Current investment programs are focused on the operated Surmont oil sands development and the liquids-rich Montney unconventional play in northeastern British Columbia. Surmont is a steam-assisted gravity drainage (SAGD) development that contains over a billion barrels of captured resources. There is also further resource upside from the company’s other Canadian oil sands assets.

At Montney, ConocoPhillips has established a major position in a liquids-rich unconventional development play. During 2020, the company completed an acquisition of approximately 147,000 net acres in the play’s core area, adding substantial resources with a favorable cost of supply.

ConocoPhillips has progressed its exploration and appraisal activities during recent years and plans to grow production significantly through the next decade.