8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (date of earliest event reported):   April 30, 2020

ConocoPhillips
(Exact name of registrant as specified in its charter)

Delaware	001-32395	01-0562944
(State or other jurisdiction of	(Commission	(I.R.S. Employer
incorporation)	File Number)	Identification No.)

925 N. Eldridge Parkway
Houston, Texas 77079
(Address of principal executive offices and zip code)

Registrant’s telephone number, including area code:  (281) 293-1000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $.01 Par Value Per Share	COP	New York Stock Exchange
7% Debentures due 2029	CUSIP-718507BK1	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

1

Item 2.02 Results of Operations and Financial Condition.

On April 30, 2020 ConocoPhillips issued a press release announcing the company's financial and operating results for the quarter ended March 31, 2020.  A copy of the press release is furnished as Exhibit 99.1 hereto and incorporated herein by reference.  Additional financial and operating information about the quarter is furnished as Exhibit 99.2 hereto and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.		Description
99.1	—	Press release issued by ConocoPhillips on April 30, 2020.
99.2	—	Supplemental financial information.
104	—	Cover Page Interactive Data File (formatted as Inline XBRL and filed herewith).

2

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	CONOCOPHILLIPS
	/s/ Catherine A. Brooks
	Catherine A. Brooks Vice President and Controller
April 30, 2020

3

EX-99.1

Exhibit 99.1

ConocoPhillips Reports First-Quarter 2020 Results; Announces Quarterly Dividend and Additional Curtailments

HOUSTON--(BUSINESS WIRE)--April 30, 2020--ConocoPhillips (NYSE: COP) today reported a first-quarter 2020 loss of $1.7 billion, or ($1.60) per share, compared with first-quarter 2019 earnings of $1.8 billion, or $1.60 per share. Excluding special items, first-quarter 2020 adjusted earnings were $0.5 billion, or $0.45 per share, compared with first-quarter 2019 adjusted earnings of $1.1 billion, or $1.00 per share. Special items for the current quarter were primarily driven by an unrealized loss on Cenovus Energy equity and price-driven non-cash impairments.

Quarterly Dividend

The company also announced a quarterly dividend of 42 cents per share, payable June 1, 2020, to stockholders of record at the close of business on May 11, 2020.

First-Quarter Highlights

• Cash provided by operating activities was $2.1 billion. Excluding working capital, cash from operations (CFO) was $1.6 billion.
• Ended the quarter with cash, cash equivalents and restricted cash totaling $4.2 billion and short-term investments of $3.9 billion, equaling more than $8.0 billion in ending cash and short-term investments.
• Ended the quarter with approximately $14 billion of liquidity, including $6 billion of available revolving credit facility.
• Repurchased $0.7 billion of shares and paid $0.5 billion in dividends.
• Achieved first-quarter production, excluding Libya, of 1,278 MBOED.
• Produced 399 MBOED from the Lower 48 Big 3 unconventionals.
• Started up first Montney pad and infrastructure.
• Generated $0.5 billion in disposition proceeds from Lower 48 non-core asset sales.

First-Quarter Review

Production excluding Libya for the first quarter of 2020 was 1,278 thousand barrels of oil equivalent per day (MBOED), a decrease of 40 MBOED from the same period a year ago. Adjusting for closed and pending dispositions, production increased 52 MBOED primarily due to growth from the Big 3, as well as development programs in Europe, Asia Pacific and Lower 48. This growth more than offset normal field decline and impacts from a third-party pipeline outage on the Kebabangan Field in Malaysia. Production from Libya averaged 11 MBOED.

In the Lower 48, production from the Big 3 averaged 399 MBOED, including Eagle Ford of 233 MBOED, Bakken of 96 MBOED and Permian Unconventional of 70 MBOED. In Alaska, the company progressed construction on the multi-year GMT-2 project, which remains on track for startup in late 2021. The company also completed drilling two wells to further appraise the Willow discovery and one well to test the Harpoon prospect, prior to early termination of the 2020 winter exploration program to minimize risks associated with COVID-19. In Canada, the first phase of development at Montney was initiated with the startup of a 14-well pad and associated infrastructure. Additionally, a planned 24-day turnaround in Qatar was completed.

Earnings decreased from first-quarter 2019 due to a change in Cenovus Energy equity market value, lower realized prices, and price-driven non-cash impairments. Excluding special items, adjusted earnings were lower compared with first-quarter 2019 due to lower realized prices and volumes, partially offset by decreases in operating costs. Dry hole and lease impairment expenses totaled $67 million pre-tax for the quarter, primarily for the Kamunsu East Field in Malaysia that is no longer in our development plans, as well as a dry hole in Norway. The company’s total average realized price was $38.81 per barrel of oil equivalent (BOE), 23 percent lower than the $50.59 per BOE realized in the first quarter of 2019, reflecting lower marker prices.

For the quarter, cash provided by operating activities was $2.1 billion. Excluding a $0.5 billion change in operating working capital, ConocoPhillips generated CFO of $1.6 billion. CFO included a non-cash downward inventory valuation adjustment of $0.2 billion driven by lower commodity prices, which was offset in operating working capital. The company also generated $0.5 billion in disposition proceeds from the sale of the Lower 48 Niobrara and Waddell assets. In addition, the company funded $1.6 billion of capital expenditures and investments, repurchased $0.7 billion of shares, and paid $0.5 billion in dividends. Capital expenditures and investments included approximately $0.1 billion for payments toward the 2019 Argentina acreage acquisition, as well as bolt-on acquisitions in Lower 48. The company also purchased $0.9 billion of short-term and long-term financial instruments.

Other Items

Upcoming operational activities for the company include several seasonal turnarounds and maintenance projects typically conducted in the second and third quarters each year. These activities are planned in Alaska, Norway and various areas in the Asia Pacific region.

The company recently announced that it expects to voluntarily curtail production due to weak prices. Voluntary curtailments for the month of May are now estimated to be 265 thousand barrels of oil per day (MBOD) gross, comprised of 165 MBOD gross in the Lower 48 and 100 MBOD gross at Surmont. This represents approximately 230 MBOED on a net basis.

The company currently estimates voluntary curtailments for the month of June will be 460 MBOD gross, comprised of 260 MBOD gross in the Lower 48, 100 MBOD gross at Surmont and 100 MBOD gross in Alaska. This represents approximately 420 MBOED on a net basis.

Future voluntary curtailment decisions across our areas of operations will be made on a month-by-month basis. Daily net barrel oil equivalent impacts may vary from estimates due to differences in working interests and product mixes.

The company also expects some level of additional curtailments from infrastructure constraints, actions from partner-operated assets or government mandates.

Given ongoing uncertainty, continued market volatility, and production curtailments over the coming months, the company recently announced that its original 2020 guidance items should not be relied upon and that further guidance has been temporarily suspended. During this suspension, the company may provide periodic updates, as appropriate. In addition, the previously provided net income and cash flow sensitivities should not be relied upon as current marker prices are outside the reference price ranges to which the previous sensitivities applied.

ConocoPhillips will host a conference call today at 12:00 p.m. Eastern time to discuss this announcement. To listen to the call and view related supplemental information, go to www.conocophillips.com/investor.

--- # # # ---

About ConocoPhillips

Headquartered in Houston, Texas, ConocoPhillips had operations and activities in 17 countries, $65 billion of total assets, and approximately 10,400 employees as of March 31, 2020. Production excluding Libya averaged 1,278 MBOED for the three months ended March 31, 2020, and proved reserves were 5.3 BBOE as of Dec. 31, 2019. For more information, go to www.conocophillips.com.

CAUTIONARY STATEMENT FOR THE PURPOSES OF THE "SAFE HARBOR" PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

This news release contains forward-looking statements as defined under the federal securities laws. Forward-looking statements relate to future events and anticipated results of operations, business strategies, and other aspects of our operations or operating results. Words and phrases such as "anticipate," "estimate," "believe," “budget,” "continue," "could," "intend," "may," "plan," "potential," "predict," “seek,” "should," "will," “would,” "expect," "objective," "projection," "forecast," "goal," "guidance," "outlook," "effort," "target" and other similar words can be used to identify forward-looking statements. However, the absence of these words does not mean that the statements are not forward-looking. Where, in any forward-looking statement, the company expresses an expectation or belief as to future results, such expectation or belief is expressed in good faith and believed to be reasonable at the time such forward-looking statement is made. However, these statements are not guarantees of future performance and involve certain risks, uncertainties and other factors beyond our control. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in the forward-looking statements. Factors that could cause actual results or events to differ materially from what is presented include the impact of public health crises, such as pandemics (including coronavirus (COVID-19)) and epidemics and any related company or government policies and actions to protect the health and safety of individuals or government policies or actions to maintain the functioning of national or global economies and markets; global and regional changes in the demand, supply, prices, differentials or other market conditions affecting oil and gas and the resulting company actions in response to such changes, including changes resulting from the imposition or lifting of crude oil production quotas or other actions that might be imposed by the Organization of Petroleum Exporting Countries and other producing countries; changes in commodity prices; changes in expected levels of oil and gas reserves or production; operating hazards, drilling risks, unsuccessful exploratory activities; unexpected cost increases or technical difficulties in constructing, maintaining, or modifying company facilities; legislative and regulatory initiatives addressing global climate change or other environmental concerns; investment in and development of competing or alternative energy sources; disruptions or interruptions impacting the transportation for our oil and gas production; international monetary conditions and exchange rate fluctuations; changes in international trade relationships, including the imposition of trade restrictions or tariffs on any materials or products (such as aluminum and steel) used in the operation of our business; our ability to collect payments when due under our settlement agreement with PDVSA; our ability to collect payments from the government of Venezuela as ordered by the ICSID; our ability to liquidate the common stock issued to us by Cenovus Energy Inc. at prices we deem acceptable, or at all; our ability to complete our announced dispositions or acquisitions on the timeline currently anticipated, if at all; the possibility that regulatory approvals for our announced dispositions or acquisitions will not be received on a timely basis, if at all, or that such approvals may require modification to the terms of our announced dispositions, acquisitions or our remaining business; business disruptions during or following our announced dispositions or acquisitions, including the diversion of management time and attention; the ability to deploy net proceeds from our announced dispositions in the manner and timeframe we currently anticipate, if at all; potential liability for remedial actions under existing or future environmental regulations; potential liability resulting from pending or future litigation; the impact of competition and consolidation in the oil and gas industry; limited access to capital or significantly higher cost of capital related to illiquidity or uncertainty in the domestic or international financial markets; general domestic and international economic and political conditions; changes in fiscal regime or tax, environmental and other laws applicable to our business; and disruptions resulting from extraordinary weather events, civil unrest, war, terrorism or a cyber attack; and other economic, business, competitive and/or regulatory factors affecting our business generally as set forth in our filings with the Securities and Exchange Commission. Unless legally required, ConocoPhillips expressly disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

Cautionary Note to U.S. Investors – The SEC permits oil and gas companies, in their filings with the SEC, to disclose only proved, probable and possible reserves. We may use the term "resource" in this news release that the SEC’s guidelines prohibit us from including in filings with the SEC. U.S. investors are urged to consider closely the oil and gas disclosures in our Form 10-K and other reports and filings with the SEC. Copies are available from the SEC and from the ConocoPhillips website.

Use of Non-GAAP Financial Information – To supplement the presentation of the company’s financial results prepared in accordance with U.S. generally accepted accounting principles (GAAP), this news release and the accompanying supplemental financial information contain certain financial measures that are not prepared in accordance with GAAP, including adjusted earnings (calculated on a consolidated and on a segment-level basis), adjusted earnings per share and cash from operations (CFO).

The company believes that the non-GAAP measures adjusted earnings (both on an aggregate and a per-share basis) are useful to investors to help facilitate comparisons of the company’s operating performance associated with the company’s core business operations across periods on a consistent basis and with the performance and cost structures of peer companies by excluding items that do not directly relate to the company’s core business operations. The company further believes that the non-GAAP measure CFO is useful to investors to help understand changes in cash provided by operating activities excluding the timing effects associated with operating working capital changes across periods on a consistent basis and with the performance of peer companies. The company believes that the above-mentioned non-GAAP measures, when viewed in combination with the company’s results prepared in accordance with GAAP, provides a more complete understanding of the factors and trends affecting the company’s business and performance. The company’s Board of Directors and management also use these non-GAAP measures to analyze the company’s operating performance across periods when overseeing and managing the company’s business.

