ConocoPhillips
  • Who We Are
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    Who We Are

    We work in a truly integrated way to find and produce oil and natural gas globally. Technical capabilities, asset quality and scale, and financial strength set us apart - we are unmatched among independent exploration and production companies.

    Our Company

    The world’s largest independent exploration and production company. GO

    Our Future

    Assets, technology and people for the new energy landscape. GO

    Our Legacy

    A long and proud history of finding and producing oil and gas. GO

  • What We Do
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    What We Do

    We explore for, produce, transport and market crude oil, natural gas, natural gas liquids, liquefied natural gas and bitumen on a worldwide basis - energy that plays a foundational role in enabling global economic development and human progress.

    Exploring for Energy

    Using sophisticated technologies to locate resources. GO

    Getting Energy to Market

    Safely transporting oil and gas, connecting energy supply and demand. GO

    Doing Business With Us

    Valuing relationships with suppliers and other companies. GO

    Producing Energy

    Producing the oil and gas resources to power civilization. GO

    Creating Innovative Solutions

    Working daily to design innovative ways to find and produce oil and gas. GO

    Power in Cooperation

    GO

  • Sustainable Development
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    Sustainable Development

    Sustainable Development is about conducting our business to promote economic growth, a healthy environment and vibrant communities, now and into the future.

    Our Approach

    Integrating sustainable development into our work. GO

    Safety & Health

    Striving to work each day without injury, illness or incidents. GO

    People & Society

    Addressing social and stakeholder issues. GO

    Common Questions

    Answering common questions. GO

    Environment

    Minimizing environmental footprint and supporting stewardship. GO

    Our Performance

    Measuring key performance metrics and reporting indices. GO

  • In Communities
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    In Communities

    We do more than create jobs and pay taxes in the communities where we operate. We listen. Our dedication as a community partner is evidenced in the local events we sponsor. It is also apparent in the conversations held between our local community liaisons and stakeholders.

    Community Investment

    Contributing to the well-being of communities. GO

    Community Engagement

    Working to understand the values, needs and interests of our neighbors. GO

News Releases

ConocoPhillips Announces Fourth Oil Discovery in Deepwater Gulf of Mexico

December 18, 2013

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HOUSTON – ConocoPhillips (NYSE: COP) today announced a significant oil discovery at its Gila prospect in the deepwater U.S. Gulf of Mexico. The company holds a 20 percent working interest in the Gila well, operated by BP (NYSE: BP).

"Gila is the company’s fourth deepwater Gulf of Mexico Paleogene discovery and demonstrates the potential of our growing conventional exploration program,” said Larry Archibald, senior vice president, Exploration. “We have built a significant Gulf of Mexico deepwater acreage position and achieved success with discoveries at Tiber, Shenandoah, Coronado and Gila, validating our exploration strategy in the prolific Lower Tertiary trend.”

The Gila discovery was made by an exploration well on Keathley Canyon Block 93, about 300 miles southwest of New Orleans, in approximately 4,900 feet of water. The well was drilled to a depth of 29,221 feet penetrating multiple Paleogene-aged reservoir sands. Further drilling will be required to determine the ultimate size of the discovery and to test the potential for material additional pay in deeper zones not penetrated in the discovery well.

ConocoPhillips previously announced three discoveries in the Gulf of Mexico:

  • Tiber (Keathley Canyon Block 102, 18 percent working interest).
  • Coronado (Walker Ridge Block 98, 35 percent working interest).
  • Shenandoah (Walker Ridge Block 51, 30 percent working interest).

Appraisal wells are currently being drilled on Tiber and Coronado. Shenandoah will be further appraised in 2014.

The company currently holds an interest in 454 Gulf of Mexico deepwater blocks covering approximately 2.2 million net acres, primarily focused on the Lower Tertiary trend in the Central and Western Gulf. Currently, exploration drilling is underway at the Deep Nansen prospect (East Breaks Block 602, 12.5 percent working interest). In 2014, the company expects to initiate a multi-well operated drilling program.

 

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About ConocoPhillips

ConocoPhillips is the world’s largest independent E&P company based on production and proved reserves. Headquartered in Houston, Texas, ConocoPhillips had operations and activities in 29 countries, $55 billion in annualized revenue, $120 billion of total assets, and approximately 18,000 employees as of Sept. 30, 2013. Production from continuing operations averaged 1,511 MBOED for the nine months ended Sept. 30, 2013, and proved reserves were 8.6 billion BOE as of Dec. 31, 2012. For more information, go to www.conocophillips.com.

 

Contacts

Davy Kong (media)
281-293-2701
davy.kong@conocophillips.com

Sidney J. Bassett (investors)
212-207-1996
sid.bassett@conocophillips.com

Vladimir R. dela Cruz (investors)
212-207-1996
v.r.delacruz@conocophillips.com

                                                         

 

CAUTIONARY STATEMENT FOR THE PURPOSES OF THE "SAFE HARBOR" PROVISIONS
OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

 

This news release contains forward-looking statements. Forward-looking statements relate to future events and anticipated results of operations, business strategies, and other aspects of our operations or operating results. In many cases you can identify forward-looking statements by terminology such as "anticipate," "estimate," "believe," "continue," "could," "intend," "may," "plan," "potential," "predict," "should," "will," "expect," "objective," "projection," "forecast," "goal," "guidance," "outlook," "effort," "target" and other similar words. However, the absence of these words does not mean that the statements are not forward-looking. Where, in any forward-looking statement, the company expresses an expectation or belief as to future results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, there can be no assurance that such expectation or belief will result or be achieved. The actual results of operations can and will be affected by a variety of risks and other matters including, but not limited to, changes in commodity prices; changes in expected levels of oil and gas reserves or production; operating hazards, drilling risks, unsuccessful exploratory activities; difficulties in developing new products and manufacturing processes; unexpected cost increases; international monetary conditions; potential liability for remedial actions under existing or future environmental regulations; potential liability resulting from pending or future litigation; limited access to capital or significantly higher cost of capital related to illiquidity or uncertainty in the domestic or international financial markets; and general domestic and international economic and political conditions; as well as changes in tax, environmental and other laws applicable to our business. Other factors that could cause actual results to differ materially from those described in the forward-looking statements include other economic, business, competitive and/or regulatory factors affecting our business generally as set forth in our filings with the Securities and Exchange Commission. Unless legally required, ConocoPhillips undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.