Latest news with #RyanLance
The Star
3 days ago
- Business
- The Star
ConocoPhillips eyes investment in Sabah, reaffirms commitment to Malaysia
ConocoPhillips CEO Ryan Lance KUALA LUMPUR: United States oil giant ConocoPhillips has set its sights on potential investments in Sabah while reaffirming its long-term commitment to Malaysia. Its chief executive officer, Ryan Lance, said the company is currently in discussions with Petroliam Nasional Bhd (PETRONAS) regarding investment opportunities in the country. "We are going to invest in Sabah going forward, and we are exploring many opportunities with PETRONAS,' he told Bernama after participating in a Leadership Dialogue session titled "Gas and Liquefied Natural Gas (LNG): Investing for the Long Term" here today. The session, held as part of Energy Asia 2025, also featured other panellists, including PETRONAS Gas and Maritime executive vice president and chief executive officer Datuk Adif Zulkifli, and was moderated by S&P Global senior vice president and chief energy strategist Dr Atul Arya. ConocoPhillips had announced on April 30 that it had exited from operating the Salam-Patawali deepwater oil and gas field, also known as Block WL4-00, off Sarawak's coast. The field, discovered jointly with PETRONAS in 2018, was developed under a 50:50 joint venture valued at about RM13.7 billion (US$3.13 billion). The company, in a brief statement, said that the withdrawal was part of a "country strategy review', without further elaboration. According ConocoPhillips website, the company is engaged in various stages of exploration, development, and production activities across Malaysia, with working interests in five production sharing contracts (PSCs). Four of these PSCs are located in waters off the eastern Malaysian state of Sabah: Block G, Block J, the Kebabangan Cluster and the Ubah Cluster, which was acquired in 2024. Meanwhile, during the leadership dialogue, Lance said ConocoPhillips remains confident about its prospects in the LNG sector and is ready to develop more LNG projects. Responding to a question on the emerging trend of longer-term LNG contracts, Lance noted that a mixed approach is emerging, with some multi-decade deals taking place in Qatar. "Generally, customers want flexibility, shorter-term contracts with some destination flexibility. But it remains to be seen whether the developer, purchaser, or seller of the LNG will offer that kind of flexibility. "That kind of optionality will be key to accessing arbitrage opportunities across global importing regions,' he said. Asked whether LNG pricing poses a barrier to entry into the Asian market, Lance said ConocoPhillips maintains a long-term, constructive view on pricing. "There will be ups and downs, as there always are in this business, but overall the outlook remains positive over the long term,' he added. - Bernama
Free Malaysia Today
3 days ago
- Business
- Free Malaysia Today
ConocoPhillips eyes investment in Sabah, reaffirms commitment to M'sia
ConocoPhillips CEO Ryan Lance said the company is in discussions with Petronas regarding investment opportunities in Malaysia. (EPA Images pic) PETALING JAYA : US oil giant ConocoPhillips has set its sights on potential investments in Sabah while reaffirming its long-term commitment to Malaysia. Its CEO, Ryan Lance, today said the company is in discussions with Petroliam Nasional Bhd (Petronas) regarding investment opportunities in the country, Bernama reported. 'We are going to invest in Sabah going forward, and we are exploring many opportunities with Petronas,' Lance said during a dialogue session at the Energy Asia 2025 conference in Kuala Lumpur. ConocoPhillips confirmed its exit from the Salam-Patawali deepwater oil and gas field off Sarawak's coast in April, a decision which it said was based on prioritisation within its global portfolio. The deepwater oil and gas field, discovered with Petronas in 2018, was developed under a 50:50 joint venture. In January, a ConocoPhillips subsidiary, ConocoPhillips Sabah Gas Ltd, became the sole operator of the Kebabangan Cluster Production Sharing Contract (KBBC PSC). The Kebabangan gas field, which produces 140 MBOED (million barrels of oil equivalent per day), is located 130km offshore northwest of Sabah waters in the South China Sea. KBBC PSC was previously operated by Kebabangan Petroleum Operating Company Sdn Bhd, a joint operating company comprising Petronas Carigali Sdn Bhd, Shell Energy Asia Limited, and ConocoPhillips Sabah Gas Ltd.
