ConocoPhillips’ operated facilities in the Gulf of Mexico are currently limited to one production platform, the Magnolia Offshore Platform, located about 150 miles off the coast of Louisiana. Combined, the five producing wells associated with this platform currently produce approximately 5,300 barrels of oil equivalent per day.

Following the Deepwater Horizon incident in April 2010, we conducted a safety stand-down immediately at all of our drilling operations and thoroughly reviewed our personal and process safety practices with our employees and contractors. ConocoPhillips recognizes that our industry’s oil spill response capabilities should be improved. We are participating with our industry in developing new spill response strategies and/or equipment improvements that will materially increase our ability to capture leaking oil at its source at the sea floor, collect oil on the ocean surface, stage equipment in locations where it might be needed, and engage in advanced and ongoing research and development. See Spill Containment for further information.