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2019 Vault Rankings

At a Glance


Good pay and benefits.

Great work environment.


Office politics.

Uncertainty exists about how the recent division of the company will shake out.

The Bottom Line

ConocoPhillips is a good place to work, but ambitious employees say it's hard to move up, and women and minorities say it often seems like a good-ole-boy network.

About Conocophillips

Proudly combining the two venerable oil industry names of Conoco and Phillips, ConocoPhillips is the world's largest independent exploration and production company based on reserves and oil production. Once a fully integrated oil company (upstream and downstream) ConocoPhillips now focuses on exploration and production (having spun off its downstream activities as Phillips 66 in 2012). The company explores for, produces, transports, and sells crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids (NGLs) around the world. ConocoPhillips explores for oil and gas in more than 15 countries and has proved reserves of 5.3 billion barrels of oil equivalent. It produces about 1.5 million barrels per day and generates most of its sales in the US (approximately 65%).


ConocoPhillips divides its operations by region: Lower 48 (the US mainland), Europe and North Africa, the Asia Pacific Region and Middle East, Alaska, and Canada (as well as a small Corporate and Other segment).

The Lower 48 segment generates around 45% of revenue and operates in the U.S. and the Gulf of Mexico. It contributes around 40% of ConocoPhillips' worldwide liquids production and more than 20% of its natural gas production.

The Europe and North Africa segment accounts for more than 15% of revenue and is active mainly in Norway, the UK, and Libya. It contributes more than 15% ConocoPhillips' worldwide liquids and natural gas production.

The Alaska segment contributes roughly 15% of total revenue. It accounts for approximately 25% of the company's worldwide liquids production and less than 1% natural gas.

The Asia Pacific and Middle East segment brings in almost 15% of total sales has exploration and production operations in China, Indonesia, Malaysia, and Australia; production operations in Qatar and Timor-Leste. The segment accounts for around 15% of the company's liquids production and some 60% of its natural gas production. ConocoPhillips' Canadian operations (natural gas fields in western Canada and oil sands developments in northeastern Alberta) bring in approximately 5% of sales and accounts for more than 5% of worldwide liquids production and less than 1% of its natural gas production.

Geographic Reach

Houston-based ConocoPhillips has oil and gas assets in Asia, Australia, Europe, North Africa, and North America. The company has oil production assets in the US, Norway, Canada, Australia, Timor-Leste, Indonesia, China, Malaysia, Qatar, and Libya. The US accounts for approximately 65% of the company's revenue.

In the Lower 48 its biggest holdings are the 610,000 acre holding in the Bakken formation in North Dakota and Eastern Montana; about 235,000 acres in Louisiana; and more than 200,000 in the Eagle Ford formation in South Texas.

In Canada its largest holding is an oil sands development in the Athabasca Region of northeastern Alberta and a liquids-rich formation in Western Canada.

Its Alaska operation is the biggest producer of crude oil in North America. It has major ownership stakes in two of the continents largest oil fields, Prudhoe Bay and Kuparuk on Alaska's North Slope.

In Europe and North Africa, its major assets include the Greater Ekofisk Area (Norway) and Heidrunfield (UK) in the Norwegian Sea.

Its major assets in the Asia-Pacific region include the Bowen and Surat basins in Queensland, Australia, and the Bayu-Undan field between Timor-Leste and Australia.

Sales and Marketing

ConocoPhillips' worldwide commodity portfolio (natural gas, crude oil, bitumen, NGLs and LNG) is marketed through offices in the US, Canada, Europe and Asia. Commodity sales (made at prevailing market prices) are boosted through the purchase of third-party volumes for better economies of scale in trading transactions.

Natural gas is sold to a diverse client portfolio which includes local distribution companies; gas and power utilities; large industrial enterprises; oil and gas exploration and production companies; and marketing companies.

Crude oil, bitumen, and natural gas liquids are sold under contracts with prices based on market indices, adjusted for location, quality and transportation.

LNG is primarily sold under long-term contracts with prices based on market indices.

