Conocophillips COP

What this company does

ConocoPhillips explores for, produces, transports and markets crude oil, bitumen, natural gas, NGLs and LNG on a worldwide basis. It is an independent exploration and production company headquartered in Houston, Texas, with operations and activities in 14 countries. At December 31, 2025, its operations were producing in the U.S., Norway, Canada, Australia, Malaysia, Libya, China, Qatar and Equatorial Guinea. On December 31, 2025, the company employed approximately 9,900 people worldwide and held total assets of about $122 billion. Operations are managed through five operating segments defined by geographic region: Alaska; Lower 48; Canada; Europe, Middle East and North Africa; and Asia Pacific. Alaska operations contributed 12 percent of consolidated liquids production and one percent of consolidated natural gas production. The Lower 48 segment consists of operations located in the 48 contiguous U.S. states, with a portfolio made up mainly of short cycle time, resource-rich unconventional plays and commercial operations. The company was incorporated in the state of Delaware in 2001 in connection with the merger between Conoco Inc. and Phillips Petroleum Company, consummated on August 30, 2002.

Written from the business description in CONOCOPHILLIPS's annual report to the U.S. Securities and Exchange Commission, filed 17 February 2026. Every sentence was checked against that document before publication.