Each of the non-GAAP measures included in this news release and the accompanying supplemental financial information has limitations as an analytical tool and should not be considered in isolation or as a substitute for an analysis of the company’s results calculated in accordance with GAAP. In addition, because not all companies use identical calculations, the company’s presentation of non-GAAP measures in this news release and the accompanying supplemental financial information may not be comparable to similarly titled measures disclosed by other companies, including companies in our industry. The company may also change the calculation of any of the non-GAAP measures included in this news release and the accompanying supplemental financial information from time to time in light of its then existing operations to include other adjustments that may impact its operations.

Reconciliations of each non-GAAP measure presented in this news release to the most directly comparable financial measure calculated in accordance with GAAP are included in the release.

Other Terms – This news release also contains the terms liquidity and underlying production. Liquidity includes cash, cash equivalents, short-term investments and available borrowing capacity under the company’s revolving credit facility. The company believes liquidity is useful to investors to provide insight into the company’s ability to fund its business plans and debt obligations. Underlying production excludes Libya and reflects the impact of closed and pending dispositions with an assumed close date of January 1, 2019. The company believes that underlying production is useful to investors to compare production excluding Libya and reflecting the impact of closed and pending dispositions on a consistent go-forward basis across periods and with peer companies.

References in the release to earnings refer to net income/(loss) attributable to ConocoPhillips.

ConocoPhillips
Table 1: Reconciliation of earnings to adjusted earnings
$ Millions, Except as Indicated
	1Q20									1Q19
	Pre-tax		Income tax		After-tax			Per share of common stock (dollars)		Pre-tax		Income tax		After-tax		Per share of common stock (dollars)
Earnings					$	(1,739	)	(1.60	)					1,833		1.60
Adjustments:
Unrealized (gain) loss on CVE shares	1,691		-			1,691		1.56		(343	)	-		(343	)	(0.30	)
Impairments	770		(177	)		593		0.54		60		(13	)	47		0.04
Net gain on asset sales	38		(9	)		29		0.03		-		-		-		-
Unrealized (gain) loss on FX derivative	(75	)	16			(59	)	(0.05	)	6		(1	)	5		0.00
Pending claims and settlements	(29	)	-			(29	)	(0.03	)	(130	)	(68	)	(198	)	(0.17	)
Recognition of deferred revenue	-		-			-		-		(248	)	52		(196	)	(0.17	)
Adjusted earnings / (loss)					$	486		0.45						1,148		1.00
The income tax effects of the special items are primarily calculated based on the statutory rate of the jurisdiction in which the discrete item resides.

ConocoPhillips
Table 2: Reconciliation of reported production to underlying production
In MBOED, Except as Indicated
	1Q20	1Q19
Total Reported Production	1,289	1,361
Adjustments:
Libya	(11)	(43)
Total Production excluding Libya	1,278	1,318
Closed Dispositions1	(11)	(93)
Pending Dispositions2	(46)	(56)
Total Underlying Production	1,221	1,169
1Includes production from the completed U.K. and various Lower 48 dispositions. 2Includes production from the announced Australia-West disposition.

ConocoPhillips
Table 3: Reconciliation of liquidity position
In $ Millions, Except as Indicated
	Quarter-Ended 3/31/2020	Quarter-Ended 12/31/2019
Cash and cash equivalents	3,908	5,088
Short-Term Investments	3,866	3,028
Revolver	6,000	6,000
Total Liquidity	13,774	14,116

