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CLAIM #16364 · ConocoPhillips (COP) · 2024Q2 earnings call · Aug 1, 2024 · due Dec 31, 2025

both the partner-operated activity and the efficiencies, they’re going to brought us some production benefit in 2025.

Andy O'Brien · SVP Strategy

CANNOT_DETERMINE
versus commitment · official band 5 percent
Committed
both the partner-operated activity and the efficiencies, they're going to brought us some production benefit in 2025.
Reported
completely eliminated the Marathon Capital program while still delivering pro forma production growth.

In context

sful winter construction season and we’re halfway through the year. And we now have line of sight of achieving a scope of work at Willow around $1.5 billion to $1.7 billion this year. Any large projects such as Willow, achieving scope and milestones on time or early in the first few years is really quite critical to assess the foundation for us for success and derisk our project execution. As I said the other area we specifically called out is the Lower 48. There are a couple of moving parts here. We see the -- an increase in our partner-operated scope. And specifically here, when we’re balanced on attractive low-cost supply opportunities by partners, we’re going to participate. And then also on the operating side of things, we are seeing more work [ph] as a result of our efficiencies. So both the partner-operated activity and the efficiencies, they’re going to brought us some production benefit in 2025. So when we think about it, we’re pleased with the scope of work we’ve achieved so far this year and then the scope we’ve locked in for the second half. Given we’re halfway through the year, we’re now comfortable guiding that capital for the total year is going to be about $11.5 billion. Kirk Johnson: Betty, this is Kirk. And I can give a little bit more color here on Willow specifically. Certainly, as Andy spoke to, our strong execution and the accomplishments that we’ve realized here in the first part of this year, just continues to give us a strong view of what Willow capital will be here in 2024. And that’s why we’re moving into this $1.5 billion to $1.7 billion range. Again, it is just a function of really strong execution across our workflows, and that is, of course, factored into ou

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SEC filings for COP · Claim quote is verbatim from the 2024Q2 earnings call.