ConocoPhillips to Re-purchase up to $1 Billion in Company Stock
ConocoPhillips (NYSE: COP) began a stock repurchase program to repurchase up to $1 billion of the company's common stock over a period of up to two years. This plan is in addition to the prior two $1 billion programs announced on February 4, 2005 and August 11, 2005, under which the company has repurchased approximately $1,900 million of its common stock.
Acquisitions for the share repurchase program will be made at
management's discretion at prevailing prices as permitted by
securities laws and other legal requirements, and subject to market
conditions and other factors. Purchases may be increased, decreased or
discontinued at any time without prior notice. Shares of stock
repurchased under the plan will be held as treasury shares.
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