ConocoPhillips Reports Strong Financial Results

ConocoPhillips reports strong financial results for 2023, announces a $9 billion return of capital, and provides 2024 guidance. The company's fourth-quarter earnings were $3.0 billion, with full-year earnings of $11.0 billion. ConocoPhillips plans a return of capital, including an ordinary dividend and a variable return of cash distribution. The company's 2024 capital expenditure guidance is set at $11.0 to $11.5 billion, with production guidance of 1.91 to 1.95 MMBOED.