ConocoPhillips releases transcript of Q2 2026 earnings call
COP•Q2 earnings call transcript and operating update
ConocoPhillips published a transcript of its Q2 2026 earnings call attended by CEO Ryan Lance, CFO Andy O’Brien, EVP Kirk Johnson, EVP Nick Olds and IR VP Guy Baber.
Lance set a CEO transition for Sept. 1, with O’Brien to become president and CEO; Lance to become executive chairman.
Q2 output beat guidance at 2,248,000 boepd; adjusted EPS was $3.24; CFO was $7.2 billion; capex was $3 billion; and free cash flow was $4.2 billion.
Shareholder distributions rose to $3 billion, including $2 billion of buybacks; the full-year target remains 45% of CFO returned to shareholders.
The company guided Q3 production at 2,290,000-2,320,000 boepd, completed $5 billion dispositions, added 2 mtpa LNG offtake, and signed Iraq and Syria growth deals.