Contacts

John C. Roper (media)
281-293-1451
john.c.roper@conocophillips.com

Investor Relations
281-293-5000
investor.relations@conocophillips.com

EX-99.2

Exhibit 99.2

	First-Quarter 2020 Detailed Supplemental Information
	2019															2020
	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			Full Year			1st Qtr			2nd Qtr	3rd Qtr	4th Qtr	YTD
$ Millions, Except as Indicated
CONSOLIDATED INCOME STATEMENT
Revenues and Other Income
Sales and other operating revenues		9,150			7,953			7,756			7,708			32,567			6,158						6,158
Equity in earnings of affiliates		188			173			290			128			779			234						234
Gain (loss) on dispositions		17			82			1,785			82			1,966			(42	)					(42	)
Other income (loss)		702			172			262			222			1,358			(1,539	)					(1,539	)
Total Revenues and Other Income		10,057			8,380			10,093			8,140			36,670			4,811						4,811
Costs and Expenses
Purchased commodities		3,675			2,674			2,710			2,783			11,842			2,661						2,661
Production and operating expenses		1,271			1,418			1,331			1,302			5,322			1,173						1,173
Selling, general and administrative expenses		153			129			87			187			556			(3	)					(3	)
Exploration expenses		110			122			360			151			743			188						188
Depreciation, depletion and amortization		1,546			1,490			1,566			1,488			6,090			1,411						1,411
Impairments		1			1			24			379			405			521						521
Taxes other than income taxes		275			194			237			247			953			250						250
Accretion on discounted liabilities		86			87			86			67			326			67						67
Interest and debt expense		233			165			184			196			778			202						202
Foreign currency transactions (gain) loss		12			28			(21	)		47			66			(90	)					(90	)
Other expenses		8			14			36			7			65			(6	)					(6	)
Total Costs and Expenses		7,370			6,322			6,600			6,854			27,146			6,374						6,374
Income (loss) before income taxes		2,687			2,058			3,493			1,286			9,524			(1,563	)					(1,563	)
Income tax provision		841			461			422			543			2,267			148						148
Net Income (Loss)		1,846			1,597			3,071			743			7,257			(1,711	)					(1,711	)
Less: net income attributable to noncontrolling interests		(13	)		(17	)		(15	)		(23	)		(68	)		(28	)					(28	)
Net Income (Loss) Attributable to ConocoPhillips		1,833			1,580			3,056			720			7,189			(1,739	)					(1,739	)
Net Income (Loss) Attributable to ConocoPhillips
Per Share of Common Stock (dollars)
Basic		1.61			1.40			2.76			0.66			6.43			(1.60	)					(1.60	)
Diluted		1.60			1.40			2.74			0.65			6.40			(1.60	)					(1.60	)
Average Common Shares Outstanding (in thousands)*
Basic		1,139,463			1,125,995			1,108,555			1,095,606			1,117,260			1,084,561						1,084,561
Diluted		1,146,515			1,131,242			1,113,250			1,099,786			1,123,536			1,084,561						1,084,561
*Ending Common Shares Outstanding is 1,072,425 as of Mar. 31, 2020, compared with 1,084,868 as of Dec. 31, 2019.
INCOME (LOSS) BEFORE INCOME TAXES
Alaska		505			580			417			491			1,993			107						107
Lower 48		261			269			35			9			574			(562	)					(562	)
Canada		73			100			69			(6	)		236			(150	)					(150	)
Europe and North Africa		709			602			2,345			502			4,158			187						187
Asia Pacific and Middle East		730			642			606			509			2,487			569						569
Other International		130			87			75			(21	)		271			27						27
Corporate and Other		279			(222	)		(54	)		(198	)		(195	)		(1,741	)					(1,741	)
Consolidated		2,687			2,058			3,493			1,286			9,524			(1,563	)					(1,563	)
EFFECTIVE INCOME TAX RATES
Alaska*		23.9	%		20.5	%		26.6	%		24.7	%		23.7	%		24.3	%					24.3	%
Lower 48		26.2	%		23.1	%		27.7	%		-32.5	%		24.0	%		22.3	%					22.3	%
Canada		-66.4	%		-1.0	%		26.1	%		196.6	%		-18.3	%		26.8	%					26.8	%
Europe and North Africa		70.8	%		32.4	%		14.6	%		78.4	%		34.5	%		59.8	%					59.8	%
Asia Pacific and Middle East		26.2	%		17.1	%		-3.8	%		41.8	%		19.7	%		25.2	%					25.2	%
Other International		-1.3	%		6.6	%		4.4	%		-0.8	%		2.8	%		-2.0	%					-2.0	%
Corporate and Other		3.0	%		13.3	%		74.3	%		86.6	%		119.4	%		-1.9	%					-1.9	%
Consolidated		31.3	%		22.4	%		12.1	%		42.2	%		23.8	%		-9.5	%					-9.5	%
*Alaska including taxes other than income taxes.		38.1	%		25.8	%		40.6	%		38.2	%		35.4	%		61.2	%					61.2	%

	2019															2020
	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			Full Year			1st Qtr			2nd Qtr	3rd Qtr	4th Qtr	YTD
$ Millions
EARNINGS BY SEGMENT
Alaska		384			462			306			368			1,520			81						81
Lower 48		193			206			26			11			436			(437	)					(437	)
Canada		122			100			51			6			279			(109	)					(109	)
Europe and North Africa		207			407			2,001			109			2,724			75						75
Asia Pacific and Middle East		525			517			613			274			1,929			398						398
Other International		131			81			73			(22	)		263			28						28
Corporate and Other		271			(193	)		(14	)		(26	)		38			(1,775	)					(1,775	)
Consolidated		1,833			1,580			3,056			720			7,189			(1,739	)					(1,739	)
SPECIAL ITEMS
Alaska		-			81			(6	)		4			79			(120	)					(120	)
Lower 48		(47	)		(125	)		(110	)		(230	)		(512	)		(467	)					(467	)
Canada		68			66			-			-			134			(29	)					(29	)
Europe and North Africa		-			234			1,845			(7	)		2,072			(2	)					(2	)
Asia Pacific and Middle East		-			52			164			(151	)		65			(4	)					(4	)
Other International		147			84			86			-			317			29						29
Corporate and Other		517			45			163			273			998			(1,632	)					(1,632	)
Consolidated		685			437			2,142			(111	)		3,153			(2,225	)					(2,225	)
Detailed reconciliation of these items is provided on page 3.
ADJUSTED EARNINGS
Alaska		384			381			312			364			1,441			201						201
Lower 48		240			331			136			241			948			30						30
Canada		54			34			51			6			145			(80	)					(80	)
Europe and North Africa		207			173			156			116			652			77						77
Asia Pacific and Middle East		525			465			449			425			1,864			402						402
Other International		(16	)		(3	)		(13	)		(22	)		(54	)		(1	)					(1	)
Corporate and Other		(246	)		(238	)		(177	)		(299	)		(960	)		(143	)					(143	)
Consolidated		1,148			1,143			914			831			4,036			486						486
ADJUSTED EFFECTIVE INCOME TAX RATES
Alaska		23.9	%		25.6	%		25.2	%		25.4	%		25.0	%		23.0	%					23.0	%
Lower 48		25.3	%		23.0	%		23.1	%		20.5	%		23.0	%		18.0	%					18.0	%
Canada		26.7	%		20.8	%		26.1	%		196.6	%		19.5	%		27.2	%					27.2	%
Europe and North Africa		70.8	%		71.3	%		73.4	%		77.7	%		73.0	%		61.0	%					61.0	%
Asia Pacific and Middle East		26.2	%		24.6	%		23.3	%		28.9	%		25.8	%		25.1	%					25.1	%
Other International		9.6	%		-32.9	%		-2.7	%		-0.8	%		0.7	%		28.6	%					28.6	%
Corporate and Other		14.8	%		12.7	%		23.3	%		4.8	%		13.2	%		-13.9	%					-13.9	%
Consolidated		42.9	%		40.5	%		42.5	%		46.6	%		43.0	%		38.2	%					38.2	%

