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Analyst
Lloyd Byrne
Period: Reporting periods mapped to calendar 2024 Q4 – 2026 Q2 (7 quarters).
- Questions
- 11on tracked calls
- Challenge rate
- 0%none of 11 questions
- Companies
- 3questioned at least once
- Reporting periods
- 7with questions
These figures cover the whole profile: every tracked question, all reporting periods.
How to read these numbers
Challenge rate is the share of questions that pushed back, pressed for specifics or questioned management’s assumptions. It describes how questions were asked on the calls tracked here; it does not measure whether any view turned out to be right.
Rounding. Rates are rounded to whole percentages, so a small share can show as 0% even when some questions were challenging. The count beside each rate is exact; “none of N questions” means no question was challenging.
No questions recorded. “—” means there is nothing to calculate: no questions were recorded for that period on the calls tracked here. It does not mean there was no activity.
Fewer than 3 questions. A company-level rate is withheld when fewer than 3 questions were recorded for that company; the questions are still counted everywhere else.
Small samples. Profiles with fewer than 10 questions are marked Limited sample.
Reporting periods. Questions are grouped by the calendar quarter each company’s fiscal reporting period maps to, not by the date of the call. Periods without a calendar mapping are listed separately under their fiscal label.
Questions asked
Grouped by company, most questions first. Open a company to read its questions, newest reporting period first.
Showing 11 of 11 questions from 3 companies
COPConocoPhillips6 questions · 6 reporting periods · 0 of 6 challenging
Calendar 2026 Q2
I want to focus on Alaska, and I just wanted to discuss the what you can say about the exploration results
Show response
Johnson called the results encouraging enough to bring more resources into Willow, though appraisal work continues, and framed decades of infrastructure leverage.
Calendar 2025 Q4
you've been pretty clear in the past, Ryan, about what it would take to go back into Venezuela, and I was just wondering if there's any update there
Show response
Ryan Lance emphasized priority is recovering money owed from two judgments. Helping administration think through short/medium/long-term. No change to Sitco process. Encouraged by administration wanting US ownership.
Calendar 2025 Q3
$400 million improvement, and in light of it kinda being the second cut this year, it just what's changing
Show response
Andy O'Brien attributed reductions to 75% Marathon synergy capture, full-year benefits flowing through 2026, and meaningful capture of the $1B cost improvement program.
Calendar 2025 Q2
just kind of what you're expecting from regasification and sales deals going forward? And then how do we expect that to contribute over the next few years
Show response
Andy O'Brien confirmed 5 MTPA fully placed from Port Arthur with new 1.5 MTPA Dunkerque regas and Asian SPA, signaling more offtake announcements ahead.
Calendar 2025 Q1
would you use your balance sheet and your asset sales and lean in a little bit on going above that 45% return to shareholders going forward
Show response
Ryan Lance anchored on mid-45% CFO, noted buying nearly 20% of Marathon shares back in 4-5 months, willing to use some balance sheet cash but not gross debt.
Calendar 2024 Q4
can we go back and go through what you would think is a theoretical maintenance capital number as you look out
Show response
Andy O'Brien framed sustaining capital at ~$9B at current prices, or ~$7.5B in a $40 world including Marathon and organic growth.
PSXPhillips 664 questions · 2 reporting periods · 0 of 4 challenging
Calendar 2026 Q1
You can comment on Western Gateway and obviously, a very good open season. Just what are the hurdles left
Show response
Don outlined remaining steps: complete JV arrangements with Kinder Morgan and execute transportation agreements with third-party shippers. Strong market and government support confirmed.
how does that impact second quarter capture or maybe even third quarter if rates continue to go on like this
Show response
Brian confirmed continued benefit from time-chartered vessels in elevated freight market, particularly in the Atlantic Basin region.
Calendar 2025 Q4
Maybe you guys could start with just an update on Western Gateway. And the open season and then any I know you guys are extending the destination to LA
Show response
Don detailed: first open season yielded multiple shipper commitments. Second open season extends to LA market and reaches back to Gulf Coast via Explorer pipeline (PSX 22% owner). Regulatory and elected official support described as unprecedented. Securing third-party supply commitments with right contract terms for project returns.
Clean product yields have been really strong. And just the sustainability of that, the catalyst optimization
Show response
Rich described structural change applying crude unit reliability discipline to all downstream conversion units. Record annual clean product yield achieved. Sees continued progress driven by organizational performance and small-capital, high-return investments.
CVXChevron Corporation1 question · 1 reporting period · 0 of 1 challenging
Calendar 2025 Q1
Can you just walk through the next steps to get to the 300,000 barrels a day? And are there any hurdles we have to look out for?
Show response
Wirth detailed Ballymore well productivity, Anchor drilling timeline, and noted weather as the primary risk. All three Gulf projects in good execution posture.
Challenge rate by company
Every company this analyst questioned, most questions first. A company-level rate is shown from 3 questions; below that it is withheld.
| Company | Questions | Challenge rate |
|---|---|---|
| COP ConocoPhillips | 6 | 0%none of 6 questions |
| PSX Phillips 66 | 4 | 0%none of 4 questions |
| CVX Chevron Corporation | 1 | —Rate withheld: fewer than 3 questions |
Activity by reporting period
Questions recorded for each calendar quarter that companies’ reporting periods map to (not the call date), with the challenge rate for that period. Periods inside the range with no questions are shown as “No questions recorded”.
| Calendar period | Questions | Challenge rate | Companies |
|---|---|---|---|
| 2024 Q4 | 1 | 0%none of 1 question | 1 |
| 2025 Q1 | 2 | 0%none of 2 questions | 2 |
| 2025 Q2 | 1 | 0%none of 1 question | 1 |
| 2025 Q3 | 1 | 0%none of 1 question | 1 |
| 2025 Q4 | 3 | 0%none of 3 questions | 2 |
| 2026 Q1 | 2 | 0%none of 2 questions | 1 |
| 2026 Q2 | 1 | 0%none of 1 question | 1 |
- 2024 Q41 question · challenge rate 0% (none of 1 question) · 1 company
- 2025 Q12 questions · challenge rate 0% (none of 2 questions) · 2 companies
- 2025 Q21 question · challenge rate 0% (none of 1 question) · 1 company
- 2025 Q31 question · challenge rate 0% (none of 1 question) · 1 company
- 2025 Q43 questions · challenge rate 0% (none of 3 questions) · 2 companies
- 2026 Q12 questions · challenge rate 0% (none of 2 questions) · 1 company
- 2026 Q21 question · challenge rate 0% (none of 1 question) · 1 company
Topics
Topics tagged on this analyst’s questions.
- Capex Investment5
- Geographic Expansion4
- Competitive Dynamics2
- Cost Pressure2
- Margin2
- Capital Allocation2
- Innovation & R&D1
- Regulation Policy1
- Demand1
- Revenue Growth1