Corporate profile
Who we are
ConocoPhillips is one of the world’s largest independent exploration and production (E&P) companies.
Headquartered in Houston, Texas, the company specializes in the exploration, development, production, transportation, and marketing of crude oil, natural gas, liquefied natural gas (LNG), and natural gas liquids.
Unlike integrated oil majors such as ExxonMobil or Chevron, ConocoPhillips operates as a pure-play upstream company, focusing exclusively on the discovery and production of energy resources rather than refining or retail distribution.
The company is publicly traded on the New York Stock Exchange under the ticker symbol COP.
Headquarters
Houston, Texas — global coordination of exploration, development, and production activities.
Business focus
Upstream E&P only — no refineries, no retail fuel stations, no downstream integration since the 2012 spin-off of Phillips 66.
Mission, vision & values
Purpose and principles
“We exist to power civilization.”
Mission
“To be the E&P company of choice for all stakeholders.”
Vision
Core SPIRIT values
These values guide decision-making across operations, partnerships, and stakeholder relationships worldwide.
S — Safety
Commitment to incident-free operations and protecting people, communities, and assets.
P — People
Respect and development of employees, contractors, and the communities where we operate.
I — Integrity
Ethical, transparent conduct in every business relationship and regulatory interaction.
R — Responsibility
Environmental and social accountability in how resources are developed and delivered.
I — Innovation
Continuous technological improvement to unlock resources safely and efficiently.
T — Teamwork
Collaborative partnerships across disciplines, joint ventures, and host governments.
| Value | Description |
|---|---|
| Safety | Commitment to incident-free operations |
| People | Respect and development of employees |
| Integrity | Ethical and transparent conduct |
| Responsibility | Environmental and social accountability |
| Innovation | Continuous technological improvement |
| Teamwork | Collaborative partnerships |
Our heritage
Historical timeline
ConocoPhillips traces its roots to legacy companies including Conoco, Phillips Petroleum, and Standard Oil — more than a century of energy industry leadership.
Origins in Conoco, Phillips Petroleum, and Standard Oil legacy companies that helped build America’s modern energy industry.
Merger of Conoco Inc. and Phillips Petroleum to form ConocoPhillips, creating a major integrated energy company.
Separation of downstream business into Phillips 66; ConocoPhillips becomes a pure-play exploration and production company.
Acquisition of Concho Resources and Shell’s Permian assets, significantly expanding U.S. shale production capacity.
Acquisition of Marathon Oil completed, further strengthening the company’s position in North American unconventional and conventional assets.
Where we operate
Global operations
As of 2024–2025, ConocoPhillips operates in approximately 15 countries across key energy regions.
| Region | Key assets |
|---|---|
| United States | Permian Basin, Eagle Ford, Bakken Formation, Alaska North Slope |
| Canada | Surmont oil sands, Montney shale |
| Europe & North Sea | Offshore operations in Norway and UK |
| Asia-Pacific | LNG and natural gas investments in Australia |
| Middle East & North Africa | Strategic partnerships in Qatar, Libya, and Malaysia |
How we create value
Business model & revenue
ConocoPhillips generates revenue primarily through the sale of crude oil, natural gas, and LNG. Because the company does not operate refineries or retail fuel stations, financial performance is directly sensitive to commodity price fluctuations — a defining characteristic of pure-play upstream operators.
2024 revenue
Annual revenue exceeded tens of billions of USD, reflecting scale across global production portfolios.
Production volume
Approximately 2 million barrels of oil equivalent per day (BOE/d), among the highest production rates of any independent E&P company.
Innovation
Technology & innovation
The company invests significantly in digital and low-carbon technologies to improve recovery, safety, and environmental performance.
- AI-assisted reservoir analysis
- Automated drilling and real-time data analytics
- Fiber optic sensing and Simulfrac hydraulic fracturing
- Methane emissions monitoring systems
- Carbon intensity reduction initiatives
Environmental strategy
Sustainability & environmental commitment
ConocoPhillips has publicly committed to reducing its environmental footprint while meeting global energy demand. The company is a participating member of the Oil and Gas Methane Partnership (OGMP) 2.0.
Like other major fossil fuel producers, ConocoPhillips continues to face scrutiny from climate advocacy groups regarding carbon emissions and fossil fuel expansion — underscoring the importance of transparent reporting and measurable progress on emissions reduction.
Focus areas
- Lower-carbon oil production
- Methane emissions reduction
- Water conservation and biodiversity management
- Responsible LNG expansion
Market position
Financial strength & competitive position
One of the largest independent E&P companies globally, with a dominant position in North American shale and LNG markets.
Competitive advantages
- Large, diversified reserve base
- Strong balance sheet and disciplined capital allocation
- Extensive shale and offshore expertise
- Proven track record of strategic acquisitions
Key risks
- Volatility in global oil and natural gas prices
- Regulatory and political instability in operating regions
- Environmental litigation and climate policy changes
Executive leadership
Leadership
How we work
Corporate culture
ConocoPhillips is widely recognized in the industry for a culture defined by discipline, safety, and technical excellence.
- Rigorous process discipline
- Uncompromising safety standards
- Technical excellence and employee development
- Financial conservatism and operational efficiency