Generated cash provided by operating activities of $5.8 billion and cash from operations (CFO) of $4.7 billion. Raised ordinary dividend by 34% to $0.78 per share and increased existing share repurchase authorization by up to $20 billion. Ended the quarter with cash and short-term investments of $7.1 billion and long-term investments of $1.0 billion.”ConocoPhillips (COP) continues to demonstrate strong operational performance, surpassing the high end of our production guidance during the quarter, while executing on our returns-focused value proposition. We are also raising our ordinary dividend, increasing our share repurchase authorization and are on track to distribute at least $9 billion to shareholders for 2024,” said Ryan Lance, chairman and chief executive officer. “We still anticipate closing the planned acquisition of Marathon Oil this quarter and expect to significantly exceed our initial $500 million synergy guidance.” Production for the third quarter of 2024 was 1,917 MBOED, an increase of 111 MBOED from the same period a year ago. After adjusting for closed acquisitions and dispositions, third-quarter 2024 production increased 47 MBOED or 3% from the same period a year ago. Earnings and adjusted earnings decreased from the third quarter of 2023 primarily due to the impact from lower prices. The company’s total average realized price was $54.18 per BOE, 10% lower than the $60.05 per BOE realized in the third quarter of 2023.
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