	2019															2020
$ Millions	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			Full Year			1st Qtr			2nd Qtr	3rd Qtr	4th Qtr	YTD
DETAILED SPECIAL ITEMS
Alaska
Impairments		-			-			-			-			-			(154	)					(154	)
Pending claims and settlements		-			69			-			-			69			-						-
Subtotal before income taxes		-			69			-			-			69			(154	)					(154	)
Income tax provision (benefit)1		-			(12	)		6			(4	)		(10	)		(34	)					(34	)
Total		-			81			(6	)		4			79			(120	)					(120	)
Lower 48
Impairments		(60	)		(95	)		(141	)		(386	)		(682	)		(561	)					(561	)
Gain (loss) on asset sales		-			-			-			82			82			(38	)					(38	)
Pending claims and settlements		-			(67	)		-			9			(58	)		-						-
Subtotal before income taxes		(60	)		(162	)		(141	)		(295	)		(658	)		(599	)					(599	)
Income tax provision (benefit)		(13	)		(37	)		(31	)		(65	)		(146	)		(132	)					(132	)
Total		(47	)		(125	)		(110	)		(230	)		(512	)		(467	)					(467	)
Canada
Impairments		-			-			-			-			-			(39	)					(39	)
Gain (loss) on asset sales		-			56			-			-			56			-						-
Subtotal before income taxes		-			56			-			-			56			(39	)					(39	)
Income tax provision (benefit)2		(68	)		(10	)		-			-			(78	)		(10	)					(10	)
Total		68			66			-			-			134			(29	)					(29	)
Europe and North Africa
Impairments		-			-			-			-			-			(11	)					(11	)
Gain (loss) on asset sales		-			-			1,752			(15	)		1,737			-						-
Subtotal before income taxes		-			-			1,752			(15	)		1,737			(11	)					(11	)
Income tax provision (benefit)3		-			(234	)		(93	)		(8	)		(335	)		(9	)					(9	)
Total		-			234			1,845			(7	)		2,072			(2	)					(2	)
Asia Pacific and Middle East
Gain (loss) on asset sales		-			5			-			-			5			-						-
Impairments		-			-			-			-			-			(5	)					(5	)
Qatar deferred tax adjustment		-			-			-			(118	)		(118	)		-						-
Pending claims and settlements		-			-			-			(2	)		(2	)		-						-
Subtotal before income taxes		-			5			-			(120	)		(115	)		(5	)					(5	)
Income tax provision (benefit)4		-			(47	)		(164	)		31			(180	)		(1	)					(1	)
Total		-			52			164			(151	)		65			(4	)					(4	)
Other International
Pending claims and settlements		147			89			89			-			325			29						29
Subtotal before income taxes		147			89			89			-			325			29						29
Income tax provision (benefit)		-			5			3			-			8			-						-
Total		147			84			86			-			317			29						29
Corporate and Other
Pension settlement expense		-			-			(37	)		(8	)		(45	)		-						-
Pending claims and settlements		(17	)		44			34			(17	)		44			-						-
Unrealized gain (loss) on CVE common shares		343			30			116			160			649			(1,691	)					(1,691	)
Unrealized gain (loss) on CAD FX derivative		(6	)		(24	)		15			(18	)		(33	)		75						75
Recognition of deferred revenue		248			-			49			-			297			-						-
Subtotal before income taxes		568			50			177			117			912			(1,616	)					(1,616	)
Income tax provision (benefit)5		51			5			14			(156	)		(86	)		16						16
Total		517			45			163			273			998			(1,632	)					(1,632	)
Total Company		685			437			2,142			(111	)		3,153			(2,225	)					(2,225	)

¹Includes deferred tax adjustment in 2Q 2019 in Alaska.

²Includes deferred tax adjustment in 1Q 2019, and a tax rate change in 2Q 2019 in Canada.

³Includes tax adjustment in 2Q 2019 and 3Q 2019 related to the U.K. disposition.

⁴Includes tax adjustment in 2Q 2019 related to the Greater Sunrise Fields disposition and in 3Q 2019 for Malaysia Deepwater tax incentives.

⁵Includes deferred tax adjustment related to foreign tax credits in 4Q 2019.

	2019															2020
	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			Full Year			1st Qtr			2nd Qtr	3rd Qtr	4th Qtr	YTD
$ Millions
CONSOLIDATED BALANCE SHEET
Assets
Cash and cash equivalents		6,218			5,941			7,193			5,088			5,088			3,908						3,908
Short-term investments		249			732			908			3,028			3,028			3,866						3,866
Accounts and notes receivable		3,701			3,490			3,478			3,267			3,267			2,116						2,116
Accounts and notes receivable—related parties		168			161			138			134			134			148						148
Investment in Cenovus Energy		1,805			1,835			1,951			2,111			2,111			420						420
Inventories		1,014			1,089			955			1,026			1,026			726						726
Prepaid expenses and other current assets		528			2,552			594			2,259			2,259			1,960						1,960
Total Current Assets		13,683			15,800			15,217			16,913			16,913			13,144						13,144
Investments and long-term receivables		9,302			8,748			8,916			8,687			8,687			8,707						8,707
Loans and advances—related parties		268			268			219			219			219			167						167
Net properties, plants and equipment		45,942			44,334			43,814			42,269			42,269			40,645						40,645
Other assets		2,303			2,111			2,174			2,426			2,426			2,370						2,370
Total Assets		71,498			71,261			70,340			70,514			70,514			65,033						65,033
Liabilities
Accounts payable		3,815			3,618			3,148			3,176			3,176			2,900						2,900
Accounts payable—related parties		31			17			23			24			24			21						21
Short-term debt		113			114			121			105			105			126						126
Accrued income and other taxes		1,539			1,213			1,077			1,030			1,030			853						853
Employee benefit obligations		470			529			543			663			663			323						323
Other accruals		1,402			3,505			1,030			2,045			2,045			1,852						1,852
Total Current Liabilities		7,370			8,996			5,942			7,043			7,043			6,075						6,075
Long-term debt		14,832			14,809			14,799			14,790			14,790			14,847						14,847
Asset retirement obligations and accrued environmental costs		7,730			5,996			6,087			5,352			5,352			5,316						5,316
Deferred income taxes		5,043			4,825			4,693			4,634			4,634			4,141						4,141
Employee benefit obligations		1,704			1,689			1,786			1,781			1,781			1,563						1,563
Other liabilities and deferred credits		1,838			1,872			1,794			1,864			1,864			1,704						1,704
Total Liabilities		38,517			38,187			35,101			35,464			35,464			33,646						33,646
Equity
Common stock issued
Par value		18			18			18			18			18			18						18
Capital in excess of par		46,877			46,922			46,954			46,983			46,983			47,027						47,027
Treasury stock		(43,656	)		(44,906	)		(45,656	)		(46,405	)		(46,405	)		(47,130	)					(47,130	)
Accumulated other comprehensive income (loss)		(5,914	)		(5,827	)		(5,654	)		(5,357	)		(5,357	)		(6,145	)					(6,145	)
Retained earnings		35,534			36,769			39,484			39,742			39,742			37,545						37,545
Total Common Stockholders' Equity		32,859			32,976			35,146			34,981			34,981			31,315						31,315
Noncontrolling Interests		122			98			93			69			69			72						72
Total Equity		32,981			33,074			35,239			35,050			35,050			31,387						31,387
Total Liabilities and Equity		71,498			71,261			70,340			70,514			70,514			65,033						65,033