Malay Mail
3 days ago
- Business
- Malay Mail
Oil giant ConocoPhillips targets Sabah investment, signals long-term bet on Malaysia's energy future
KUALA LUMPUR, June 18 — United States oil giant ConocoPhillips has set its sights on potential investments in Sabah while reaffirming its long-term commitment to Malaysia. Its chief executive officer, Ryan Lance, said the company is currently in discussions with Petroliam Nasional Bhd (Petronas) regarding investment opportunities in the country. 'We are going to invest in Sabah going forward, and we are exploring many opportunities with Petronas,' he told Bernama after participating in a Leadership Dialogue session titled 'Gas and Liquefied Natural Gas (LNG): Investing for the Long Term' here today. The session, held as part of Energy Asia 2025, also featured other panellists, including Petronas Gas and Maritime executive vice president and chief executive officer Datuk Adif Zulkifli, and was moderated by S&P Global senior vice president and chief energy strategist Dr Atul Arya. ConocoPhillips had announced on April 30 that it had exited from operating the Salam-Patawali deepwater oil and gas field, also known as Block WL4-00, off Sarawak's coast. The field, discovered jointly with Petronas in 2018, was developed under a 50:50 joint venture valued at about RM13.7 billion (US$3.13 billion). The company, in a brief statement, said that the withdrawal was part of a 'country strategy review', without further elaboration. According ConocoPhillips website, the company is engaged in various stages of exploration, development, and production activities across Malaysia, with working interests in five production sharing contracts (PSCs). Four of these PSCs are located in waters off the eastern Malaysian state of Sabah: Block G, Block J, the Kebabangan Cluster and the Ubah Cluster, which was acquired in 2024. Meanwhile, during the leadership dialogue, Lance said ConocoPhillips remains confident about its prospects in the LNG sector and is ready to develop more LNG projects. Responding to a question on the emerging trend of longer-term LNG contracts, Lance noted that a mixed approach is emerging, with some multi-decade deals taking place in Qatar. 'Generally, customers want flexibility, shorter-term contracts with some destination flexibility. But it remains to be seen whether the developer, purchaser, or seller of the LNG will offer that kind of flexibility. 'That kind of optionality will be key to accessing arbitrage opportunities across global importing regions,' he said. Asked whether LNG pricing poses a barrier to entry into the Asian market, Lance said ConocoPhillips maintains a long-term, constructive view on pricing. 'There will be ups and downs, as there always are in this business, but overall the outlook remains positive over the long term,' he added. — Bernama
New Straits Times
3 days ago
- Business
- New Straits Times
US oil giant ConocoPhillips eyes Sabah market
KUALA LUMPUR: United States oil giant ConocoPhillips has set its sights on potential investments in Sabah while reaffirming its long-term commitment to Malaysia. Its chief executive officer, Ryan Lance, said the company is currently in discussions with Petroliam Nasional Bhd (Petronas) regarding investment opportunities in the country. "We are going to invest in Sabah going forward, and we are exploring many opportunities with Petronas," he told Bernama after participating in a Leadership Dialogue session titled "Gas and Liquefied Natural Gas (LNG): Investing for the Long Term" here today. The session, held as part of Energy Asia 2025, also featured other panellists, including Petronas Gas and Maritime executive vice president and chief executive officer Datuk Adif Zulkifli, and was moderated by S&P Global senior vice president and chief energy strategist Dr Atul Arya. ConocoPhillips had announced on April 30 that it had exited from operating the Salam-Patawali deepwater oil and gas field, also known as Block WL4-00, off Sarawak's coast. The field, discovered jointly with Petronas in 2018, was developed under a 50:50 joint venture valued at about RM13.7 billion (US$3.13 billion). The company, in a brief statement, said that the withdrawal was part of a "country strategy review", without further elaboration. According ConocoPhillips website, the company is engaged in various stages of exploration, development, and production activities across Malaysia, with working interests in five production sharing contracts (PSCs). Four of these PSCs are located in waters off the eastern Malaysian state of Sabah: Block G, Block J, the Kebabangan Cluster and the Ubah Cluster, which was acquired in 2024. Meanwhile, during the leadership dialogue, Lance said ConocoPhillips remains confident about its prospects in the LNG sector and is ready to develop more LNG projects. Responding to a question on the emerging trend of longer-term LNG contracts, Lance noted that a mixed approach is emerging, with some multi-decade deals taking place in Qatar. "Generally, customers want flexibility, shorter-term contracts with some destination flexibility. But it remains to be seen whether the developer, purchaser, or seller of the LNG will offer that kind of flexibility. "That kind of optionality will be key to accessing arbitrage opportunities across global importing regions," he said. Asked whether LNG pricing poses a barrier to entry into the Asian market, Lance said ConocoPhillips maintains a long-term, constructive view on pricing. "There will be ups and downs, as there always are in this business, but overall the outlook remains positive over the long term," he added.
