false2022FY0001163165--12-31http://fasb.org/us-gaap/2022#OtherAssetsNoncurrenthttp://fasb.org/us-gaap/2022#GainLossOnSaleOfPropertyPlantEquipmenthttp://www.conocophillips.com/20221231#AssetRetirementObligationsAndAccruedEnvironmentalCostNonCurrentP3Y4.5http://fasb.org/us-gaap/2022#OtherAssetsNoncurrent http://fasb.org/us-gaap/2022#PrepaidExpenseAndOtherAssetsCurrenthttp://fasb.org/us-gaap/2022#PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortizationhttp://fasb.org/us-gaap/2022#PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortizationhttp://fasb.org/us-gaap/2022#OtherAssetsNoncurrenthttp://fasb.org/us-gaap/2022#OtherNonoperatingIncomeExpensehttp://fasb.org/us-gaap/2022#OtherNonoperatingIncomeExpensehttp://fasb.org/us-gaap/2022#OtherNonoperatingIncomeExpense00011631652022-01-012022-12-310001163165us-gaap:CommonStockMember2022-01-012022-12-310001163165cop:SevenPercentDebenturesDueTwentyTwentyNineMember2022-01-012022-12-3100011631652022-06-30iso4217:USD00011631652023-01-31xbrli:shares00011631652021-01-012021-12-3100011631652020-01-012020-12-31iso4217:USDxbrli:shares00011631652022-12-3100011631652021-12-3100011631652020-12-3100011631652019-12-310001163165us-gaap:PrepaidExpensesAndOtherCurrentAssetsMember2021-12-310001163165us-gaap:OtherAssetsMember2021-12-310001163165us-gaap:CommonStockMember2019-12-310001163165us-gaap:AdditionalPaidInCapitalMember2019-12-310001163165us-gaap:TreasuryStockCommonMember2019-12-310001163165us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-12-310001163165us-gaap:RetainedEarningsMember2019-12-310001163165us-gaap:NoncontrollingInterestMember2019-12-310001163165us-gaap:RetainedEarningsMember2020-01-012020-12-310001163165us-gaap:NoncontrollingInterestMember2020-01-012020-12-310001163165us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-01-012020-12-310001163165us-gaap:TreasuryStockCommonMember2020-01-012020-12-310001163165us-gaap:AdditionalPaidInCapitalMember2020-01-012020-12-310001163165us-gaap:CommonStockMember2020-12-310001163165us-gaap:AdditionalPaidInCapitalMember2020-12-310001163165us-gaap:TreasuryStockCommonMember2020-12-310001163165us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-12-310001163165us-gaap:RetainedEarningsMember2020-12-310001163165us-gaap:NoncontrollingInterestMember2020-12-310001163165us-gaap:RetainedEarningsMember2021-01-012021-12-310001163165us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-01-012021-12-310001163165us-gaap:CommonStockMember2021-01-012021-12-310001163165us-gaap:AdditionalPaidInCapitalMember2021-01-012021-12-310001163165us-gaap:TreasuryStockCommonMember2021-01-012021-12-310001163165us-gaap:CommonStockMember2021-12-310001163165us-gaap:AdditionalPaidInCapitalMember2021-12-310001163165us-gaap:TreasuryStockCommonMember2021-12-310001163165us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-12-310001163165us-gaap:RetainedEarningsMember2021-12-310001163165us-gaap:NoncontrollingInterestMember2021-12-310001163165us-gaap:RetainedEarningsMember2022-01-012022-12-310001163165us-gaap:NoncontrollingInterestMember2022-01-012022-12-310001163165us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-12-310001163165us-gaap:TreasuryStockCommonMember2022-01-012022-12-310001163165us-gaap:AdditionalPaidInCapitalMember2022-01-012022-12-310001163165us-gaap:CommonStockMember2022-12-310001163165us-gaap:AdditionalPaidInCapitalMember2022-12-310001163165us-gaap:TreasuryStockCommonMember2022-12-310001163165us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-12-310001163165us-gaap:RetainedEarningsMember2022-12-310001163165us-gaap:NoncontrollingInterestMember2022-12-31cop:segment0001163165cop:AustraliaPacificAplngMember2022-02-28xbrli:pure0001163165cop:AustraliaPacificAplngMember2022-02-012022-02-280001163165cop:AustraliaPacificAplngMembercop:OriginEnergyMember2022-02-280001163165cop:AustraliaPacificAplngMembercop:SinopecMember2022-02-280001163165cop:QatarLiquefiedGasCompanyLimitedEightMember2022-12-310001163165cop:NorthFieldEastLNGProjectMembercop:QatarLiquefiedGasCompanyLimitedEightMember2022-12-310001163165cop:AssetsAcquisitionInTheLower48SegmentMember2022-09-012022-09-300001163165cop:CertainNoncoreAssetsMemberus-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMembercop:LowerFortyEightSegmentMember2022-01-012022-12-310001163165cop:CertainNoncoreAssetsMemberus-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMembercop:LowerFortyEightSegmentMember2022-12-310001163165cop:SubsidiariesHoldingIndonesiaAssetsAndOperationsMemberus-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember2022-03-012022-03-310001163165cop:SubsidiariesHoldingIndonesiaAssetsAndOperationsMembercop:IndonesiaCorridorBlockProductionSharingContractMember2022-03-310001163165cop:SubsidiariesHoldingIndonesiaAssetsAndOperationsMembercop:TransasiaPipelineCompanyMember2022-03-310001163165cop:SubsidiariesHoldingIndonesiaAssetsAndOperationsMemberus-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember2022-03-310001163165cop:SubsidiariesHoldingIndonesiaAssetsAndOperationsMemberus-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember2022-01-012022-12-310001163165cop:SubsidiariesHoldingIndonesiaAssetsAndOperationsMemberus-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember2021-01-012021-12-310001163165cop:SubsidiariesHoldingIndonesiaAssetsAndOperationsMemberus-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember2020-01-012020-12-310001163165cop:PreviousDispositionsMembercop:CanadaAndLower48Member2022-01-012022-12-310001163165cop:CanadaSegmentMembercop:PreviousDispositionsMember2022-12-31iso4217:CADutr:bbl0001163165cop:PreviousDispositionsMembercop:LowerFortyEightSegmentMember2022-12-31iso4217:USDutr:MMBTU0001163165cop:PreviousDispositionsMembercop:CanadaAndLower48Member2021-01-012021-12-310001163165cop:PreviousDispositionsMembercop:CanadaAndLower48Member2020-01-012020-12-310001163165cop:ConchoResourcesIncorporatedMember2021-01-012021-01-310001163165cop:ConchoResourcesIncorporatedMember2021-01-310001163165cop:ConchoResourcesIncMembercop:ConchoResourcesIncorporatedMember2021-01-150001163165cop:ConchoResourcesIncorporatedMember2021-01-150001163165us-gaap:CommonStockMembercop:ConchoResourcesIncorporatedMember2021-01-152021-12-310001163165cop:ConchoResourcesIncorporatedMember2021-01-152021-12-310001163165cop:ConchoResourcesIncorporatedMember2021-01-152021-01-150001163165cop:ConchoResourcesIncorporatedMember2021-01-012021-03-310001163165us-gaap:OperatingExpenseMembercop:ConchoResourcesIncorporatedMember2021-01-152021-12-310001163165us-gaap:SellingGeneralAndAdministrativeExpensesMembercop:ConchoResourcesIncorporatedMember2021-01-152021-12-310001163165cop:ExplorationExpensesMembercop:ConchoResourcesIncorporatedMember2021-01-152021-12-310001163165cop:TaxesMiscellaneousMembercop:ConchoResourcesIncorporatedMember2021-01-152021-12-310001163165us-gaap:OtherExpenseMembercop:ConchoResourcesIncorporatedMember2021-01-152021-12-310001163165cop:ConchoResourcesIncMembercop:ConchoResourcesIncorporatedMember2021-02-012021-02-280001163165us-gaap:CommodityContractMembercop:ConchoResourcesIncorporatedMember2021-01-152021-12-310001163165cop:ShellPermianAssetsMember2021-12-31utr:acre0001163165cop:ShellPermianAssetsMember2021-01-012021-12-310001163165srt:ProFormaMember2021-01-012021-12-310001163165cop:ConchoResourcesIncorporatedMember2020-01-012020-12-310001163165cop:ShellPermianAssetsMember2020-01-012020-12-310001163165srt:ProFormaMember2020-01-012020-12-310001163165cop:ConchoResourcesIncMembercop:ConchoResourcesIncorporatedMember2021-01-012021-12-310001163165cop:AsiaPacificOperatingSegmentMembercop:BarossaProjectMember2020-12-310001163165cop:AsiaPacificOperatingSegmentMembercop:BarossaProjectMember2021-01-012021-03-310001163165cop:LowerFortyEightSegmentMember2021-07-012021-12-310001163165cop:NoncoreExplorationInterestsMember2021-07-012021-12-310001163165cop:CanadaSegmentMembercop:AdditionalMontneyAcreageMember2020-08-012020-08-310001163165cop:CanadaSegmentMembercop:AdditionalMontneyAcreageMember2020-08-310001163165cop:WaddellRanchMembercop:LowerFortyEightSegmentMember2020-02-012020-02-290001163165cop:LowerFortyEightSegmentMembercop:NiobraraMember2020-03-012020-03-310001163165cop:LowerFortyEightSegmentMembercop:NiobraraMember2020-03-310001163165cop:LowerFortyEightSegmentMembercop:NiobraraMember2020-01-012020-12-310001163165cop:AsiaPacificOperatingSegmentMembercop:AustraliaWestAssetsMember2020-05-012020-05-310001163165cop:AsiaPacificOperatingSegmentMembercop:AustraliaWestAssetsMember2020-01-012020-12-310001163165cop:AsiaPacificOperatingSegmentMembercop:AustraliaWestAssetsMember2020-05-270001163165cop:AsiaPacificOperatingSegmentMembercop:BarossaProjectMember2020-05-012020-05-310001163165cop:AustraliaPacificLngMember2022-12-310001163165cop:OriginEnergyMembercop:AustraliaPacificLngMember2022-12-310001163165cop:SinopecMembercop:AustraliaPacificLngMember2022-12-310001163165cop:QatarLiquefiedGasCompanyLimitedThreeMember2022-12-310001163165cop:QatarLiquefiedGasCompanyLimitedThreeMembercop:QatarenergyMember2022-12-310001163165cop:QatarLiquefiedGasCompanyLimitedThreeMembercop:MitsuiCoLtdMember2022-12-310001163165cop:QatarenergyMembercop:QatarLiquefiedGasCompanyLimitedEightMember2022-12-310001163165cop:AffiliatedCompaniesMember2022-01-012022-12-310001163165cop:AffiliatedCompaniesMember2021-01-012021-12-310001163165cop:AffiliatedCompaniesMember2020-01-012020-12-310001163165cop:AffiliatedCompaniesMember2022-12-310001163165cop:AffiliatedCompaniesMember2021-12-310001163165cop:AustraliaPacificLngMember2012-12-310001163165cop:AustraliaPacificLngMembercop:USPrivatePlacementBondMember2022-12-31cop:facility0001163165cop:AustraliaPacificLngMember2021-12-310001163165cop:AustraliaPacificLngMember2021-10-012021-12-310001163165cop:AustraliaPacificLngMember2020-12-310001163165cop:QatarLiquefiedGasCompanyLimitedThreeMember2005-12-310001163165cop:QatarLiquefiedGasCompanyLimitedThreeMembercop:CreditAgenciesMember2005-12-310001163165cop:QatarLiquefiedGasCompanyLimitedThreeMembercop:CommericalBanksMember2005-12-310001163165srt:ParentCompanyMembercop:QatarLiquefiedGasCompanyLimitedThreeMember2005-12-310001163165cop:CenovusEnergyIncMember2021-12-310001163165cop:CenovusEnergyIncMemberus-gaap:CommonStockMember2022-01-012022-03-310001163165cop:CenovusEnergyIncMemberus-gaap:CommonStockMember2022-01-012022-12-310001163165cop:CenovusEnergyIncMember2022-01-012022-12-310001163165cop:CenovusEnergyIncMember2021-01-012021-12-310001163165cop:CenovusEnergyIncMember2020-01-012020-12-31cop:project0001163165cop:WillowAlaskaMember2022-12-310001163165us-gaap:AgingOfCapitalizedExploratoryWellCostsPeriodOneMembercop:WillowAlaskaMember2022-12-310001163165cop:WillowAlaskaMemberus-gaap:AgingOfCapitalizedExploratoryWellCostsPeriodTwoMember2022-12-310001163165cop:WillowAlaskaMemberus-gaap:AgingOfCapitalizedExploratoryWellCostsPeriodThreeMember2022-12-310001163165cop:Pl1009NorwayMember2022-12-310001163165us-gaap:AgingOfCapitalizedExploratoryWellCostsPeriodOneMembercop:Pl1009NorwayMember2022-12-310001163165us-gaap:AgingOfCapitalizedExploratoryWellCostsPeriodTwoMembercop:Pl1009NorwayMember2022-12-310001163165cop:Pl1009NorwayMemberus-gaap:AgingOfCapitalizedExploratoryWellCostsPeriodThreeMember2022-12-310001163165cop:Pl891NorwayMember2022-12-310001163165us-gaap:AgingOfCapitalizedExploratoryWellCostsPeriodOneMembercop:Pl891NorwayMember2022-12-310001163165us-gaap:AgingOfCapitalizedExploratoryWellCostsPeriodTwoMembercop:Pl891NorwayMember2022-12-310001163165us-gaap:AgingOfCapitalizedExploratoryWellCostsPeriodThreeMembercop:Pl891NorwayMember2022-12-310001163165cop:NarwhalTrendAlaskaMember2022-12-310001163165us-gaap:AgingOfCapitalizedExploratoryWellCostsPeriodOneMembercop:NarwhalTrendAlaskaMember2022-12-310001163165us-gaap:AgingOfCapitalizedExploratoryWellCostsPeriodTwoMembercop:NarwhalTrendAlaskaMember2022-12-310001163165cop:NarwhalTrendAlaskaMemberus-gaap:AgingOfCapitalizedExploratoryWellCostsPeriodThreeMember2022-12-310001163165cop:Wl400MalaysiaMember2022-12-310001163165us-gaap:AgingOfCapitalizedExploratoryWellCostsPeriodOneMembercop:Wl400MalaysiaMember2022-12-310001163165us-gaap:AgingOfCapitalizedExploratoryWellCostsPeriodTwoMembercop:Wl400MalaysiaMember2022-12-310001163165us-gaap:AgingOfCapitalizedExploratoryWellCostsPeriodThreeMembercop:Wl400MalaysiaMember2022-12-310001163165cop:Pl782sNorwayMember2022-12-310001163165us-gaap:AgingOfCapitalizedExploratoryWellCostsPeriodOneMembercop:Pl782sNorwayMember2022-12-310001163165us-gaap:AgingOfCapitalizedExploratoryWellCostsPeriodTwoMembercop:Pl782sNorwayMember2022-12-310001163165us-gaap:AgingOfCapitalizedExploratoryWellCostsPeriodThreeMembercop:Pl782sNorwayMember2022-12-310001163165cop:MontneyCanadaMember2022-12-310001163165us-gaap:AgingOfCapitalizedExploratoryWellCostsPeriodOneMembercop:MontneyCanadaMember2022-12-310001163165cop:MontneyCanadaMemberus-gaap:AgingOfCapitalizedExploratoryWellCostsPeriodTwoMember2022-12-310001163165cop:MontneyCanadaMemberus-gaap:AgingOfCapitalizedExploratoryWellCostsPeriodThreeMember2022-12-310001163165cop:OtherProjectsMember2022-12-310001163165us-gaap:AgingOfCapitalizedExploratoryWellCostsPeriodOneMembercop:OtherProjectsMember2022-12-310001163165us-gaap:AgingOfCapitalizedExploratoryWellCostsPeriodTwoMembercop:OtherProjectsMember2022-12-310001163165us-gaap:AgingOfCapitalizedExploratoryWellCostsPeriodThreeMembercop:OtherProjectsMember2022-12-310001163165us-gaap:AgingOfCapitalizedExploratoryWellCostsPeriodOneMember2022-12-310001163165us-gaap:AgingOfCapitalizedExploratoryWellCostsPeriodTwoMember2022-12-310001163165us-gaap:AgingOfCapitalizedExploratoryWellCostsPeriodThreeMember2022-12-310001163165cop:CanadaSegmentMember2022-10-012022-12-310001163165cop:EuropeMiddleEastAndNorthAfricaSegmentMember2022-01-012022-12-310001163165cop:AlaskaSegmentMember2020-01-012020-12-310001163165cop:OtherInternationalMember2020-01-012020-12-310001163165cop:AsiaPacificOperatingSegmentMember2020-01-012020-12-310001163165cop:AlaskaSegmentMemberus-gaap:OperatingSegmentsMember2022-01-012022-12-310001163165cop:AlaskaSegmentMemberus-gaap:OperatingSegmentsMember2021-01-012021-12-310001163165cop:AlaskaSegmentMemberus-gaap:OperatingSegmentsMember2020-01-012020-12-310001163165cop:LowerFortyEightMemberus-gaap:OperatingSegmentsMember2022-01-012022-12-310001163165cop:LowerFortyEightMemberus-gaap:OperatingSegmentsMember2021-01-012021-12-310001163165cop:LowerFortyEightMemberus-gaap:OperatingSegmentsMember2020-01-012020-12-310001163165cop:CanadaSegmentMemberus-gaap:OperatingSegmentsMember2022-01-012022-12-310001163165cop:CanadaSegmentMemberus-gaap:OperatingSegmentsMember2021-01-012021-12-310001163165cop:CanadaSegmentMemberus-gaap:OperatingSegmentsMember2020-01-012020-12-310001163165cop:EuropeMiddleEastAndNorthAfricaSegmentMemberus-gaap:OperatingSegmentsMember2022-01-012022-12-310001163165cop:EuropeMiddleEastAndNorthAfricaSegmentMemberus-gaap:OperatingSegmentsMember2021-01-012021-12-310001163165cop:EuropeMiddleEastAndNorthAfricaSegmentMemberus-gaap:OperatingSegmentsMember2020-01-012020-12-310001163165cop:AsiaPacificOperatingSegmentMemberus-gaap:OperatingSegmentsMember2022-01-012022-12-310001163165cop:AsiaPacificOperatingSegmentMemberus-gaap:OperatingSegmentsMember2021-01-012021-12-310001163165cop:AsiaPacificOperatingSegmentMemberus-gaap:OperatingSegmentsMember2020-01-012020-12-310001163165cop:AsiaPacificOperatingSegmentMembercop:AustraliaPacificLngMemberus-gaap:OperatingSegmentsMember2021-01-012021-12-310001163165cop:LowerFortyEightMember2021-01-012021-12-310001163165cop:LowerFortyEightMemberus-gaap:OperatingSegmentsMember2021-10-012021-12-310001163165cop:LowerFortyEightMembercop:NoncoreAssetsMemberus-gaap:OperatingSegmentsMember2020-01-012020-12-310001163165cop:WindRiverBasinMembercop:LowerFortyEightMemberus-gaap:OperatingSegmentsMember2020-01-012020-12-310001163165cop:WindRiverBasinMembercop:LowerFortyEightMemberus-gaap:OperatingSegmentsMember2020-10-012020-12-310001163165cop:CleanupRemediationActivitiesMember2022-12-310001163165cop:CleanupRemediationActivitiesMember2021-12-310001163165cop:CorporateAndOtherEnvironmentalLiabilitiesMember2022-12-310001163165cop:CorporateAndOtherEnvironmentalLiabilitiesMember2021-12-310001163165cop:FederalComprehensiveEnvironmentalResponseCompensationAndLiabilityActOrSimilarStateLawsMember2022-12-310001163165cop:FederalComprehensiveEnvironmentalResponseCompensationAndLiabilityActOrSimilarStateLawsMember2021-12-3100011631652021-12-012021-12-310001163165cop:A24NotesDue2022Memberus-gaap:NotesPayableToBanksMember2022-12-310001163165cop:A24NotesDue2022Memberus-gaap:NotesPayableToBanksMember2021-12-310001163165us-gaap:UnsecuredDebtMembercop:A765DebenturesDue2023Member2022-12-310001163165us-gaap:UnsecuredDebtMembercop:A765DebenturesDue2023Member2021-12-310001163165cop:A335NotesDue2024Memberus-gaap:NotesPayableToBanksMember2022-12-310001163165cop:A335NotesDue2024Memberus-gaap:NotesPayableToBanksMember2021-12-310001163165cop:A2125NoteDue2024Memberus-gaap:NotesPayableToBanksMember2022-12-310001163165cop:A2125NoteDue2024Memberus-gaap:NotesPayableToBanksMember2021-12-310001163165us-gaap:NotesPayableToBanksMembercop:A82NotesDue2025Member2022-12-310001163165us-gaap:NotesPayableToBanksMembercop:A82NotesDue2025Member2021-12-310001163165us-gaap:UnsecuredDebtMembercop:A335DebenturesDue2025Member2022-12-310001163165us-gaap:UnsecuredDebtMembercop:A335DebenturesDue2025Member2021-12-310001163165us-gaap:NotesPayableToBanksMembercop:A24NoteDue2025Member2022-12-310001163165us-gaap:NotesPayableToBanksMembercop:A24NoteDue2025Member2021-12-310001163165us-gaap:UnsecuredDebtMembercop:A6875DebenturesDue2026Member2022-12-310001163165us-gaap:UnsecuredDebtMembercop:A6875DebenturesDue2026Member2021-12-310001163165cop:A495NotesDue2026Memberus-gaap:NotesPayableToBanksMember2022-12-310001163165cop:A495NotesDue2026Memberus-gaap:NotesPayableToBanksMember2021-12-310001163165us-gaap:UnsecuredDebtMembercop:A78DebenturesDue2027Member2022-12-310001163165us-gaap:UnsecuredDebtMembercop:A78DebenturesDue2027Member2021-12-310001163165us-gaap:NotesPayableToBanksMembercop:A375NotesDue2027Member2022-12-310001163165us-gaap:NotesPayableToBanksMembercop:A375NotesDue2027Member2021-12-310001163165cop:A43NotesDue2028Memberus-gaap:NotesPayableToBanksMember2022-12-310001163165cop:A43NotesDue2028Memberus-gaap:NotesPayableToBanksMember2021-12-310001163165us-gaap:UnsecuredDebtMembercop:A7375DebenturesDue2029Member2022-12-310001163165us-gaap:UnsecuredDebtMembercop:A7375DebenturesDue2029Member2021-12-310001163165us-gaap:UnsecuredDebtMembercop:A7DebenturesDue2029Member2022-12-310001163165us-gaap:UnsecuredDebtMembercop:A7DebenturesDue2029Member2021-12-310001163165us-gaap:NotesPayableToBanksMembercop:A695NotesDue2029Member2022-12-310001163165us-gaap:NotesPayableToBanksMembercop:A695NotesDue2029Member2021-12-310001163165cop:A8125NotesDue2030Memberus-gaap:NotesPayableToBanksMember2022-12-310001163165cop:A8125NotesDue2030Memberus-gaap:NotesPayableToBanksMember2021-12-310001163165cop:A74NotesDue2031Memberus-gaap:NotesPayableToBanksMember2022-12-310001163165cop:A74NotesDue2031Memberus-gaap:NotesPayableToBanksMember2021-12-310001163165cop:A725NotesDue2031Memberus-gaap:NotesPayableToBanksMember2022-12-310001163165cop:A725NotesDue2031Memberus-gaap:NotesPayableToBanksMember2021-12-310001163165cop:A72NotesDue2031Memberus-gaap:NotesPayableToBanksMember2022-12-310001163165cop:A72NotesDue2031Memberus-gaap:NotesPayableToBanksMember2021-12-310001163165cop:A24NotesDue2031Memberus-gaap:NotesPayableToBanksMember2022-12-310001163165cop:A24NotesDue2031Memberus-gaap:NotesPayableToBanksMember2021-12-310001163165cop:A59NotesDue2032Memberus-gaap:NotesPayableToBanksMember2022-12-310001163165cop:A59NotesDue2032Memberus-gaap:NotesPayableToBanksMember2021-12-310001163165cop:A415NotesDue2034Memberus-gaap:NotesPayableToBanksMember2022-12-310001163165cop:A415NotesDue2034Memberus-gaap:NotesPayableToBanksMember2021-12-310001163165us-gaap:NotesPayableToBanksMembercop:A595NotesDue2036Member2022-12-310001163165us-gaap:NotesPayableToBanksMembercop:A595NotesDue2036Member2021-12-310001163165cop:A5951NotesDue2037Memberus-gaap:NotesPayableToBanksMember2022-12-310001163165cop:A5951NotesDue2037Memberus-gaap:NotesPayableToBanksMember2021-12-310001163165cop:A59NotesDue2038Memberus-gaap:NotesPayableToBanksMember2022-12-310001163165cop:A59NotesDue2038Memberus-gaap:NotesPayableToBanksMember2021-12-310001163165cop:A65NotesDue2039Memberus-gaap:NotesPayableToBanksMember2022-12-310001163165cop:A65NotesDue2039Memberus-gaap:NotesPayableToBanksMember2021-12-310001163165cop:A3758NoteDue2042Memberus-gaap:NotesPayableToBanksMember2022-12-310001163165cop:A3758NoteDue2042Memberus-gaap:NotesPayableToBanksMember2021-12-310001163165cop:A43NotesDue2044Memberus-gaap:NotesPayableToBanksMember2022-12-310001163165cop:A43NotesDue2044Memberus-gaap:NotesPayableToBanksMember2021-12-310001