During last week’s earnings call, US energy major, ConocoPhillips revealed that an additional 1.5 mill tonnes per annum of regasification capacity was booked at Fluxy’s Dunkerque LNG import terminal.
All of the 5 mill tonnes per annum from Port Arthur LNG was placed with buyers, while commercial activities were ongoing in Europe and Asia.
The oil and gas company targeted a $7 bill free cash flow inflection by 2029 (at $70 per barrel WTI, non-GAAP).
During the call, the management reiterated and narrowed full-year 2025 production guidance, despite the pending Anadarko Basin divestiture and maintained capital and operating cost guidance unchanged from previous reductions.
ConocoPhillips expected notable free cash flow tailwinds in the second half of this year, citing lower capital spending, increased APLNG distributions, and favourable cash tax changes.
CEO, Ryan Lance, said: “Assuming a $70 per barrel WTI price environment, we expect the major projects we're currently progressing, combined with the additional cost and margin enhancements we just announced, to drive a $7 bill free cash flow inflection by 2029.
“That would almost double the consensus free cash flow expectation for the entire company this year,” he said.
