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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 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 6.4 billion barrels of oil equivalent. It produced about 1.5 million barrels per day.


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 generates around 45% of revenue and operates in the Gulf Coast, Mid-Continent, and Rockies). It contributes around 30% of ConocoPhillips' worldwide liquids production and more than 30% of its natural gas production.

The Asia Pacific and Middle East segment brings in around 15% of total sales has exploration and production operations in China, Indonesia, Malaysia, and Australia; producing operations in Qatar and Timor-Leste; and exploration activities in Brunei. The segment accounts for around 15% of the company's liquids production and some 35% of its natural gas production.

The Europe and North Africa segment accounts for 15% of revenue and consists of operations and exploration activities in Norway, the UK, and Libya. It contributes around 15% ConocoPhillips' worldwide liquids production and more than 10% of its natural gas production.

The Alaska segment contributes 15% of total revenue, including about 20% of the company's worldwide liquids production and 1% of its natural gas production.

Canadian operations (natural gas fields in western Canada and oil sands developments in northeastern Alberta) bring in 10% of sales and accounts for nearly 25% of ConocoPhillips' worldwide liquids production and around 15% 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, the UK, Canada, Australia, Timor-Leste, Indonesia, China, Malaysia, Qatar, and Libya. The US accounts for more than 60% of the company's revenue.

In the Lower 48 its biggest holdings are the 620,000 acre holding in Bakken, North Dakota and eastern Montana; and the 213,000 acre holding in Eagle Ford, South Texas.

In Canada its largest holdings are the 1.3 million acre Deep Basin in northwest Alberta; the 700,000 acre Kaybob-Edson Area south of Deep Basin; and the 800,000 acre Clearwater holding south of Kaybob-Edson.

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 Britannia natural gas field (UK) in the North Sea. It also has a stake in the Waha field in Libya, although this was captured by Islamic State/Daesh in 2015.

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.

Financial Performance

A slump in the oil price has hurt ConocoPhillips' financial performance in recent years.

A $24.5 billion fall in fiscal 2015 was compounded by a further $5.9 billion (or 20%) fall to $23.7 billion in fiscal 2016 due to a further decrease in average oil prices over the year (although prices improved in the latter part of the year). It also recorded lower sales volumes for crude oil and natural gas, although bitumen sales rose.

The company lost $3.6 billion, a 19% improvement on prior year. The small improvement was down to lower exploration expenses amid reduced leasehold impairments, lower property and equity investment impairments, lower production and operating expenses, a tax benefit of $161 million, and the absence of a tax charge of $129 million incurred the previous year. However, despite these improvements, the low oil price means the company continues to be deeply loss-making.

Cash from operations was $4.4 billion, a 42% fall on 2015. The decrease was due to lower prices across all commodities.


To improve its cash position and debt levels, ConocoPhillips is selling of vast swathes of its lower-margin natural gas assets. It is selling off most of its gas fields in Canada to partner Cenovus, including the Elmworth-Wapiti, Kaybob-Edson, and Clearwater fields. It also agreed to sell all its San Juan assets. Having already iterated an ambitious debt-reduction strategy in 2016, the company is accelerating the strategy even further, and now plans to reduce debt to less than $15 billion by year-end 2019. The plan will have significant positive effects on the business, sharply constricting its cash-to-debt ratio and reducing annual interest payments by around $300 million. The sell-offs also reduce the company's exposure to less profitable gas production while tightening its focus on its higher margin oil and liquids assets.


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): 10,800

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