ConocoPhillips Co. – Company Information

ConocoPhillips Co. is a multinational energy corporation, based in Houston, Texas, USA.

The company was formed in 2002 following a merger between Conoco Inc. and the Phillips Petroleum Co.

ConocoPhillips Co. is considered to be one of the six “supermajors”, which also includes BP, Royal Dutch Shell, Total S.A., and the Chevron Corporation.

In 2012 the company set up a new company called Phillips 66 to operate all midstream, downstream, marketing and chemical operations.

However, since the creation of Phillips 66, ConocoPhillips Co. still continues its upstream operations, which includes exploration and production activities.

According to ConocoPhillips Co., the company has a resource base of around 43 billion barrels of oil equivalent (BOE).

Business Focus

ConocoPhillips Co. focuses on upstream operations, which includes: the exploration, development and production of oil and natural gas, with the company stating that they “explore for, produce, transport and market crude oil, natural gas, natural gas liquids, liquefied natural gas and bitumen on a worldwide basis”.

Since 2007, the ConocoPhillips has increased their Gulf of Mexico lease holdings. As a result, they currently hold approximately 2 million net acres – making them among the top five leaseholders in the area.

The company is currently exploring approximately 2.5 million acres  near Angola Рwhere they managed to secure a rig to drill the first of at least four exploration wells (starting in 2014) Рas well as 1.4 million acres offshore Bangladesh.

New ventures –¬†In 2011 ConocoPhillips created Energy Technology Ventures, which focuses on the development of next-generation energy technologies for: renewable power generation, smart grids, energy efficiency, oil, natural gas,¬†coal and nuclear energy, emission controls, water and biofuels.


  • Chairman and CEO:¬†Ryan Lance
  • Company head office:¬†Houston Energy Corridor,¬†Houston, Texas,¬†U.S.
  • Employees: 17,000 (approximately)
  • Type: Public
  • Traded as:¬†NYSE:¬†COP
  • S&P 500 Component
  • Operations in over 30¬†countries


Consolidated Statement of Income:

Sales and other operating revenues:  54.413 billion USD (2013) Р57.967 billion USD (2012)
Equity in earnings of affiliates: $1.911 billion USD (2013) – $2.219 billion USD (2012)
Gain on dispositions: $1.657 billion USD (2013) – $1.242 billion USD (2012)
Other income: $469 million USD (2013) – $374 million USD (2012)
Total revenues and other income: $62.004 billion USD (2013) – $58.248 billion USD (2012)

Net income: $8.498 billion USD (2013) – $9.215 billion USD (2012)
Net income attributable to ConocoPhillips: $8.428 billion USD (2013) – $9.156 billion (2012)

Net income per share of common stock (basic): $6.77 USD (2013) – $7.43 USD (2012)
Net income per share of common stock (diluted): $6.72 USD (2013) – $7.38 USD (2012)

Cash Flow information:

Net cash provided by continuing operations: $13.458 billion USD (2013) – $15.801 billion USD (2012)
Net cash provided by discontinued operations: $464 million USD (2013) – $286 million USD (2012)
Net cash provided by operating activities: $13.922 billion USD (2013) – $16.087 billion USD (2012)

ConocoPhillips Co. – Developments

Ryan Lance, chairman and chief executive officer, commented on the results:

‚Äú2013 was a significant year for the company and we achieved several important, strategic milestones.¬†We delivered on our non-core asset sales, progressed our growth programs, achieved conventional and unconventional exploration success, and increased our dividend. In addition, our capital program yielded strong organic reserve replacement, which demonstrates the quality and potential of our asset base. These accomplishments position us to meet our unique combination of 3 to 5 percent volume and margin growth with a compelling yield. We are set for an exciting year in 2014.‚ÄĚ