Our history: 2019-2010

2019

Dispositions Yield $3 Billion

Full-Year 2019 – Proceeds were primarily from divestment of United Kingdom assets and Greater Sunrise Fields in Timor-Leste; entered into agreements for sales of Australia-West business unit and Niobrara assets in Colorado to be completed in 2020.

“Big 3” Hits Production Record

Fourth-Quarter 2019 – Production from Eagle Ford, Bakken and Permian reaches record 387,000 BOPD.

“Big 3” Production Soars

July 2019 – Second-quarter production from Eagle Ford, Bakken and Permian reaches record 367,000 BOPD.

Greater Sunrise Fields Sold

April 2019 – Interests in undeveloped natural gas field offshore Timor-Leste sold for $350 million.

International Production Milestones

March 2019 – Achieved peak production from Norway’s Aasta Hansteen Field, and rising production from Bohai Phase 3 in China.

Favorable Ruling on Expropriation Compensation

March 2019 – An International Centre for Settlement of Investment Disputes ruling ordered Venezuela to pay $8.7 billion for unlawful expropriation of company’s assets.

Alaska Exploration Proceeds

March 2019 – Completed winter exploration with encouraging results from Greater Willow Area and Narwhal appraisal tests.

2018

Five Major-Project Startups

Full-Year 2018 – First production achieved from Bayu-Undan final development phase offshore Timor-Leste, GMT-1 in Alaska, Bohai Phase 3 in China, Aasta Hansteen in Norway and Clair Ridge in U.K.

GMT-2 Development Sanctioned

October 2018 – Greater Mooses Tooth-2 development in National Petroleum Reserve-Alaska sanctioned; multi-year construction began over the winter.

Settlement with PDVSA

August 2018 – Venezuelan national oil company agreed to pay ConocoPhillips $2 billion in ICC arbitration award for asset appropriation; $430 million was recognized toward the settlement during the year.

Greater Willow’s Potential Announced

July 2018 – Alaska discovery’s resources estimated at 400-750 million barrels plus undrilled upside potential, justifying stand-alone hub development; first oil would be 2024-2025.

Kuparuk Interests Added

July 2018 – Acquired additional acreage and transportation interests in Greater Kuparuk Area in Alaska.

W. North Slope Interests Expanded

June 2018 – Acquired Anadarko’s non-operated interests in Alaska Western North Slope and Alpine pipeline for $400 million.

Montney Acreage Added

April 2018 – Increased holdings in Canada’s liquids-rich Montney by 37,000 acres, or more than 30 percent.

2017

Portfolio Upgrading Yields Results

Full-Year 2017 – Company generated $16 billion from dispositions of non-core assets, including Foster Creek & Christina Lake oil sands ventures, San Juan business unit & Western Canada gas holdings.

Debt Reduction Progress

December 2017 – Debt paydown of $7.6 billion cut year-end debt to $19.7 billion, and a July 2018 paydown of $4.7 billion reduced total debt to target $15 billion level 18 months early.

Withstanding a Hurricane

September 2017 – ConocoPhillips quickly resumed production after Hurricane Harvey struck Texas and Louisiana, while supporting employee and community recovery efforts.

2016

Achieved First Oil

December 2016 – Startup occurred on Malikai tension-leg platform in Malaysia.

Share Buybacks

November 2016 – Initiated share buybacks that with two increased authorizations later totaled $15 billion through 2020.

Updated Value Proposition Announced

November 2016 – Company will focus on maximizing cash flow generation, with clearly defined priorities guiding cash allocations.

First Cargo from Australia Pacific LNG

January 2016 – We exported the first cargo of liquefied natural gas from our APLNG facility on Curtis Island in Queensland, Australia.

2015

First Export Cargo of U.S. Crude Oil After Lifting of Crude Oil Export Ban

December 2015 – ConocoPhillips and NuStar achieved the nation's first export cargo of U.S.-produced light crude oil since the 40-year-old ban was lifted Dec. 18.

U.S. Lifts Crude Oil Export Ban

December 2015 – We were an important voice throughout the year in the effort to lift the 40-year-old ban.

First Oil from Alpine Field in
NPR-A

October 2015 – We begin producing oil at CD5, the first oil development within the National Petroleum Reserve-Alaska (NPR-A).

First Oil at Alaska's Kuparuk Drill Site 2S

October 2015 – We begin producing oil at Kuparuk Drill Site 2S (DS2S), the first new Kuparuk drill site in 12 years, under budget and ahead of schedule.

