US oil company ConocoPhillips reported a more than 122% increase in adjusted second-quarter earnings to $4 billion, according to a financial statement released on Thursday.
The company's second-quarter earnings rose to $3.9 billion from $2 billion in the same period last year.
Adjusted earnings increased from $1.8 billion in the second quarter of 2025 to $4 billion in the latest quarter.
"ConocoPhillips delivered strong second-quarter results with exceptional operational performance, record production from our peer-leading Permian position and disciplined execution across the business, all while continuing to progress our strategic priorities," ConocoPhillips Chairman and CEO Ryan Lance said.
Lance said the company doubled quarterly share repurchases, reached its $5 billion asset disposition target ahead of schedule, secured low-cost supply opportunities in the Middle East and increased its LNG offtake capacity to 12 million tonnes per annum (mtpa).
He added that the company remains on track to achieve its targeted $7 billion increase in free cash flow by 2029.
By Duygu Alhan
Anadolu Agency
energy@aa.com.tr
