ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc. and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.
The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world. ConocoPhillips produces and markets hydrocarbons to a broad set of customers and participates in field development, drilling, reservoir management and midstream arrangements necessary to bring production to market. In 2012 the company completed a major corporate reorganization that separated its downstream and midstream businesses into Phillips 66, enabling ConocoPhillips to concentrate on upstream operations.
ConocoPhillips serves markets in North America, Europe, Asia Pacific and other regions through a mix of wholly owned and joint-venture assets. The company emphasizes portfolio management, operational efficiency and technology-driven reservoir development in its strategy. As of mid-2024, Ryan M. Lance serves as chairman and chief executive officer, leading the company’s focus on delivering production growth, managing capital allocation and addressing operational and environmental performance across its global asset base.