163165cop:A595NotesDue2046Memberus-gaap:NotesPayableToBanksMember2022-12-310001163165cop:A595NotesDue2046Memberus-gaap:NotesPayableToBanksMember2021-12-310001163165us-gaap:UnsecuredDebtMembercop:A79DebenturesDue2047Member2022-12-310001163165us-gaap:UnsecuredDebtMembercop:A79DebenturesDue2047Member2021-12-310001163165cop:A4875NotesDue2047Memberus-gaap:NotesPayableToBanksMember2022-12-310001163165cop:A4875NotesDue2047Memberus-gaap:NotesPayableToBanksMember2021-12-310001163165cop:A485NotesDue2048TwoMemberus-gaap:NotesPayableToBanksMember2022-12-310001163165cop:A485NotesDue2048TwoMemberus-gaap:NotesPayableToBanksMember2021-12-310001163165cop:A38NoteDue2052Memberus-gaap:NotesPayableToBanksMember2022-12-310001163165cop:A38NoteDue2052Memberus-gaap:NotesPayableToBanksMember2021-12-310001163165cop:A4025NoteDue2062Memberus-gaap:NotesPayableToBanksMember2022-12-310001163165cop:A4025NoteDue2062Memberus-gaap:NotesPayableToBanksMember2021-12-310001163165cop:FloatingRateNotesDue2022Membercop:FloatingRateNotesMembersrt:MinimumMember2022-12-310001163165cop:FloatingRateNotesDue2022Membercop:FloatingRateNotesMembersrt:MaximumMember2022-12-310001163165cop:FloatingRateNotesDue2022Membercop:FloatingRateNotesMembersrt:MinimumMember2021-12-310001163165cop:FloatingRateNotesDue2022Membercop:FloatingRateNotesMembersrt:MaximumMember2021-12-310001163165cop:FloatingRateNotesDue2022Membercop:FloatingRateNotesMember2022-12-310001163165cop:FloatingRateNotesDue2022Membercop:FloatingRateNotesMember2021-12-310001163165cop:MarineTerminalRevenueRefundingBondsMembercop:VariableRateDebtBondsMembersrt:MinimumMember2022-12-310001163165cop:MarineTerminalRevenueRefundingBondsMembercop:VariableRateDebtBondsMembersrt:MaximumMember2022-12-310001163165cop:MarineTerminalRevenueRefundingBondsMembercop:VariableRateDebtBondsMembersrt:MinimumMember2021-12-310001163165cop:MarineTerminalRevenueRefundingBondsMembercop:VariableRateDebtBondsMembersrt:MaximumMember2021-12-310001163165cop:MarineTerminalRevenueRefundingBondsMembercop:VariableRateDebtBondsMember2022-12-310001163165cop:MarineTerminalRevenueRefundingBondsMembercop:VariableRateDebtBondsMember2021-12-310001163165cop:IndustrialDevelopmentBondsDue2035Membercop:VariableRateDebtBondsMembersrt:MinimumMember2022-12-310001163165cop:IndustrialDevelopmentBondsDue2035Membercop:VariableRateDebtBondsMembersrt:MaximumMember2022-12-310001163165cop:IndustrialDevelopmentBondsDue2035Membercop:VariableRateDebtBondsMembersrt:MinimumMember2021-12-310001163165cop:IndustrialDevelopmentBondsDue2035Membercop:VariableRateDebtBondsMembersrt:MaximumMember2021-12-310001163165cop:IndustrialDevelopmentBondsDue2035Membercop:VariableRateDebtBondsMember2022-12-310001163165cop:IndustrialDevelopmentBondsDue2035Membercop:VariableRateDebtBondsMember2021-12-310001163165cop:OtherDebtMember2022-12-310001163165cop:OtherDebtMember2021-12-310001163165cop:A24NotesDue2022Memberus-gaap:NotesPayableToBanksMember2022-12-012022-12-310001163165cop:A495NotesDue2026Memberus-gaap:NotesPayableToBanksMember2022-05-310001163165cop:A495NotesDue2026Memberus-gaap:NotesPayableToBanksMember2022-05-012022-05-310001163165cop:FloatingRateNotesDue2022Membercop:FloatingRateNotesMember2022-05-012022-05-3100011631652022-03-3100011631652022-03-012022-03-310001163165us-gaap:NotesPayableToBanksMembercop:A375NotesDue2027Member2022-02-280001163165us-gaap:NotesPayableToBanksMembercop:A375NotesDue2027Member2022-03-310001163165cop:A43NotesDue2028Memberus-gaap:NotesPayableToBanksMember2022-02-280001163165cop:A43NotesDue2028Memberus-gaap:NotesPayableToBanksMember2022-03-310001163165cop:A24NotesDue2031Memberus-gaap:NotesPayableToBanksMember2022-02-280001163165cop:A24NotesDue2031Memberus-gaap:NotesPayableToBanksMember2022-03-310001163165cop:A4875NotesDue2047Memberus-gaap:NotesPayableToBanksMember2022-02-280001163165cop:A4875NotesDue2047Memberus-gaap:NotesPayableToBanksMember2022-03-310001163165cop:A485NotesDue2048TwoMemberus-gaap:NotesPayableToBanksMember2022-02-280001163165cop:A485NotesDue2048TwoMemberus-gaap:NotesPayableToBanksMember2022-03-31cop:transaction0001163165us-gaap:UnsecuredDebtMembercop:A7DebenturesDue2029Member2022-02-280001163165us-gaap:UnsecuredDebtMembercop:A7DebenturesDue2029Member2022-03-310001163165us-gaap:NotesPayableToBanksMembercop:A695NotesDue2029Member2022-02-280001163165us-gaap:NotesPayableToBanksMembercop:A695NotesDue2029Member2022-03-310001163165cop:A74NotesDue2031Memberus-gaap:NotesPayableToBanksMember2022-02-280001163165cop:A74NotesDue2031Memberus-gaap:NotesPayableToBanksMember2022-03-310001163165cop:A725NotesDue2031Memberus-gaap:NotesPayableToBanksMember2022-02-280001163165cop:A725NotesDue2031Memberus-gaap:NotesPayableToBanksMember2022-03-310001163165cop:A72NotesDue2031Memberus-gaap:NotesPayableToBanksMember2022-02-280001163165cop:A72NotesDue2031Memberus-gaap:NotesPayableToBanksMember2022-03-310001163165us-gaap:NotesPayableToBanksMembercop:A595NotesDue2036Member2022-02-280001163165us-gaap:NotesPayableToBanksMembercop:A595NotesDue2036Member2022-03-310001163165cop:A59NotesDue2038Memberus-gaap:NotesPayableToBanksMember2022-02-280001163165cop:A59NotesDue2038Memberus-gaap:NotesPayableToBanksMember2022-03-310001163165cop:A65NotesDue2039Memberus-gaap:NotesPayableToBanksMember2022-02-280001163165cop:A65NotesDue2039Memberus-gaap:NotesPayableToBanksMember2022-03-310001163165cop:A595NotesDue2046Memberus-gaap:NotesPayableToBanksMember2022-02-280001163165cop:A595NotesDue2046Memberus-gaap:NotesPayableToBanksMember2022-03-310001163165cop:A2125NoteDue2024Memberus-gaap:NotesPayableToBanksMember2022-03-310001163165us-gaap:NotesPayableToBanksMembercop:A24NoteDue2025Member2022-03-310001163165cop:A38NoteDue2052Memberus-gaap:NotesPayableToBanksMember2022-03-310001163165us-gaap:RevolvingCreditFacilityMember2022-01-310001163165us-gaap:RevolvingCreditFacilityMember2022-02-280001163165us-gaap:LetterOfCreditMembersrt:MaximumMember2022-12-310001163165us-gaap:RevolvingCreditFacilityMember2022-12-310001163165us-gaap:CommercialPaperMembercop:ConocoPhillipsCommericalPaperProgramMember2021-12-310001163165us-gaap:RevolvingCreditFacilityMember2021-12-310001163165cop:ConchoResourcesIncorporatedMember2021-02-280001163165cop:VariableRateDebtBondsMember2021-12-310001163165cop:VariableRateDebtBondsMember2022-12-310001163165cop:AustraliaPacificAplngMember2022-12-310001163165cop:AustraliaPacificAplngMembercop:FinanceReserveGuaranteeMember2022-01-012022-12-310001163165cop:AustraliaPacificAplngMembercop:FinanceReserveGuaranteeMember2022-12-310001163165cop:AustraliaPacificAplngMembercop:MaxPotentialFuturePaymentsProrataShareMember2022-12-310001163165cop:AustraliaPacificAplngMembercop:MaxPotentialFuturePaymentsRecklessBreachMember2022-12-310001163165cop:AustraliaPacificAplngMembercop:AplngContinuedDevelopmentMemberMembersrt:MinimumMember2022-01-012022-12-310001163165cop:AustraliaPacificAplngMembercop:AplngContinuedDevelopmentMemberMembersrt:MaximumMember2022-01-012022-12-310001163165cop