	2019															2020
	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			Full Year			1st Qtr			2nd Qtr	3rd Qtr	4th Qtr	YTD
$ Millions
CASH FLOW INFORMATION
Cash Flows from Operating Activities
Net income (loss)		1,846			1,597			3,071			743			7,257			(1,711	)					(1,711	)
Depreciation, depletion and amortization		1,546			1,490			1,566			1,488			6,090			1,411						1,411
Impairments		1			1			24			379			405			521						521
Dry hole costs and leasehold impairments		27			41			293			60			421			67						67
Accretion on discounted liabilities		86			87			86			67			326			67						67
Deferred taxes		(1	)		(220	)		(83	)		(140	)		(444	)		(227	)					(227	)
Undistributed equity earnings		24			338			(102	)		334			594			31						31
Gain on dispositions		(17	)		(82	)		(1,785	)		(82	)		(1,966	)		42						42
Unrealized (gain) loss on investment in Cenovus Energy		(343	)		(30	)		(116	)		(160	)		(649	)		1,691						1,691
Other		(221	)		200			(310	)		(20	)		(351	)		(284	)					(284	)
Net working capital changes		(54	)		(531	)		(307	)		313			(579	)		497						497
Net Cash Provided by Operating Activities		2,894			2,891			2,337			2,982			11,104			2,105						2,105
Cash Flows from Investing Activities
Capital expenditures and investments		(1,637	)		(1,729	)		(1,675	)		(1,595	)		(6,636	)		(1,649	)					(1,649	)
Working capital changes associated with investing activities		107			(83	)		(7	)		(120	)		(103	)		81						81
Proceeds from asset dispositions		142			559			2,219			92			3,012			549						549
Net sales (purchases) of investments		(1	)		(484	)		(180	)		(2,245	)		(2,910	)		(935	)					(935	)
Long-term collections from (advances to)
related parties and other investments		(88	)		276			(207	)		38			19			22						22
Net Cash Provided by (Used in) Investing Activities		(1,477	)		(1,461	)		150			(3,830	)		(6,618	)		(1,932	)					(1,932	)
Cash Flows from Financing Activities
Repayment of debt		(19	)		(19	)		(21	)		(21	)		(80	)		(24	)					(24	)
Issuance of company common stock		(38	)		2			(3	)		9			(30	)		2						2
Repurchase of company common stock		(752	)		(1,250	)		(749	)		(749	)		(3,500	)		(726	)					(726	)
Dividends paid		(350	)		(346	)		(341	)		(463	)		(1,500	)		(458	)					(458	)
Other		(14	)		(41	)		(18	)		(46	)		(119	)		(24	)					(24	)
Net Cash Provided by (Used in) Financing Activities		(1,173	)		(1,654	)		(1,132	)		(1,270	)		(5,229	)		(1,230	)					(1,230	)
Effect of Exchange Rate Changes		75			(49	)		(94	)		22			(46	)		(122	)					(122	)
Net Change in Cash, Cash Equivalents and Restricted Cash		319			(273	)		1,261			(2,096	)		(789	)		(1,179	)					(1,179	)
Cash, cash equivalents and restricted cash at beginning of period		6,151			6,470			6,197			7,458			6,151			5,362						5,362
Cash, Cash Equivalents and Restricted Cash at End of Period		6,470			6,197			7,458			5,362			5,362			4,183						4,183
CAPITAL EXPENDITURES AND INVESTMENTS
Alaska		410			370			427			306			1,513			509						509
Lower 48		834			936			843			781			3,394			776						776
Canada		123			109			83			53			368			74						74
Europe and North Africa		157			182			198			171			708			121						121
Asia Pacific and Middle East		96			123			103			262			584			103						103
Other International		1			-			-			7			8			53						53
Corporate and Other		16			9			21			15			61			13						13
Total Capital Expenditures and Investments		1,637			1,729			1,675			1,595			6,636			1,649						1,649

