ConocoPhillips (COP) reported Lower 48 output averaging 1,508 mboe/d in Q2 2025, accounting for 63% of total production. The company’s assets span major shale basins with 15 years of drilling inventory, focusing on efficiency and productivity. Exxon Mobil (XOM) and Viper Energy (VNOM) are expanding in U.S. shale basins, with XOM acquiring Pioneer Natural Resources and VNOM acquiring Sitio Royalties. COP’s stock has declined 15% in the past year, trading at a lower EV/EBITDA ratio than the industry average. Analysts have revised upward the 2025 earnings estimate for COP, XOM, and VNOM, all currently rated Hold.

Read more at Zacks Investment Research: How ConocoPhillips Is Maximizing Value in the U.S. Lower 48 – August 14, 2025