ConocoPhillips

ConocoPhillips is a Delaware-incorporated independent exploration-and-production company headquartered at 925 N. Eldridge Parkway in Houston, Texas. Its 2025 Form 10-K says the company explores for, produces, transports, and markets crude oil, bitumen, natural gas, natural gas liquids, and liquefied natural gas worldwide. At December 31, 2025, production operations were reported in the United States, Norway, Canada, Australia, Malaysia, Libya, China, Qatar, and Equatorial Guinea, managed through five geographic operating segments. [1]

The present company was built through a major corporate combination. ConocoPhillips was incorporated in Delaware on November 16, 2001, in anticipation of the merger of Conoco Inc. and Phillips Petroleum Company, which was consummated on August 30, 2002. In 2012, the company completed the separation of its downstream businesses into Phillips 66 and continued as a focused upstream exploration-and-production company. [2] [3]

The portfolio combines long-established producing regions with large development programs. In Alaska, where ConocoPhillips says it has developed oil resources for more than 50 years, the company identifies Prudhoe Bay, Kuparuk, and the Western North Slope as major production hubs and reported 199 thousand barrels of oil equivalent per day from the Alaska segment in 2025. The company also identifies its Lower 48 positions as a key growth engine and maintains operations in Canada, Europe, Asia Pacific, and other international areas, including LNG-linked activities. [4] [5]

In 2025, total company production averaged 2.375 million barrels of oil equivalent per day, operating cash flow was $19.8 billion, and capital expenditures and investments were $12.6 billion. The company completed its acquisition of Marathon Oil in November 2024 and said it completed asset integration during the first half of 2025. [1]

ConocoPhillips is also relevant to partnership records involving China’s offshore-energy sector. ConocoPhillips China states that the company has developed relationships with CNOOC and Sinopec through domestic and overseas oil-and-gas projects. These references describe commercial and project relationships, not common ownership. [6]