Energy Department approves PPF project
The project redevelops Albuskjell, West Ekofisk and Tommeliten Gamma with 11 wells and is expected to produce 90-120 million barrels of oil equivalents from 2028.
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Independent exploration and production company
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In short: ConocoPhillips reported strong Q1 2026 results, raised capital expenditure guidance, and progressed major projects in Alaska and Norway.
The project redevelops Albuskjell, West Ekofisk and Tommeliten Gamma with 11 wells and is expected to produce 90-120 million barrels of oil equivalents from 2028.
Reports earnings per share of $1.78, adjusted $1.89, $4.3B operating cash, declares $0.84 Q2 dividend. Updates production and capital guidance.
This kicks off a two-phase project growing production into 2027. It supports Surmont’s long-term production outlook.
The North Sea redevelopment targets 90-120 million boe and creates 5,900 jobs, mostly via Norwegian firms.
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ConocoPhillips (NYSE:COP) has staged a powerful rebound in 2026, riding a recovery in crude oil prices and steady free cash flow execution. The question for...
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