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ConocoPhillips Boosts Free Cash Flow Projections Amid Oil Market Volatility
ConocoPhillips Boosts Free Cash Flow Projections Amid Oil Market Volatility
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BTCCSquare news:
ConocoPhillips (COP 1.40%) has raised its free cash FLOW target by $7 billion annually through 2029, leveraging low-cost operations and strategic acquisitions. The energy giant generated $4.7 billion in Q2 operating cash flow despite a 19% year-over-year drop in realized oil prices, offset by a 446,000 BOE/day production surge from its Marathon Oil deal and organic growth.
The company's capital discipline shines through its $3.3 billion quarterly capex deployment, balancing shareholder returns with portfolio expansion. This financial fortress approach mirrors crypto-native firms like Bitcoin miners who prioritize operational efficiency during market cycles.
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