	2019												2020
	1st Qtr		2nd Qtr			3rd Qtr		4th Qtr			Full Year		1st Qtr			2nd Qtr	3rd Qtr	4th Qtr	YTD
TOTAL SEGMENTS
Production
Total (MBOED)		1,361		1,332			1,366		1,334			1,348		1,289						1,289
Crude Oil (MBD)
Consolidated operations		703		688			696		681			692		642						642
Equity affiliates		12		14			14		14			13		12						12
Total		715		702			710		695			705		654						654
Over (under) lifting of crude oil (MBD)		8		(3	)		19		(2	)		6		(20	)					(20	)
NGL (MBD)
Consolidated operations		103		110			106		110			107		116						116
Equity affiliates		7		8			8		8			8		7						7
Total		110		118			114		118			115		123						123
Bitumen (MBD)
Consolidated operations		63		51			63		64			60		66						66
Equity affiliates		-		-			-		-			-		-						-
Total		63		51			63		64			60		66						66
Natural Gas (MMCFD)
Consolidated operations		1,852		1,704			1,795		1,661			1,753		1,638						1,638
Equity affiliates		988		1,064			1,076		1,080			1,052		1,036						1,036
Total		2,840		2,768			2,871		2,741			2,805		2,674						2,674
Industry Prices
Crude Oil ($/BBL)
WTI		54.87		59.80			56.44		56.98			57.02		46.06						46.06
WCS		42.58		49.13			44.18		41.15			44.26		25.54						25.54
Brent dated		63.20		68.82			61.94		63.22			64.30		50.31						50.31
JCC ($/BBL)		76.98		63.72			71.59		66.34			69.66		65.89						65.89
Natural Gas ($/MMBTU)
Henry Hub first of month		3.15		2.64			2.23		2.50			2.63		1.95						1.95
Average Realized Prices
Total ($/BBL)		50.59		50.50			47.07		47.01			48.78		38.81						38.81
Crude Oil ($/BBL)
Consolidated operations		59.45		64.90			59.56		60.14			60.98		48.77						48.77
Equity affiliates		59.53		63.98			59.91		61.58			61.32		53.14						53.14
Total		59.45		64.88			59.57		60.17			60.99		48.86						48.86
NGL ($/BBL)
Consolidated operations		22.74		19.97			14.33		18.26			18.73		12.81						12.81
Equity affiliates		38.19		41.72			30.18		37.28			36.70		42.41						42.41
Total		23.85		21.65			15.59		19.67			20.09		14.82						14.82
Bitumen ($/BBL)
Consolidated operations		33.15		37.20			32.54		24.58			31.72		5.90						5.90
Equity affiliates		-		-			-		-			-		-						-
Total		33.15		37.20			32.54		24.58			31.72		5.90						5.90
Natural Gas ($/MCF)
Consolidated operations		5.27		4.08			3.73		3.88			4.25		3.60						3.60
Equity affiliates		7.31		5.81			6.40		5.75			6.29		5.41						5.41
Total		6.00		4.76			4.74		4.62			5.03		4.30						4.30
Exploration Expenses ($ Millions)
Dry holes		10		16			139		35			200		36						36
Leasehold impairment		17		25			154		25			221		31						31
Total noncash expenses		27		41			293		60			421		67						67
Other (G&A, G&G and lease rentals)		83		81			67		91			322		121						121
Total exploration expenses		110		122			360		151			743		188						188
U.S. exploration expenses		75		70			319		60			524		99						99
International exploration expenses		35		52			41		91			219		89						89
DD&A ($ Millions)
Alaska		205		208			200		192			805		209						209
Lower 48		621		709			731		761			2,822		707						707
Canada		56		48			63		63			230		69						69
Europe and North Africa		273		173			222		218			886		196						196
Asia Pacific and Middle East		375		338			332		240			1,285		217						217
Other International		-		-			-		-			-		-						-
Corporate and Other		16		14			18		14			62		13						13
Total DD&A		1,546		1,490			1,566		1,488			6,090		1,411						1,411

	2019										2020
	1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		Full Year		1st Qtr		2nd Qtr	3rd Qtr	4th Qtr	YTD
PRODUCTION
Crude Oil (MBD)
Alaska		210		199		190		205		202		198					198
Lower 48		245		269		277		274		266		270					270
Canada		1		1		1		1		1		2					2
Norway		89		73		91		85		84		84					84
United Kingdom		25		20		19		-		16		-					-
Libya		38		37		39		39		38		9					9
Europe and North Africa		152		130		149		124		138		93					93
Australia/Timor-Leste		6		7		6		5		6		4					4
China		41		37		35		29		35		31					31
Indonesia		2		2		2		2		2		2					2
Malaysia		46		43		36		41		42		42					42
Equity affiliates		12		14		14		14		13		12					12
AP/ME		107		103		93		91		98		91					91
Total		715		702		710		695		705		654					654
NGL (MBD)
Alaska		17		17		11		16		15		19					19
Lower 48		74		82		84		85		81		89					89
Canada		-		1		-		-		-		1					1
Norway		4		3		4		5		4		5					5
United Kingdom		4		3		3		-		3		-					-
Europe and North Africa		8		6		7		5		7		5					5
Australia/Timor-Leste		4		4		4		4		4		2					2
Equity affiliates		7		8		8		8		8		7					7
AP/ME		11		12		12		12		12		9					9
Total		110		118		114		118		115		123					123
Bitumen (MBD)
Canada		63		51		63		64		60		66					66
Total		63		51		63		64		60		66					66
Natural Gas (MMCFD)
Alaska		8		7		6		8		7		8					8
Lower 48		568		593		649		677		622		679					679
Canada		7		8		9		11		9		20					20
Norway		263		244		226		284		254		297					297
United Kingdom		310		247		218		-		193		-					-
Libya		31		27		29		36		31		13					13
Europe and North Africa		604		518		473		320		478		310					310
Australia/Timor-Leste		273		202		222		203		225		237					237
Indonesia		311		314		324		333		321		309					309
Malaysia		81		62		112		109		91		75					75
Equity affiliates		988		1,064		1,076		1,080		1,052		1,036					1,036
AP/ME		1,653		1,642		1,734		1,725		1,689		1,657					1,657
Total		2,840		2,768		2,871		2,741		2,805		2,674					2,674
Total (MBOED)
Alaska		228		217		202		222		218		218					218
Lower 48		414		450		469		472		451		472					472
Canada		65		54		66		67		63		72					72
Norway		137		117		133		137		131		139					139
United Kingdom		80		64		58		-		50		-					-
Libya		43		42		44		45		43		11					11
Europe and North Africa		260		223		235		182		224		150					150
Australia/Timor-Leste		56		45		47		43		48		46					46
China		41		37		35		29		35		31					31
Indonesia		54		54		56		58		56		54					54
Malaysia		60		53		55		59		57		54					54
Equity affiliates		183		199		201		202		196		192					192
AP/ME		394		388		394		391		392		377					377
Total		1,361		1,332		1,366		1,334		1,348		1,289					1,289