Financial Performance

ConocoPhillips' financial performance is closely tied to the vagaries of global oil prices. As such, over the last five years the company's sales and profits have followed a sharp "v" shape, hitting lows in 2016 before rebounding. Compared to the company's revenue in 2015, ConocoPhillips' revenue increased by 10% to $32.6 billion in 2019.

In 2019, the company's sales fell about 11% to $32.6 billion due realized crude oil,natural gas and NGL prices, partly offset by higher sales volumes of crude oil in the Lower 48 and Alaska.

ConocoPhillips reported net income of $7.2 billion, almost 15% increase compared to $6.3 billion in 2018. The increase was primarily due to after-tax gain associated with the completion of the sale of two ConocoPhillips UK subsidiaries to Chrysaor E&P Limited, unrealized gain after-tax on Cenovus Energy (CVE) common shares in 2019, higher crude oil sales volume due to growth in the Lower 48 and income tax benefits.

ConocoPhillips' cash on hand fell $789 million during 2019, ending the year at $5.4 billion. The company's operations generated $11.1 billion, offset by the $6.6 billion used in its investing activities and the $5.2 billion used in its financing. ConocoPhillips' main cash uses in 2019 were capital expenditures and investments, debt repayments, share repurchases, and dividends.


While conditions are good, ConocoPhillips is taking steps to shore up its balance sheet and reduce debt. It has been selling of vast swathes of its lower-margin natural gas assets, raising billions. In early 2020, the company entered into an agreement of selling its interests in certain non-core properties for $186 million, plus customary adjustments. In late 2019, the company sold its interests in the Magnolia Field in the Gulf of Mexico, and in a separate transaction, the company also entered into an agreement of selling its interests in the Niobrara, with an anticipated closing date in early 2020. To support its strategy, the company optimize its asset portfolio to focus on low cost of supply assets.

The company is focusing on financial returns, maintain a strong balance sheet, deliver compelling returns of capital, and expand cash flow through disciplined capital investments. Invest capital to sustain production and pay and grow its existing dividend and invest capital in a disciplined fashion to grow the company's cash from operations are few of ConocoPhillips' priorities. The company strives to attract, develop and retain individuals with the knowledge and skills.

Mergers and Acquisitions

In mid-2019, ConocoPhillips announced its 100% acquisition of the Nuna discovery.


925 N Eldridge Pkwy
Houston, TX 77079-2703
Phone: 1 (281) 293-1000

Firm Stats

Employer Type: Publicly Owned
Stock Symbol: COP
Stock Exchange: , NYSE
EVP Strategy, Exploration and Technology: Matthew J Fox
Chairman and CEO: Ryan M. Lance
EVP Finance, Commercial and CFO: Donald E. Wallette
Employees (This Location): 3,000
Employees (All Locations): 10,400

