ConocoPhillips CEO Ryan Lance will retire after fourteen years at the helm, with CFO Andy O’Brien succeeding him on September 1. The largest U.S. independent oil and gas producer posted adjusted earnings of $3.24 per share in the second quarter, beating analyst estimates of $2.88. Revenue surged 32.4% to $19.5 billion, while production declined nearly 6% to 2.25 million barrels of oil equivalent per day. The company has completed several multibillion-dollar acquisitions in recent years, including the purchase of Marathon Oil for $22.5 billion in 2024.
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