Earnings call briefThird-quarter 2026
ConocoPhillips says preliminary 2027 capital spending will be modestly lower
The company also expects low-single-digit underlying production growth next year, driven by the Lower 48, and per-unit operating costs to trend lower again.
GetSignal ConocoPhillips COP
ConocoPhillips said on its third-quarter call that its preliminary 2027 outlook anticipates modestly lower capital spending year on year and lower per-unit operating costs.
CFO and senior vice president of digital and transformation Kontessa S. Haynes-Welsh said the pre-dividend free cash flow breakeven is currently in the mid-forties WTI and will improve to the low-$30s as it approaches 2029 and beyond.
Quotes from the call
“We anticipate capital spending to be modestly lower year on year.”
Key facts from the call
- Expected preliminary 2027 capital spending
- Modestly lower year on year
- Expected 2027 production growth
- Low-single-digit underlying growth, driven by the Lower 48
- Pre-dividend free cash flow breakeven, current
- Mid-forties WTI
- Expected pre-dividend free cash flow breakeven, approaching 2029 and beyond
- Low-$30s WTI
Source: ConocoPhillips' third-quarter 2026 earnings call, November 5, 2026.
Written by GetSignal with AI from the company's earnings call.
Not investment advice.
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