Record Production Helps ConocoPhillips Beat Q2 Profit Estimate

ConocoPhillips (NYSE: COP) booked higher-than-expected earnings for the second quarter as its oil and gas production rose to a record and oil prices increased. The U.S. oil and gas firm reported on Thursday adjusted earnings of $2.3 billion, or $1.98 per share, beating the analyst consensus estimate of $ 1.96 per share earnings compiled by The Wall Street Journal. The adjusted earnings were higher than the Q2 2023 result of $1.84 EPS. ConocoPhillips’s production was 1.945 million barrels of oil per day (boepd) for the second quarter of 2024,…