:AustraliaPacificAplngMembercop:AplngContinuedDevelopmentMemberMember2022-12-310001163165cop:JointVentureObligationGuaranteeMembercop:QatarLiquefiedGasCompanyLimitedEightMember2022-01-012022-12-310001163165cop:JointVentureObligationGuaranteeMembercop:QatarLiquefiedGasCompanyLimitedEightMember2022-12-310001163165us-gaap:GuaranteeTypeOtherMember2022-12-310001163165us-gaap:GuaranteeTypeOtherMembersrt:MinimumMember2022-01-012022-12-310001163165us-gaap:GuaranteeTypeOtherMembersrt:MaximumMember2022-01-012022-12-310001163165us-gaap:IndemnificationGuaranteeMember2022-12-310001163165country:VEcop:ConocoPhillipsVersusPetroleosDeVenezuelaMember2019-03-012019-03-310001163165country:VEcop:ConocoPhillipsVersusPetroleosDeVenezuelaMember2019-08-290001163165country:VEcop:ConocoPhillipsVersusPetroleosDeVenezuelaMember2022-12-310001163165country:VEcop:ConocoPhillipsVersusPetroleosDeVenezuela2Member2018-04-012018-04-300001163165country:VEcop:ConocoPhillipsVersusPetroleosDeVenezuela2Member2018-08-012018-08-310001163165country:VEcop:ConocoPhillipsVersusPetroleosDeVenezuela2Member2018-04-012022-12-310001163165country:VEcop:ConocoPhillipsVersusPetroleosDeVenezuela2Member2019-08-022019-08-020001163165cop:SeveralLouisianaParishesAndTheStateOfLouisianaAgainstOilAndGasCompaniesMember2017-01-012017-12-31cop:lawsuit0001163165cop:SeveralLouisianaParishesAndTheStateOfLouisianaAgainstOilAndGasCompaniesMembercop:ConocoPhillipsEntitiesMember2017-01-012017-12-310001163165cop:PhillipsPetroleumCompanyMembercop:OuterContinentalShelfLeaseMember2020-10-310001163165cop:PhillipsPetroleumCompanyMembercop:OuterContinentalShelfLeaseMember2020-10-012020-10-310001163165cop:AsiaPacificOperatingSegmentMemberus-gaap:OperatingSegmentsMembercop:BarossaProjectMember2021-05-100001163165us-gaap:CommodityContractMemberus-gaap:PrepaidExpensesAndOtherCurrentAssetsMember2022-12-310001163165us-gaap:CommodityContractMemberus-gaap:PrepaidExpensesAndOtherCurrentAssetsMember2021-12-310001163165us-gaap:OtherAssetsMemberus-gaap:CommodityContractMember2022-12-310001163165us-gaap:OtherAssetsMemberus-gaap:CommodityContractMember2021-12-310001163165us-gaap:CommodityContractMembercop:OtherAccrualsMember2022-12-310001163165us-gaap:CommodityContractMembercop:OtherAccrualsMember2021-12-310001163165us-gaap:OtherLiabilitiesMemberus-gaap:CommodityContractMember2022-12-310001163165us-gaap:OtherLiabilitiesMemberus-gaap:CommodityContractMember2021-12-310001163165us-gaap:SalesMemberus-gaap:CommodityContractMember2022-01-012022-12-310001163165us-gaap:SalesMemberus-gaap:CommodityContractMember2021-01-012021-12-310001163165us-gaap:SalesMemberus-gaap:CommodityContractMember2020-01-012020-12-310001163165us-gaap:OtherIncomeMemberus-gaap:CommodityContractMember2022-01-012022-12-310001163165us-gaap:OtherIncomeMemberus-gaap:CommodityContractMember2021-01-012021-12-310001163165us-gaap:OtherIncomeMemberus-gaap:CommodityContractMember2020-01-012020-12-310001163165us-gaap:CostOfSalesMemberus-gaap:CommodityContractMember2022-01-012022-12-310001163165us-gaap:CostOfSalesMemberus-gaap:CommodityContractMember2021-01-012021-12-310001163165us-gaap:CostOfSalesMemberus-gaap:CommodityContractMember2020-01-012020-12-310001163165us-gaap:CommodityContractMembercop:ConchoResourcesIncorporatedMember2021-01-150001163165us-gaap:CommodityContractMembercop:ConchoResourcesIncorporatedMember2021-01-012021-12-310001163165us-gaap:ShortMembercop:NaturalGasPowerAndCarbonDioxideEmissionsFlatPriceMemberus-gaap:CommodityContractMember2022-01-012022-12-31utr:Bcf0001163165cop:NaturalGasPowerAndCarbonDioxideEmissionsFlatPriceMemberus-gaap:CommodityContractMemberus-gaap:LongMember2021-01-012021-12-310001163165us-gaap:ShortMemberus-gaap:CommodityContractMembercop:NaturalGasPowerAndCarbonDioxideEmissionsBasisMember2022-01-012022-12-310001163165us-gaap:ShortMemberus-gaap:CommodityContractMembercop:NaturalGasPowerAndCarbonDioxideEmissionsBasisMember2021-01-012021-12-310001163165us-gaap:CashMember2022-12-310001163165us-gaap:CashMember2021-12-310001163165us-gaap:DemandDepositsMember2022-12-310001163165us-gaap:DemandDepositsMember2021-12-310001163165us-gaap:BankTimeDepositsMembercop:RemainingMaturities1To90DaysMember2022-12-310001163165us-gaap:BankTimeDepositsMembercop:RemainingMaturities1To90DaysMember2021-12-310001163165cop:RemainingMaturities91To180DaysMemberus-gaap:BankTimeDepositsMember2022-12-310001163165cop:RemainingMaturities91To180DaysMemberus-gaap:BankTimeDepositsMember2021-12-310001163165cop:RemainingMaturitiesWithinOneYearMemberus-gaap:BankTimeDepositsMember2022-12-310001163165cop:RemainingMaturitiesWithinOneYearMemberus-gaap:BankTimeDepositsMember2021-12-310001163165us-gaap:USGovernmentDebtSecuritiesMembercop:RemainingMaturities1To90DaysMember2022-12-310001163165us-gaap:USGovernmentDebtSecuritiesMembercop:RemainingMaturities1To90DaysMember2021-12-310001163165us-gaap:CorporateDebtSecuritiesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMembercop:RemainingMaturitiesWithinOneYearMember2022-12-310001163165us-gaap:CorporateDebtSecuritiesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMembercop:RemainingMaturitiesWithinOneYearMember2021-12-310001163165cop:RemainingMaturitiesGreaterThanOneYearThroughEightYearsMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-12-310001163165cop:RemainingMaturitiesGreaterThanOneYearThroughEightYearsMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2021-12-310001163165us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:CommercialPaperMembercop:RemainingMaturitiesWithinOneYearMember2022-12-310001163165us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:CommercialPaperMembercop:RemainingMaturitiesWithinOneYearMember2021-12-310001163165us-gaap:USGovernmentDebtSecuritiesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMembercop:RemainingMaturitiesWithinOneYearMember2022-12-310001163165us-gaap:USGovernmentDebtSecuritiesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMembercop:RemainingMaturitiesWithinOneYearMember2021-12-310001163165cop:RemainingMaturitiesGreaterThanOneYearThroughEightYearsMemberus-gaap:USGovernmentDebtSecuritiesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-12-310001163165cop:RemainingMaturitiesGreaterThanOneYearThroughEightYearsMemberus-gaap:USGovernmentDebtSecuritiesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2021-12-310001163165us-gaap:USGovernmentCorporationsAndAgenciesSecuritiesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMembercop:RemainingMaturitiesWithinOneYearMember2022-12-310001163165us-gaap:USGovernmentCorporationsAndAgenciesSecuritiesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMembercop:RemainingMaturitiesWithinOneYearMember2021-12-310001163165cop:RemainingMaturitiesGreaterThanOneYearThroughEightYearsMemberus-gaap:USGovernmentCorporationsAndAgenciesSecuritiesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-12-310001163165cop:RemainingMaturitiesGreaterThanOneYearThroughEightYearsMemberus-gaap:USGovernmentCorporationsAndAgenciesSecuritiesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2021-12-310001163165us-gaap:ForeignGovernmentDebtMemberus-gaap:CarryingReportedAmountFairValueDisclosureMembercop:RemainingMaturitiesWithinOneYearMember2022-12-310001163165us-gaap:ForeignGovernmentDebtMemberus-gaap:CarryingReportedAmountFairValueDisclosureMembercop:RemainingMaturitiesWithinOneYearMember2021-12-310001163165cop:RemainingMaturitiesGreaterThanOneYearThroughEightYearsMemberus-gaap:ForeignGovernmentDebtMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-12-310001163165cop:RemainingMaturitiesGreaterThanOneYearThroughEightYearsMemberus-gaap:ForeignGovernmentDebtMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2021-12-310001163165us-gaap:CarryingReportedAmountFairValueDisclosureMembercop:RemainingMaturitiesWithinOneYearMemberus-gaap:AssetBackedSecuritiesMember2022-12-310001163165us-gaap:CarryingReportedAmountFairValueDisclosureMembercop:RemainingMaturitiesWithinOneYearMemberus-gaap:AssetBackedSecuritiesMember2021-12-310001163165cop:RemainingMaturitiesGreaterThanOneYearThroughEightYearsMemberus-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:AssetBackedSecuritiesMember2022-12-310001163165cop:RemainingMaturitiesGreaterThanOneYearThroughEightYearsMemberus-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:AssetBackedSecuritiesMember2021-12-310001163165us-gaap:CarryingReportedAmountFairValueDisclosureMembercop:RemainingMaturitiesWithinOneYearMember2022-12-310001163165us-gaap:CarryingReportedAmountFairValueDisclosureMembercop:RemainingMaturitiesWithinOneYearMember2021-12-310001163165cop:RemainingMaturitiesGreaterThanOneYearThroughEightYearsMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-12-310001163165cop:RemainingMaturitiesGreaterThanOneYearThroughEightYearsMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2021-12-310001163165us-gaap:CorporateDebtSecuritiesMember2022-12-310001163165us-gaap:CorporateDebtSecuritiesMember2021-12-310001163165us-gaap:CommercialPaperMember2022-12-310001163165us-gaap:CommercialPaperMember2021-12-310001163165us-gaap:USGovernmentDebtSecuritiesMember2022-12-310001163165us-gaap:USGovernmentDebtSecuritiesMember2021-12-310001163165us-gaap:USGovernmentCorporationsAndAgenciesSecuritiesMember2022-12-310001163165us-gaap:USGovernmentCorporationsAndAgenciesSecuritiesMember2021-12-310001163165us-gaap:ForeignGovernmentDebtMember2022-12-310001163165us-gaap:ForeignGovernmentDebtMember2021-12-310001163165us-gaap:AssetBackedSecuritiesMember2022-12-310001163165us-gaap:AssetBackedSecuritiesMember2021-12-310001163165us-gaap:AccountsReceivableMembersrt:MaximumMember2022-01-012022-12-310001163165cop:InEventOfLoweredCreditRatingMember2022-12-310001163165cop:InEventOfLoweredCreditRatingMember2021-12-310001163165cop:InEventOfDowngradeBelowInvestmentGradeMember2022-12-310001163165us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001163165us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2022-12-310001163165us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001163165us-gaap:FairValueMeasurementsRecurringMember2022-12-310001163165us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001163165us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2021-12-310001163165us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001163165us-gaap:FairValueMeasurementsRecurringMember2021-12-310001163165us-gaap:FairValueMeasurementsNonrecurringMember2021-12-310001163165us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMember2021-12-310001163165us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel2Member2021-12-310001163165us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2021-12-310001163165us-gaap:FairValueMeasurementsNonrecurringMember2021-01-012021-12-310001163165cop:Lower48GulfCoastAndRockiesNoncoreFieldMembercop:LowerFortyEightMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2021-12-310001163165us-gaap:ValuationTechniqueDiscountedCashFlowMembercop:Lower48GulfCoastAndRockiesNoncoreFieldMembercop:MeasurementInputNaturalGasMembercop:LowerFortyEightMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMembersrt:MinimumMember2021-12-31utr:MMcf0001163165us-gaap:ValuationTechniqueDiscountedCashFlowMembercop:Lower48GulfCoastAndRockiesNoncoreFieldMembercop:MeasurementInputNaturalGasMembercop:LowerFortyEightMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMembersrt:MaximumMember2021-12-310001163165us-gaap:ValuationTechniqueDiscountedCashFlowMembercop:Lower48GulfCoastAndRockiesNoncoreFieldMembercop:MeasurementInputNaturalGasMembersrt:ArithmeticAverageMembercop:LowerFortyEightMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2021-12-310001163165us-gaap:ValuationTechniqueDiscountedCashFlowMembercop:Lower48GulfCoastAndRockiesNoncoreFieldMembercop:MeasurementInputNaturalGasMembercop:LowerFortyEightMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMembersrt:MinimumMember2021-01-012021-03-310001163165us-gaap:ValuationTechniqueDiscountedCashFlowMembercop:Lower48GulfCoastAndRockiesNoncoreFieldMembercop:MeasurementInputNaturalGasMembercop:LowerFortyEightMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMembersrt:MaximumMember2021-01-012021-03-310001163165us-gaap:ValuationTechniqueDiscountedCashFlowMembercop:Lower48GulfCoastAndRockiesNoncoreFieldMembercop:MeasurementInputNaturalGasMembersrt:ArithmeticAverageMembercop:LowerFortyEightMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2021-01-012021-03-310001163165us-gaap:ValuationTechniqueDiscountedCashFlowMembercop:Lower48GulfCoastAndRockiesNoncoreFieldMemberus-gaap:MeasurementInputDiscountRateMembercop:LowerFortyEightMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMembersrt:MinimumMember2021-01-012021-03-310001163165us-gaap:ValuationTechniqueDiscountedCashFlowMembercop:Lower48GulfCoastAndRockiesNoncoreFieldMemberus-gaap:MeasurementInputDiscountRateMembercop:LowerFortyEightMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMembersrt:MaximumMember2021-01-012021-03-310001163165us-gaap:ValuationTechniqueDiscountedCashFlowMembercop:Lower48GulfCoastAndRockiesNoncoreFieldMemberus-gaap:MeasurementInputDiscountRateMembersrt:ArithmeticAverageMembercop:LowerFortyEightMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2021-01-012021-03-310001163165us-gaap:ValuationTechniqueDiscountedCashFlowMembercop:Lower48GulfCoastAndRockiesNoncoreFieldMembercop:LowerFortyEightMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputCommodityFuturePriceMember2021-01-012021-12-310001163165cop:AplngMember2021-12-310001163165cop:AplngMemberus-gaap:EquityMethodInvestmentsMember2021-12-310001163165cop:AplngMemberus-gaap:EquityMethodInvestmentsMember2021-10-012021-12-310001163165us-gaap:CarryingReportedAmountFairValueDisclosureMember2022-12-310001163165us-gaap:CarryingReportedAmountFairValueDisclosureMember2021-12-310001163165us-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310001163165us-