The long and illustrious history of ConocoPhillips spans more than 100 years and is filled with fascinating chapters, momentous discoveries, and groundbreaking innovations. In 2012, the then integrated oil & gas company made the bold move to split into two with the upstream exploration & production (E&P) company retaining the original name.
“Ten years ago, we set a vision to be the E&P company of choice for all stakeholders,” said Chairman & CEO Ryan Lance in a recent letter to employees. “At that time, I told our workforce that the world would be watching, but that I had no doubt we would succeed. We’ve now emerged from this transformative decade a stronger, more resilient company.”
During the past 10 years, ConocoPhillips has achieved milestones in every aspect of its global business. Rather than react to the market’s cyclical volatility, the company embraced it with a returns-based strategy, consistently focusing attention on the lowest cost of supply resources.
At opportune times non-core assets were sold and transformative acquisitions made, all while retaining the benefits of a globally diverse portfolio.
Today, ConocoPhillips more efficiently produces as much equivalent energy as it did in 2012. In addition, as the first U.S.-based oil and gas company to adopt a Paris-aligned climate risk strategy, it is committed to playing a valued role in the energy transition, ensuring that everything it does aligns with the underlying realities of its business as society transitions to a lower-carbon energy future.
But operational success is not the only thing that sets ConocoPhillips apart from its competition.
We’re built to perform over the long term. With the best people, portfolio, and value proposition in the industry, we’re ready to take on the future.
“It’s our people,” Lance said. “At every step of the way in building this proud record of achievement, we’ve been guided by our SPIRIT Values. Together, we’ve operated safely, given back to our communities, helped our colleagues rebuild after natural disasters, challenged each other to try new things and celebrated individual and shared successes. These attributes define who we are and make me most proud to lead ConocoPhillips.
“While celebrating the past 10 years is important,” he added, “we’re built to perform over the long term. With the best people, portfolio, and value proposition in the industry, we’re ready to take on the future.”
TIMELINE: Take a walk through the past 10 years
10 Years
ConocoPhillips Becomes One of the World’s Largest Independent E&P Companies, Spinoff of Phillips 66 Complete
HOUSTON, May 1, 2012 — ConocoPhillips [NYSE:COP] today announced that it has completed the spinoff of its downstream businesses to its stockholders. With the completion of this transaction, ConocoPhillips is the world’s largest independent exploration and production (E&P) company, based on proved reserves and production of liquids and natural gas.
2012 | It’s Time!
2013 | Life Saving Rules
2014 | Eagle Ford – 100 million barrels
2015 | First oil at Surmont 2
2016 | First cargo from APLNG
2017 | Black Employee Network – 30 Years
2018 | New corporate headquarters
2019 | Ekofisk – 50 years
2020 | Global Water Sustainability Center – 10 years
2021 | Welcome Concho Resources!
What people are saying about ConocoPhillips
“It’s all about the people. The can-do spirit, focus on safety and innovation to deliver our best results.
“It’s a blessing to work for a company that takes pride in giving back.
“I'm excited to be part of a company that is shaping the oil and gas industry.
“As I’ve grown and changed, I’ve seen the company grow and change. I’m proud to work for a company that can grow and change with us.
“I’m looking forward to us continuing to be the best in the industry… the place where people are clamoring to get in the door.”
“We have an organization that has very high integrity; it’s very collaborative; we have mutual respect for each other and there’s open and transparent communication. That just makes it a great place to work.