First Oil at Surmont 2

September 2015 – We safely deliver first oil at our Surmont 2 in-situ oil sands facility, successfully moving from the capital phase to the production phase of this megaproject.

Development Drilling Begins in NPR-A

August 2015 – We begin development drilling at CD5, the first oil development within the National Petroleum Reserve-Alaska (NPR-A).

Oil Production Startup in Norwegian North Sea

January 2015 – Oil production begins from the Eldfisk II project in the North Sea. This is our second major startup in Norway since late 2013.

2014

Lance Leads Call for Lifting Exports Ban

November 2014 – Chairman and CEO Ryan Lance addresses the IPAA Annual Meeting, kicking off a yearlong initiative to lift the ban on crude oil exports.

Gas Production Startup in Malaysia

November 2014 – Gas production begins from the Kebabangan (KBB) gas field, located approximately 60 miles offshore Malaysia.

Second Oil Discovery Offshore Senegal

November 2014 – We discover oil in the SNE-1 well, the second of our two-well program, located approximately 60 miles offshore Senegal.

Oil Production Startup in Malaysia

October 2014 – We achieve first oil production from the Gumusut-Kakap Floating Production Facility, located approximately 75 miles offshore Sabah, Malaysia.

Oil Discovery Offshore Senegal

October 2014 – We discover oil in the FAN-1 exploration well, located approximately 60 miles offshore Senegal.

Nigeria Upstream Business Sold

July 2014 – Oando Energy Resources (OER), a subsidiary of Oando PLC, acquires our Nigeria upstream business for $1.5 billion.

Polar Tankers Wins U.S. Coast Guard Maritime Award

June 2014 – The U.S. Coast Guard recognizes Polar Tankers, a ConocoPhillips subsidiary, with its highest environmental award, the Rear Admiral William M. Benkert Osprey Award for Environmental Excellence.

ConocoPhillips Center Established at Colorado School of Mines

March 2014 – Together, the Colorado School of Mines and ConocoPhillips establish the ConocoPhillips Center for a Sustainable WE²ST (Water-Energy Education, Science and Technology) to support research and education that promote joint sustainability of unconventional energy production and water resources.

2013

Gas Production Startup in Central North Sea

November 19, 2013 – We achieve first gas production from the Jasmine field in the United Kingdom, Central North Sea.

Kashagan Interest Sold

October 2013 – KazMunayGas (KMG) acquires our 8.4 percent interest in the North Caspian Sea Production Sharing Agreement (Kashagan) for approximately $5.4 billion.

First Oil at Ekofisk South

October 2013 – One of our 35 planned production wells begins producing in the Norwegian North Sea.

2012

First Production at Gumusut

November 2012 – The Gumusut well in offshore Malaysia begins producing oil.

Major APLNG Milestone

July 2012 – The sanctioning of the development of a second production train for our Queensland-based Australia Pacific LNG project marks the final step in the project's approval process.

ConocoPhillips and Phillips 66 Formed

May 1, 2012 – The repositioning of ConocoPhillips is complete, and the companies begin trading separately on the New York Stock Exchange. Ryan Lance is named chairman and chief executive officer of ConocoPhillips, the world’s largest independent exploration and production company based on production and reserves. There are over 16,000 employees in 30 countries.

2011

ConocoPhillips, GE and NRG Renewables JV

In a joint venture with General Electric and NRG Energy, ConocoPhillips creates Energy Technology Ventures to focus on the development of next-generation energy technologies for renewable power generation, smart grids, energy efficiency, oil, natural gas, coal and nuclear energy, emission controls, water and biofuels.

ConocoPhillips Sells LUKOIL Holdings

During the first quarter, ConocoPhillips sold its final LUKOIL holdings, completing a multiyear divestment process.

BOD Approves Pursuit of ConocoPhillips Separation

The board of directors of ConocoPhillips approves pursuing the separation of the company’s Refining & Marketing and Exploration & Production businesses into 2 stand-alone, publicly traded corporations, Phillips 66 and ConocoPhillips.

2010

ConocoPhillips and GE Global Water Sustainability Center

ConocoPhillips and General Electric open a global water sustainability center in Qatar to examine ways of treating and recycling byproduct water from oil and gas production and refining operations, as well as other projects related to industrial and municipal water sustainability.