ConocoPhillips(COP) - 2025 Q2 - Earnings Call Presentation

Financial Highlights - ConocoPhillips reported adjusted earnings of $1.793 billion in 2Q25, compared to $2.329 billion in 2Q24[25] - The adjusted EPS was $1.42 in 2Q25[6] - Cash from operations (CFO) was $4.7 billion in 2Q25[6] - Free cash flow (FCF) was $1.4 billion in 2Q25[6] - The company had an ending cash balance of $5.7 billion in 2Q25[6] - The company remains on track to distribute about 45% of full-year CFO to shareholders[6] Production and Sales - 2Q25 production averaged 2,391 MBOED, exceeding the high end of the guidance range (2,340 – 2,380 MBOED)[6] - An agreement to sell Anadarko Basin assets for $1.3 billion in proceeds was announced[6] - Full-year production midpoint remains unchanged, even with the announced Anadarko sale[6] - The company expects APLNG full-year distributions of $0.8 billion, with $0.5 billion in 3Q and $0.1 billion in 4Q[43] Marathon Oil Integration and Synergies - Marathon Oil integration is complete, with >25% increase in low cost of supply resource[8] - >$1 billion of synergies are on track, plus >$1 billion one-time benefits[8] - ~30% fewer rigs and frac crews are delivering more combined production[8] - >$2.5 billion of announced asset sales ahead of schedule, with $5 billion of total asset sales now expected[8] - >$7 billion of incremental FCF is expected by 2029[8]