Major Office Locations

Houston, TX

Other Locations

Anchorage, AK
Kenai, AK
Nuiqsut, AK
Prudhoe Bay, AK
Chatom, AL
Madison, AL
Mobile, AL
Little Rock, AR
Searcy, AR
Texarkana, AR
Chandler, AZ
Tempe, AZ
Tucson, AZ
Arcadia, CA
Arroyo Grande, CA
Atascadero, CA
Bakersfield, CA
Bellflower, CA
Citrus Heights, CA
Coalinga, CA
Cypress, CA
Los Angeles, CA
Lost Hills, CA
Lynwood, CA
Martinez, CA
Ontario, CA
Orange, CA
Pasadena, CA
Placentia, CA
San Mateo, CA
San Pedro, CA
Santa Ana, CA
Santa Maria, CA
Santa Paula, CA
Taft, CA
Wilmington, CA
Arvada, CO
Aurora, CO
Bellvue, CO
Berthoud, CO
Boulder, CO
Castle Rock, CO
Colorado Springs, CO
Commerce City, CO
Denver, CO
Durango, CO
Englewood, CO
Fort Lupton, CO
Golden, CO
Highlands Ranch, CO
Lafayette, CO
Lakewood, CO
Littleton, CO
Longmont, CO
Monument, CO
Pueblo, CO
Superior, CO
Thornton, CO
Westminster, CO
Washington, DC
Odessa, DE
Daytona Beach, FL
Tampa, FL
Atlanta, GA
Dalton, GA
Duluth, GA
Macon, GA
Honolulu, HI
Des Moines, IA
Twin Falls, ID
Edwardsville, IL
Wood River, IL
East Chicago, IN
Cassoday, KS
Halstead, KS
Lawrence, KS
Olathe, KS
Overland Park, KS
Shawnee Mission, KS
Wichita, KS
Abbeville, LA
Baton Rouge, LA
Crowley, LA
Deridder, LA
Lake Charles, LA
Mamou, LA
Maurice, LA
Sulphur, LA
Westlake, LA
Austin, MN
Minneapolis, MN
Saint Paul, MN
Wrenshall, MN
Blue Springs, MO
Chesterfield, MO
Chillicothe, MO
Gladstone, MO
Imperial, MO
Independence, MO
Kansas City, MO
Liberty, MO
Macon, MO
Mount Vernon, MO
Saint Charles, MO
Saint Louis, MO
Springfield, MO
Villa Ridge, MO
Warrensburg, MO
Gulfport, MS
Summit, MS
Billings, MT
Bozeman, MT
Cut Bank, MT
Great Falls, MT
Helena, MT
Roundup, MT
Watford City, ND
Roca, NE
Sidney, NE
Valentine, NE
Linden, NJ
Bloomfield, NM
Farmington, NM
Hobbs, NM
Lovington, NM
Santa Fe, NM
Carlin, NV
Las Vegas, NV
Henderson Harbor, NY
Riverhead, NY
Bartlesville, OK
Bethany, OK
Cushing, OK
Elk City, OK
Guymon, OK
Jenks, OK
Kellyville, OK
Medford, OK
Oklahoma City, OK
Ponca City, OK
Clackamas, OR
Newberg, OR
Portland, OR
Salem, OR
Library, PA
Marcus Hook, PA
North Wales, PA
Anderson, SC
Hilton Head Island, SC
North Augusta, SC
Spartanburg, SC
Faith, SD
Madison, SD
Chattanooga, TN
Kingsport, TN
Knoxville, TN
Maryville, TN
Austin, TX
Bedford, TX
Borger, TX
Bryan, TX
Dallas, TX
Denver City, TX
Dumas, TX
Fort Worth, TX
Garland, TX
Goldsmith, TX
Graham, TX
Gruver, TX
Hamlin, TX
Houston, TX
Hurst, TX
Irving, TX
Kingwood, TX
Lubbock, TX
Mertzon, TX
Midland, TX
Mirando City, TX
Mont Belvieu, TX
Mount Pleasant, TX
Perryton, TX
Plano, TX
San Antonio, TX
Wichita Falls, TX
Layton, UT
Logan, UT
North Salt Lake, UT
Ogden, UT
Price, UT
Salt Lake City, UT
Taylorsville, UT
West Jordan, UT
Manassas, VA
Norfolk, VA
Auburn, WA
Bellevue, WA
Covington, WA
Kent, WA
Lakewood, WA
Moses Lake, WA
Puyallup, WA
Richland, WA
Seattle, WA
Spokane, WA
Spokane Valley, WA
Woodinville, WA
Dodgeville, WI
Evansville, WY
Lysite, WY
Rock Springs, WY
Sheridan, WY
Sinclair, WY
Beijing, China
Brooks, Canada
Calgary, Canada
Chetwynd, Canada
Claresholm, Canada
Drayton Valley, Canada
Eckville, Canada
Edson, Canada
Fort Mcmurray, Canada
Fort St. John, Canada
Grande Cache, Canada
Grande Prairie, Canada
Guelph, Canada
Hanna, Canada
Morrin, Canada
Niton Junction, Canada
Red Deer, Canada
Rimbey, Canada
St. John'S, Canada
Trochu, Canada
Vauxhall, Canada
Vulcan, Canada
Tananger, Norway
Moscow, Russia
Middlesbrough, England
Bogota, Colombia
Caracas, Venezuela