2023 Production Mix
Full-year 2023 production in the Lower 48 segment was 1,067 MBOED.
The Lower 48 represents the largest ConocoPhillips business segment today based on production, with high-quality positions in the U.S. unconventionals. These durable, low cost of supply and low GHG-intensity assets have significant upside potential.
The company’s large Lower 48 position represents scalable inventory with low cost of supply and low GHG emissions intensity with the potential to generate significant returns over many years of future development. Current major focus areas for the Lower 48 include the Delaware and Midland Basins, part of the world-class Permian Basin, as well as the Eagle Ford and Bakken.
ConocoPhillips, through its subsidiaries comprising its Lower 48 business segment (ConocoPhillips), is a leader in U.S. unconventionals and is utilizing technology to enhance value and deliver continuous improvements. The ability to leverage learnings across basins uniquely positions the company for compounding success across a deep inventory of future projects.
Lower 48 at a glance
As of December 31, 2023
1,067 MBOED
Production
3.1 BBOE
Proved reserves
$6.5 B
Capital spend
10.3 MM
Net acreage
Lower 48 HSE Handbook
Click the link below to access the handbook. The handbook will also be available in the COP App Store.