	2019										2020
	1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		Full Year		1st Qtr		2nd Qtr	3rd Qtr	4th Qtr	YTD
AVERAGE REALIZED PRICES
Crude Oil ($/BBL)
Consolidated operations
Alaska		62.81		67.57		62.78		63.43		64.12		54.78					54.78
Lower 48		53.15		59.17		54.38		54.34		55.30		40.97					40.97
Canada		-		-		-		-		40.87		-					-
Norway		63.16		70.09		64.00		64.25		65.19		54.92					54.92
United Kingdom		59.74		69.22		63.32		-		64.68		-					-
Libya		63.22		68.95		62.30		63.95		64.47		64.21					64.21
Europe and North Africa		62.83		69.65		63.47		64.15		64.94		55.53					55.53
Australia/Timor-Leste		59.39		62.22		57.02		58.32		59.29		47.35					47.35
China		59.23		65.40		59.07		63.17		61.26		54.10					54.10
Indonesia		47.07		51.62		48.79		50.35		49.55		29.33					29.33
Malaysia		67.33		73.99		66.26		69.74		69.45		57.67					57.67
AP/ME		62.94		69.78		62.01		65.90		65.02		54.71					54.71
Total consolidated operations		59.45		64.90		59.56		60.14		60.98		48.77					48.77
Equity affiliates		59.53		63.98		59.91		61.58		61.32		53.14					53.14
Total		59.45		64.88		59.57		60.17		60.99		48.86					48.86
NGL ($/BBL)
Consolidated operations
Lower 48		20.66		17.91		13.04		16.27		16.83		11.85					11.85
Canada		-		-		-		-		19.87		-					-
Norway		33.37		29.42		24.38		32.42		30.67		21.54					21.54
United Kingdom		27.65		32.75		22.20		-		27.71		-					-
Europe and North Africa		31.15		32.00		23.20		32.42		29.37		21.54					21.54
Australia/Timor-Leste		40.13		39.97		30.13		37.20		37.85		39.34					39.34
AP/ME		40.13		39.97		30.13		37.20		37.85		39.34					39.34
Total consolidated operations		22.74		19.97		14.33		18.26		18.73		12.81					12.81
Equity affiliates		38.19		41.72		30.18		37.28		36.70		42.41					42.41
Total		23.85		21.65		15.59		19.67		20.09		14.82					14.82
Bitumen ($/BBL)
Canada*		33.15		37.20		32.54		24.58		31.72		5.90					5.90
Total		33.15		37.20		32.54		24.58		31.72		5.90					5.90
Natural Gas ($/MCF)
Consolidated operations
Alaska		3.42		3.19		3.01		3.09		3.19		3.07					3.07
Lower 48		2.74		2.10		1.80		1.92		2.12		1.48					1.48
Canada		-		-		-		-		0.49		-					-
Norway		6.39		4.31		3.37		4.61		4.72		3.65					3.65
United Kingdom		6.83		4.49		3.69		-		5.19		-					-
Libya		4.92		4.79		4.83		4.91		4.87		4.53					4.53
Europe and North Africa		6.55		4.42		3.60		4.63		4.92		3.68					3.68
Australia/Timor-Leste**		0.83		0.78		0.76		0.77		0.79		6.43					6.43
Indonesia		6.69		7.19		6.69		6.66		6.81		6.58					6.58
Malaysia		3.84		3.57		3.44		3.47		3.56		2.93					2.93
AP/ME		6.36		5.89		5.78		5.60		5.91		5.94					5.94
Total consolidated operations		5.27		4.08		3.73		3.88		4.25		3.60					3.60
Equity affiliates		7.31		5.81		6.40		5.75		6.29		5.41					5.41
Total		6.00		4.76		4.74		4.62		5.03		4.30					4.30

 *Average realized prices exclude additional value realized from third-party purchases and sales for optimization of our pipeline capacity between Canada and the U.S. Gulf Coast.

**Excludes transfers to Darwin LNG plant.

	2019															2020
	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			Full Year			1st Qtr			2nd Qtr	3rd Qtr	4th Qtr	YTD
CORPORATE AND OTHER
Corporate and Other Earnings (Loss) ($ Millions)		271			(193	)		(14	)		(26	)		38			(1,775	)					(1,775	)
Detail of Earnings (Loss) ($ Millions)
Net interest expense		(196	)		(131	)		(123	)		(154	)		(604	)		(155	)					(155	)
Corporate G&A expenses		(65	)		(49	)		(34	)		(104	)		(252	)		50						50
Technology*		96			(10	)		43			(6	)		123			1						1
Other		436			(3	)		100			238			771			(1,671	)					(1,671	)
Total		271			(193	)		(14	)		(26	)		38			(1,775	)					(1,775	)
*Includes investment in new technologies or businesses outside of our normal scope of operations and licensing revenues.
Before-Tax Net Interest Expense ($ Millions)
Interest expense		(243	)		(178	)		(200	)		(214	)		(835	)		(216	)					(216	)
Capitalized interest		10			13			16			18			57			14						14
Interest revenue		32			33			45			39			149			42						42
Total		(201	)		(132	)		(139	)		(157	)		(629	)		(160	)					(160	)
Debt
Total debt ($ Millions)		14,945			14,923			14,920			14,895			14,895			14,973						14,973
Debt-to-capital ratio (%)		31	%		31	%		30	%		30	%		30	%		32	%					32	%
Equity ($ Millions)		32,981			33,074			35,239			35,050			35,050			31,387						31,387

REFERENCE
Commonly Used Abbreviations
Earnings	Net Income (Loss) Attributable to ConocoPhillips
DD&A	Depreciation, Depletion and Amortization
G&G	Geological and Geophysical
G&A	General and Administrative
JCC	Japan Crude Cocktail
LNG	Liquefied Natural Gas
NGL	Natural Gas Liquids
WCS	Western Canada Select
WTI	West Texas Intermediate
Units of Measure
BBL	Barrels
MMBBL	Millions of Barrels
MBD	Thousands of Barrels per Day
MBOED	Thousands of Barrels of Oil Equivalent per Day
MCF	Thousands of Cubic Feet
MMBTU	Millions of British Thermal Units

XML

Document and Entity Information	Apr. 30, 2020
Entity Listings [Line Items]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Apr. 30, 2020
Entity Registrant Name	ConocoPhillips
Entity Incorporation, State or Country Code	DE
Entity File Number	001-32395
Entity Tax Identification Number	01-0562944
Entity Address, Address Line One	925 N. Eldridge Parkway
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77079
City Area Code	281
Local Phone Number	293-1000
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Entity Central Index Key	0001163165
Common Stock, $.01 Par Value Per Share [Member]
Entity Listings [Line Items]
Title of 12(b) Security	Common Stock, $.01 Par Value Per Share
Trading Symbol	COP
Security Exchange Name	NYSE
7% Debentures due 2029 [Member]
Entity Listings [Line Items]
Title of 12(b) Security	7% Debentures due 2029
Trading Symbol	CUSIP-718507BK1
Security Exchange Name	NYSE