ConocoPhillips Q3 earnings rise with dividend increase and slight production decline

ConocoPhillips announced adjusted earnings of $3.27 per share for the third quarter of 2026, up from $1.61 per share the previous year, according to aol.com. The increase was driven by higher realized commodity prices.

Cash from operations reached $7.2 billion, supported by strong operational performance and higher pricing, the company reported. Total production was 2,302 MBOED, marking a 2% decrease year over year after adjusting for acquisitions and dispositions.

Lower 48 production totaled 1,517 MBOED, with 757 MBOED from the Delaware Basin and 197 MBOED from the Midland Basin. Shareholder distributions amounted to $3.4 billion, including $2.4 billion in share repurchases and $1.0 billion in ordinary dividends.

The company also announced a quarterly dividend of $0.93 per share, reflecting an 11% increase. The Willow project is nearing first oil on schedule, according to aol.com.