - ConocoPhillips holds a 51% stake in the Otway Basin project, partnering with Korea National Oil Corporation and Australian 3DEnergi, having joined the drilling project in 2019 [3] Group 2 - ConocoPhillips operates Australia Pacific LNG in partnership with Origin Energy and China's CNOOC, which is the largest LNG production site in eastern Australia, supplying nearly one-third of the region's natural gas [4] - The Australian Domestic Gas Security Mechanism aims to ensure sufficient natural gas for local consumers, but has faced criticism for not improving outcomes for gas users [5]

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]