ConocoPhillips explores for, produces, transports and markets crude oil, natural gas, natural gas liquids, liquefied natural gas and bitumen on a worldwide basis. Key focus areas include safely operating producing assets, executing existing major projects and exploring for new resources in promising areas. The portfolio includes legacy assets in North America, Europe, Asia and Australia; growing North American shale and oil sands businesses; a number of major international development projects; and a global exploration program. ConocoPhillips conducts exploration activities in 19 countries and produces hydrocarbons in 13 countries, with proved reserves located in 15 countries as of Dec. 31, 2011.
Headquartered in Houston, Texas, ConocoPhillips has operations in almost 30 countries.
As of May 1, 2012, the company had more than 16,000 employees worldwide.
ConocoPhillips common stock is listed on the New York Stock Exchange under the ticker symbol COP.
2011 Accomplishments
Significant accomplishments in 2011 included the following:
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Maintaining commitment to operational and personal safety.
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Progressing portfolio repositioning.
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Enhancing margins through focused capital investment.
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Replacing 120 percent of reserves on an organic basis.
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Growing production and acreage in liquids-rich North American shale plays.
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Exploiting legacy positions and major developments in North America, Europe and Asia Pacific.
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Sanctioning the Australia Pacific LNG project.
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Ramping up Canadian oil sands production.
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Continuing progress on building high-value exploration program. . |
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Outlook
Looking ahead, we expect the following:
Returns
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Execute disciplined capital program of approximately $15 billion per annum.
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Continue optimization of the portfolio and shift to high-margin production.
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Deliver per-unit margin, ROCE and CROCE improvements.
Growth
Distributions
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Execute up to $10 billion in asset sales from 2012 onward.
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Repurchase shares, broadly tied to asset sales.
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Target annual dividend increases. |