ConocoPhillips is a United States–based company operating in the energy sector, within the oil and natural-gas exploration and production industry. The company specializes in discovering, developing and operating hydrocarbon reserves worldwide, maintaining exclusive focus on upstream activities.
ConocoPhillips was formed in 2002 through the merger of Conoco Inc. and Phillips Petroleum Company, a strategic combination designed to create a large, globally competitive independent producer with technological depth, operational scale and diversified geographic coverage. The merger brought together extensive expertise in geology, engineering and advanced exploration tools accumulated over decades.
ConocoPhillips’ portfolio includes crude-oil production, natural gas, condensates, natural-gas liquids (NGLs) and exploration projects in both conventional and unconventional basins. The company operates in the United States (notably Eagle Ford, Bakken and the Permian Basin), Canada, Norway, the United Kingdom, Australia, Indonesia, Malaysia, Qatar and Alaska.
Its activities involve offshore developments, LNG-related projects, seismic-imaging technologies, advanced drilling systems and enhanced-recovery techniques to optimize reservoir performance.
The company’s global operational structure consists of engineering centers, drilling facilities, processing plants, export terminals, transportation infrastructure and multidisciplinary geoscience teams. Following its 2012 spin-off of refining and downstream assets—which created Phillips 66—ConocoPhillips now focuses exclusively on exploration and production, managing long-term assets and deploying capital to high-return, low-cost basins.
Market drivers affecting the company include global oil and gas price cycles, energy policies, regulatory shifts, capital-investment trends, technological developments, competitive dynamics among global producers and geopolitical conditions. The company prioritizes portfolio optimization, capital discipline and continuous improvement in emissions performance and operational efficiency.
ConocoPhillips’ shares trade on the New York Stock Exchange (NYSE) under the ticker COP.
History and when ConocoPhillips was founded
ConocoPhillips was founded in 2002 through the merger of Conoco Inc.—originally Continental Oil Company, established in 1875—and Phillips Petroleum Company, founded in 1917. The merger occurred during a period of global consolidation in the energy sector, aiming to combine complementary assets, strengthen international positioning and build scale in exploration and production. The newly formed corporation became one of the world’s largest independent E&P companies.
Throughout the 2000s, ConocoPhillips expanded its international footprint, invested in major offshore developments and advanced its technological capabilities in exploration, drilling and reservoir engineering. The company also strengthened its LNG-related activities and broadened its portfolio across multiple continents.
A pivotal moment came in 2012 with the spin-off of its downstream operations into Phillips 66. This restructuring transformed ConocoPhillips into a pure-play exploration and production company, enabling more focused capital allocation and strategic development.
During the 2010s, the company refined its asset portfolio by divesting non-core positions and concentrating on high-productivity North American shale basins. Advances in horizontal drilling and hydraulic fracturing significantly enhanced output and positioned the company as a major shale producer. Alaska remained a strategic region, with large-scale projects in challenging environments.
Between 2020 and 2024, ConocoPhillips increased its presence in the Permian Basin through acquisitions, strengthened its natural-gas portfolio and invested in operational efficiency, digital technologies and emissions-reduction initiatives.
The company solidified its standing as one of the leading independent oil and gas producers in the world, guided by financial discipline, technical capability and long-term strategic planning.
Additional Information
The Company ConocoPhillips (United States), is listed on NYSE with a market value of $ 121.40 Billions, having an equity of $ 64.92 Billions.
With a total of 9.900 employees, the company is listed in the sector of Energy and categorized in industry of Oil, Gas and Consumable Fuels.
In the last 12 months the Company had a revenue of $ 59.79 Billions, which generated a profit in the amount of $ 8.85 Billions.
As for its main indicators, the Company has a P/E ratio of 13.71, a P/BV ratio of 1.87 and in the last 12 months the dividend yield of COP was at 3.26%.
The Company is traded internationally through the ticker COP.