Yahoo
28-05-2025
- Business
- Yahoo
After Sinking Nearly 30%, This Top Dividend Stock's Yield Is Approaching 4%. Time to Buy?
ConocoPhillips' dividend yield has risen as its stock price sank. The oil company has one of the lowest-cost operations in the oil patch. It has a leading free cash flow growth profile through 2029. 10 stocks we like better than ConocoPhillips › Shares of ConocoPhillips (NYSE: COP) have sunk almost 30% over the past year. The primary factor weighing on its stock has been falling oil prices. On a more positive note, the oil stock's slump has pushed its dividend yield up closer to 4%, well above the S&P 500's sub-1.5% yield. Here's a look at whether now's a good time to buy ConocoPhillips for dividend income. Oil prices have a major impact on the cash flows oil companies produce. However, some companies are in a better position to navigate oil price volatility than others. ConocoPhillips is one of those companies. On the first-quarter conference call, CEO Ryan Lance stated: ConocoPhillips is built for this [periods of market volatility], with clear competitive advantages. We have a deep, durable, and diverse portfolio. We have decades of inventory below our $40-per-barrel WTI [West Texas Intermediate] cost-to-supply threshold, both in the U.S. and internationally. He noted that in a world with "haves" and "have-nots," "we believe we are the clear leader of the 'haves,' and we have a disciplined capital allocation framework that is battle-tested through the cycles." The company's low-cost operations enable it to produce a lot of free cash flow. For example, it generated $5.5 billion in cash flow from operations and $2.1 billion in free cash flow in the first quarter. It also has a strong balance sheet, with $7.5 billion in cash at the end of the first quarter. The company's robust free cash flow and balance sheet strength enabled it to return $2.5 billion to investors during the first quarter, with $1 billion paid in dividends and a repurchase of $1.5 billion of its stock. ConocoPhillips tapped into its strong balance sheet to repurchase more shares in the quarter because it believes "our shares represent a very attractive investment at these prices," Lance said on the call. The company clearly believes its stock is a good buy right now. ConocoPhillips expects to produce even more free cash flow in the future. Lance stated on the call: "We are on the cusp of a compelling multiyear free cash flow growth trajectory, led by our high-quality longer-cycle investments in Alaska and LNG [liquefied natural gas]. This underlying improvement in our free cash flow will structurally lower our breakeven and increase our capacity to return capital to shareholders." The company estimates it will produce $6 billion in incremental free cash flow by 2029, assuming oil averages $70 a barrel, fueling sector-leading growth during that timeframe. A big driver is its $8 billion Willow project in Alaska, which will produce an average of 180,000 barrels of oil per day at its peak after it comes online in 2029. The company also has several LNG-related investments that will help fuel additional growth over the next few years, including projects in Qatar and along the U.S. Gulf Coast. The growing cash flows from these projects support the company's dividend growth strategy. ConocoPhillips aims to deliver dividend growth in the top 25% of companies in the S&P 500 in the future. It has been growing its payout at a more than 10% annual rate in recent years, including by 34% last year. The oil giant also plans to buy back more than $20 billion of its stock over the next few years. ConocoPhillips offers investors an attractive dividend that's approaching a 4% yield because of its sinking stock price. It expects to grow that dividend at a leading rate in the future, fueled by its robust cash flow growth profile. That combination of yield and growth makes it look like a top dividend stock to buy right now for those seeking an attractive and growing income stream and meaningful stock price upside potential. Before you buy stock in ConocoPhillips, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and ConocoPhillips wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $639,271!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $804,688!* Now, it's worth noting Stock Advisor's total average return is 957% — a market-crushing outperformance compared to 167% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 19, 2025 Matt DiLallo has positions in ConocoPhillips. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. After Sinking Nearly 30%, This Top Dividend Stock's Yield Is Approaching 4%. Time to Buy? was originally published by The Motley Fool
