Who We Are

 

Who We Are
ConocoPhillips is an international, integrated energy company. It is the third-largest integrated energy company in the United States based on market capitalization and oil and natural gas proved reserves and production; and the second-largest refiner in the United States. Worldwide, of non-government-controlled companies, ConocoPhillips is the sixth-largest proved reserves holder and the fifth-largest refiner.

The company is known worldwide for its technological expertise in exploration and production, reservoir management and exploitation, 3-D seismic technology and high-grade petroleum coke upgrading.

Headquartered in Houston, Texas, ConocoPhillips operates in nearly 40 countries. The company has 32,600 employees worldwide and assets of $178 billion. ConocoPhillips stock is listed on the New York Stock Exchange under the symbol “COP.”

 

Our Businesses
The company has four core activities worldwide:

• Petroleum exploration and production.
• Petroleum refining, marketing, supply and transportation.
• Natural gas gathering, processing and marketing, including a 50 percent interest in DCP Midstream, LLC.
• Chemicals and plastics production and distribution through a 50 percent interest in Chevron Phillips Chemical Company LLC.

In addition, the company is investing in several emerging businesses — power generation; carbon-to-liquids; technology solutions; and emerging technologies such as renewable fuels and alternative energy sources — that provide current and potential future growth opportunities.

 

Our Theme

 

Delivering Energy
ConocoPhillips is engaged in delivering energy to a world that is increasingly dependent on access to abundant, reliable supplies of energy in many forms. We are dedicated to delivering this energy safely and in an environmentally responsible manner.

Throughout most of our history, we focused on producing readily available conventional oil and natural gas. As access to these supplies declined, we undertook a transition to unconventional sources — heavy oil, “tight” natural gas and coalbed methane — which now represent much of our resource base.

Today we are engaged in a further long-term transition as we develop new methods to provide these fuels in cleaner-burning forms while beginning the journey toward renewable fuels and alternative energy sources. This transition, which will require decades to accomplish, is part of a strategy through which ConocoPhillips intends to continue delivering energy responsibly to the world well into the future.

 

Building Value
ConocoPhillips is committed to building the intrinsic value of our company by capitalizing on the opportunities offered by our substantial asset portfolio — a portfolio assembled through a combination of organic growth and acquisitions. These opportunities range from promising exploratory prospects to ongoing producing field development programs, refinery upgrades, expansions of our downstream businesses and entry into emerging forms of alternative energy.

Further, we are committed to building the value realized by ConocoPhillips shareholders in return for their investment in our shares. During 2007 our shareholders realized a 25.4 percent return on their investment, the fifth consecutive year of returns exceeding 25 percent. We increased the quarterly dividend by 14 percent and made $7 billion in share repurchases. In early 2008, we announced a 15 percent increase in the quarterly dividend, and we have an additional $10 billion in share repurchases authorized for 2008. In the future, we plan to allocate a significant portion of our discretionary cash for return to shareholders through share repurchases and dividends.