ConocoPhillips Resumes Share Repurchase Program - Quick Facts

(RTTNews) - ConocoPhillips (COP) resumed its share repurchase program at an annualized level of $1.5 billion, a 50% increase compared to the level of repurchases underway in the fourth quarter of 2020 when the program was suspended. The company expects to execute the program ratably across all four quarters in 2021.

Ryan Lance, CEO, said: "We will monitor the environment closely and retain the discretion to adjust our share repurchase program, as appropriate. While today's action reflects a more constructive outlook on 2021, we do not intend to increase our previously announced operating capital program of $5.5 billion."

ConocoPhillips plans to issue an update on certain guidance items by the end of March.