ConocoPhillips is an independent exploration and production (E&P) company headquartered in Houston, Texas. The company explores for, produces, transports, and markets crude oil, bitumen, natural gas, natural gas liquids (NGLs), and liquefied natural gas (LNG) globally. ConocoPhillips holds significant ownership interests in major oil fields, including Prudhoe Bay and Kuparuk in Alaska, and operates in 13 countries. The company is focused on a low cost of supply portfolio and delivering competitive returns to shareholders. ConocoPhillips is the second-largest LNG liquefaction technology provider.

• Employees: 9,900 (as of December 31, 2023)
• Geographic Footprint: 13 countries
• Headquarters: Houston, Texas
• Founded: 2002 (merger of Conoco Inc. and Phillips Petroleum Company)
• Number of locations/facilities: Not specified
• Revenue: $56.1 billion (FY2023)
• Market Cap: $124.0 billion (as of June 30, 2023)
• Key Subsidiaries/Brands: Polar Tankers, Inc., ConocoPhillips Company, Burlington Resources LLC

• CEO: Ryan M. Lance
• CFO: William L. Bullock, Jr.
• Board Chair: Ryan M. Lance
• Other Key Executives: Christopher P. Delk (Vice President, Controller and General Tax Counsel), C. William Giraud (Senior Vice President, Corporate Planning and Development), Heather G. Hrap (Senior Vice President, Human Resources and Real Estate and Facilities Services), Kirk L. Johnson (Senior Vice President, Lower 48 Assets and Operations), Andrew D. Lundquist (Senior Vice President, Government Affairs), Dominic E. Macklon (Executive Vice President, Strategy, Sustainability and Technology), Andrew M. O'Brien (Senior Vice President, Global Operations), Nicholas G. Olds (Executive Vice President, Lower 48), Kelly B. Rose (Senior Vice President, Legal, General Counsel)

• Annual Revenue: $56.1 billion (FY2023)
• Net Income: $11.0 billion (FY2023)
• Market Cap: $124.0 Billion (as of June 30, 2023)
• Total Assets: $96 billion (FY2023)
• Number of employees: 9,900 (as of December 31, 2023)
• Key Financial Highlights: Cash provided by operating activities was $20 billion. Returned $11 billion to shareholders through dividends, share repurchases, and VROC.

ConocoPhillips explores for, produces, transports, and markets:

• Crude Oil
• Bitumen
• Natural Gas
• Natural Gas Liquids (NGLs)
• Liquified Natural Gas (LNG)

The company also licenses its Optimized Cascade LNG liquefaction technology.

ConocoPhillips operates through six geographical segments:

• Alaska (15% of liquids production, 2% of natural gas production)
• Lower 48 (64% of liquids production, 76% of natural gas production)
• Canada (7% of liquids production, 3% of natural gas production)
• Europe, Middle East and North Africa (9% of liquids production, 16% of natural gas production)
• Asia Pacific (5% of liquids production, 3% of natural gas production)
• Other International

ConocoPhillips' strategy is guided by its "Triple Mandate":

• Responsibly meeting energy transition pathway demand.
• Delivering competitive returns on and of capital.
• Achieving net-zero operational emissions by 2050.

The company focuses on maintaining balance sheet strength, providing peer-leading distributions to shareholders, making disciplined investments, and demonstrating responsible ESG performance.

Growth strategies include acquisitions, exploration and development of new resources, and application of new technologies to improve recovery from existing fields. The company is actively pursuing opportunities in LNG and low-carbon technologies such as carbon capture and storage and hydrogen.

ConocoPhillips operates in the highly competitive global oil and gas E&P industry. The company competes with numerous international E&P companies, including state-owned entities, for resources, talent, and market share. Key market trends affecting the business include volatile commodity prices, evolving energy transition policies, and increasing focus on ESG performance.

• Volatile Commodity Prices: Fluctuations in global oil and gas prices significantly impact the company's revenue and profitability.
• Exploration and Development Risks: The success of exploration and development activities is crucial for long-term growth, but these activities are inherently risky and may not yield expected results.
• Energy Transition: The global shift towards lower-carbon energy sources poses challenges and opportunities for the company. The ability to successfully execute on energy transition plans is uncertain and may be costly.
• Geopolitical and Regulatory Risks: Operations in multiple countries expose the company to a variety of political, regulatory, and legal risks, which could negatively impact operations and financial performance.
• Climate Change Regulation: Increasing regulations related to climate change, such as emissions restrictions and carbon taxes, could increase costs and impact demand for the company's products.