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-310001163165us-gaap:CommodityContractMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-12-310001163165us-gaap:CommodityContractMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2021-12-310001163165us-gaap:CommodityContractMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310001163165us-gaap:CommodityContractMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-3100011631652022-09-3000011631652022-10-3100011631652016-12-312022-12-310001163165cop:PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortizationMember2021-12-310001163165cop:DebtCurrentMember2022-12-310001163165cop:DebtCurrentMember2021-12-310001163165cop:OtherAccrualsMember2022-12-310001163165cop:OtherAccrualsMember2021-12-310001163165cop:LongTermDebtAndLeaseObligationMember2022-12-310001163165cop:LongTermDebtAndLeaseObligationMember2021-12-310001163165cop:OtherLiabilitiesAndDeferredCreditsMember2022-12-310001163165cop:OtherLiabilitiesAndDeferredCreditsMember2021-12-310001163165cop:ProportionatelyConsolidatedMember2022-12-310001163165cop:ProportionatelyConsolidatedMember2021-12-310001163165country:USus-gaap:PensionPlansDefinedBenefitMember2021-12-310001163165us-gaap:ForeignPlanMemberus-gaap:PensionPlansDefinedBenefitMember2021-12-310001163165country:USus-gaap:PensionPlansDefinedBenefitMember2020-12-310001163165us-gaap:ForeignPlanMemberus-gaap:PensionPlansDefinedBenefitMember2020-12-310001163165us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2021-12-310001163165us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2020-12-310001163165country:USus-gaap:PensionPlansDefinedBenefitMember2022-01-012022-12-310001163165us-gaap:ForeignPlanMemberus-gaap:PensionPlansDefinedBenefitMember2022-01-012022-12-310001163165country:USus-gaap:PensionPlansDefinedBenefitMember2021-01-012021-12-310001163165us-gaap:ForeignPlanMemberus-gaap:PensionPlansDefinedBenefitMember2021-01-012021-12-310001163165us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2022-01-012022-12-310001163165us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2021-01-012021-12-310001163165country:USus-gaap:PensionPlansDefinedBenefitMember2022-12-310001163165us-gaap:ForeignPlanMemberus-gaap:PensionPlansDefinedBenefitMember2022-12-310001163165us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2022-12-310001163165country:USus-gaap:PensionPlansDefinedBenefitMember2020-01-012020-12-310001163165us-gaap:ForeignPlanMemberus-gaap:PensionPlansDefinedBenefitMember2020-01-012020-12-310001163165us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2020-01-012020-12-310001163165cop:CopPreSixtyFiveRetireeMembercountry:USus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2022-12-310001163165country:USus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMembercop:PostSixtyFiveRetireeMember2022-12-310001163165us-gaap:DefinedBenefitPlanEquitySecuritiesMember2022-12-310001163165us-gaap:DefinedBenefitPlanDebtSecurityMember2022-12-310001163165us-gaap:DefinedBenefitPlanRealEstateMember2022-12-310001163165us-gaap:InsuranceContractRightsAndObligationsFairValueOptionMemberus-gaap:FairValueInputsLevel3Membercountry:USus-gaap:PensionPlansDefinedBenefitMember2022-12-310001163165us-gaap:InsuranceContractRightsAndObligationsFairValueOptionMemberus-gaap:FairValueInputsLevel3Membercountry:USus-gaap:DefinedBenefitPlanDebtSecurityMemberus-gaap:PensionPlansDefinedBenefitMember2022-12-310001163165us-gaap:InsuranceContractRightsAndObligationsFairValueOptionMemberus-gaap:FairValueInputsLevel3Membercountry:USus-gaap:PensionPlansDefinedBenefitMember2021-12-310001163165us-gaap:InsuranceContractRightsAndObligationsFairValueOptionMemberus-gaap:FairValueInputsLevel3Membercountry:USus-gaap:DefinedBenefitPlanDebtSecurityMemberus-gaap:PensionPlansDefinedBenefitMember2021-12-310001163165us-gaap:DefinedBenefitPlanEquitySecuritiesUsMemberus-gaap:FairValueInputsLevel1Membercountry:US2022-12-310001163165us-gaap:DefinedBenefitPlanEquitySecuritiesUsMembercountry:USus-gaap:FairValueInputsLevel2Member2022-12-310001163165us-gaap:DefinedBenefitPlanEquitySecuritiesUsMemberus-gaap:FairValueInputsLevel3Membercountry:US2022-12-310001163165us-gaap:DefinedBenefitPlanEquitySecuritiesUsMembercountry:US2022-12-310001163165us-gaap:DefinedBenefitPlanEquitySecuritiesUsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:ForeignPlanMember2022-12-310001163165us-gaap:DefinedBenefitPlanEquitySecuritiesUsMemberus-gaap:ForeignPlanMemberus-gaap:FairValueInputsLevel2Member2022-12-310001163165us-gaap:DefinedBenefitPlanEquitySecuritiesUsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ForeignPlanMember2022-12-310001163165us-gaap:DefinedBenefitPlanEquitySecuritiesUsMemberus-gaap:ForeignPlanMember2022-12-310001163165us-gaap:FairValueInputsLevel1Memberus-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMembercountry:US2022-12-310001163165us-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMembercountry:USus-gaap:FairValueInputsLevel2Member2022-12-310001163165us-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMemberus-gaap:FairValueInputsLevel3Membercountry:US2022-12-310001163165us-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMembercountry:US2022-12-310001163165us-gaap:FairValueInputsLevel1Memberus-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMemberus-gaap:ForeignPlanMember2022-12-310001163165us-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMemberus-gaap:ForeignPlanMemberus-gaap:FairValueInputsLevel2Member2022-12-310001163165us-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ForeignPlanMember2022-12-310001163165us-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMemberus-gaap:ForeignPlanMember2022-12-310001163165us-gaap:FairValueInputsLevel1Membercountry:USus-gaap:EquityFundsMember2022-12-310001163165country:USus-gaap:FairValueInputsLevel2Memberus-gaap:EquityFundsMember2022-12-310001163165us-gaap:FairValueInputsLevel3Membercountry:USus-gaap:EquityFundsMember2022-12-310001163165country:USus-gaap:EquityFundsMember2022-12-310001163165us-gaap:FairValueInputsLevel1Memberus-gaap:ForeignPlanMemberus-gaap:EquityFundsMember2022-12-310001163165us-gaap:ForeignPlanMemberus-gaap:FairValueInputsLevel2Memberus-gaap:EquityFundsMember2022-12-310001163165us-gaap:FairValueInputsLevel3Memberus-gaap:ForeignPlanMemberus-gaap:EquityFundsMember2022-12-310001163165us-gaap:ForeignPlanMemberus-gaap:EquityFundsMember2022-12-310001163165us-gaap:FairValueInputsLevel1Membercountry:USus-gaap:DefinedBenefitPlanDebtSecurityMember2022-12-310001163165country:USus-gaap:DefinedBenefitPlanDebtSecurityMemberus-gaap:FairValueInputsLevel2Member2022-12-310001163165us-gaap:FairValueInputsLevel3Membercountry:USus-gaap:DefinedBenefitPlanDebtSecurityMember2022-12-310001163165country:USus-gaap:DefinedBenefitPlanDebtSecurityMember2022-12-310001163165us-gaap:FairValueInputsLevel1Memberus-gaap:DefinedBenefitPlanDebtSecurityMemberus-gaap:ForeignPlanMember2022-12-310001163165us-gaap:DefinedBenefitPlanDebtSecurityMemberus-gaap:ForeignPlanMemberus-gaap:FairValueInputsLevel2Member2022-12-310001163165us-gaap:FairValueInputsLevel3Memberus-gaap:DefinedBenefitPlanDebtSecurityMemberus-gaap:ForeignPlanMember2022-12-310001163165us-gaap:DefinedBenefitPlanDebtSecurityMemberus-gaap:ForeignPlanMember2022-12-310001163165us-gaap:FairValueInputsLevel1Memberus-gaap:MutualFundMembercountry:US2022-12-310001163165us-gaap:MutualFundMembercountry:USus-gaap:FairValueInputsLevel2Member2022-12-310001163165us-gaap:FairValueInputsLevel3Memberus-gaap:MutualFundMembercountry:US2022-12-310001163165us-gaap:MutualFundMembercountry:US2022-12-310001163165us-gaap:FairValueInputsLevel1Memberus-gaap:MutualFundMemberus-gaap:ForeignPlanMember2022-12-310001163165us-gaap:MutualFundMemberus-gaap:ForeignPlanMemberus-gaap:FairValueInputsLevel2Member2022-12-310001163165us-gaap:FairValueInputsLevel3Memberus-gaap:MutualFundMemberus-gaap:ForeignPlanMember2022-12-310001163165us-gaap:MutualFundMemberus-gaap:ForeignPlanMember2022-12-310001163165us-gaap:FairValueInputsLevel1Membercountry:USus-gaap:DefinedBenefitPlanCashAndCashEquivalentsMember2022-12-310001163165country:USus-gaap:FairValueInputsLevel2Memberus-gaap:DefinedBenefitPlanCashAndCashEquivalentsMember2022-12-310001163165us-gaap:FairValueInputsLevel3Membercountry:USus-gaap:DefinedBenefitPlanCashAndCashEquivalentsMember2022-12-310001163165country:USus-gaap:DefinedBenefitPlanCashAndCashEquivalentsMember2022-12-310001163165us-gaap:FairValueInputsLevel1Memberus-gaap:ForeignPlanMemberus-gaap:DefinedBenefitPlanCashAndCashEquivalentsMember2022-12-310001163165us-gaap:ForeignPlanMemberus-gaap:FairValueInputsLevel2Memberus-gaap:DefinedBenefitPlanCashAndCashEquivalentsMember2022-12-310001163165us-gaap:FairValueInputsLevel3Memberus-gaap:ForeignPlanMemberus-gaap:DefinedBenefitPlanCashAndCashEquivalentsMember2022-12-310001163165us-gaap:ForeignPlanMemberus-gaap:DefinedBenefitPlanCashAndCashEquivalentsMember2022-12-310001163165us-gaap:DefinedBenefitPlanRealEstateMemberus-gaap:FairValueInputsLevel1Membercountry:US2022-12-310001163165us-gaap:DefinedBenefitPlanRealEstateMembercountry:USus-gaap:FairValueInputsLevel2Member2022-12-310001163165us-gaap:DefinedBenefitPlanRealEstateMemberus-gaap:FairValueInputsLevel3Membercountry:US2022-12-310001163165us-gaap:DefinedBenefitPlanRealEstateMembercountry:US2022-12-310001163165us-gaap:DefinedBenefitPlanRealEstateMemberus-gaap:FairValueInputsLevel1Memberus-gaap:ForeignPlanMember2022-12-310001163165us-gaap:DefinedBenefitPlanRealEstateMemberus-gaap:ForeignPlanMemberus-gaap:FairValueInputsLevel2Member2022-12-310001163165us-gaap:DefinedBenefitPlanRealEstateMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ForeignPlanMember2022-12-310001163165us-gaap:DefinedBenefitPlanRealEstateMemberus-gaap:ForeignPlanMember2022-12-310001163165us-gaap:FairValueInputsLevel1Membercountry:US2022-12-310001163165country:USus-gaap:FairValueInputsLevel2Member2022-12-310001163165us-gaap:FairValueInputsLevel3Membercountry:US2022-12-310001163165country:US2022-12-310001163165us-gaap:FairValueInputsLevel1Memberus-gaap:ForeignPlanMember2022-12-310001163165us-gaap:ForeignPlanMemberus-gaap:FairValueInputsLevel2Member2022-12-310001163165us-gaap:FairValueInputsLevel3Memberus-gaap:ForeignPlanMember2022-12-310001163165us-gaap:ForeignPlanMember2022-12-310001163165country:USus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMembercop:DefinedBenefitPlanCommonCollectiveTrustEquitySecuritiesMember2022-12-310001163165us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:ForeignPlanMembercop:DefinedBenefitPlanCommonCollectiveTrustEquitySecuritiesMember2022-12-310001163165country:USus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:DefinedBenefitPlanCommonCollectiveTrustMember2022-12-310001163165us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:DefinedBenefitPlanCommonCollectiveTrustMemberus-gaap:ForeignPlanMember2022-12-310001163165country:USus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:DefinedBenefitPlanCashAndCashEquivalentsMember2022-12-310001163165us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:ForeignPlanMemberus-gaap:DefinedBenefitPlanCashAndCashEquivalentsMember2022-12-310001163165us-gaap:DefinedBenefitPlanRealEstateMembercountry:USus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember2022-12-310001163165us-gaap:DefinedBenefitPlanRealEstateMemberus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:ForeignPlanMember2022-12-310001163165us-gaap:FairValueInputsLevel1Membercountry:USus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember2022-12-310001163165country:USus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel2Member2022-12-310001163165us-gaap:FairValueInputsLevel3Membercountry:USus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember2022-12-310001163165country:USus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember2022-12-310001163165us-gaap:FairValueInputsLevel1Memberus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:ForeignPlanMember2022-12-310001163165us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:ForeignPlanMemberus-gaap:FairValueInputsLevel2Member2022-12-310001163165us-gaap:FairValueInputsLevel3Memberus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:ForeignPlanMember2022-12-310001163165us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:ForeignPlanMember2022-12-310001163165us-gaap:InsuranceContractRightsAndObligationsFairValueOptionMember2022-12-310001163165us-gaap:DefinedBenefitPlanEquitySecuritiesUsMemberus-gaap:FairValueInputsLevel1Membercountry:US2021-12-310001163165us-gaap:DefinedBenefitPlanEquitySecuritiesUsMembercountry:USus-gaap:FairValueInputsLevel2Member2021-12-310001163165us-gaap:DefinedBenefitPlanEquitySecuritiesUsMemberus-gaap:FairValueInputsLevel3Membercountry:US2021-12-310001163165us-gaap:DefinedBenefitPlanEquitySecuritiesUsMembercountry:US2021-12-310001163165us-gaap:DefinedBenefitPlanEquitySecuritiesUsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:ForeignPlanMember2021-12-310001163165us-gaap:DefinedBenefitPlanEquitySecuritiesUsMemberus-gaap:ForeignPlanMemberus-gaap:FairValueInputsLevel2Member2021-12-310001163165us-gaap:DefinedBenefitPlanEquitySecuritiesUsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ForeignPlanMember2021-12-310001163165us-gaap:DefinedBenefitPlanEquitySecuritiesUsMemberus-gaap:ForeignPlanMember2021-12-310001163165us-gaap:FairValueInputsLevel1Memberus-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMembercountry:US2021-12-310001163165us-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMembercountry:USus-gaap:FairValueInputsLevel2Member2021-12-310001163165us-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMemberus-gaap:FairValueInputsLevel3Membercountry:US2021-12-310001163165us-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMembercountry:US2021-12-310001163165us-gaap:FairValueInputsLevel1Memberus-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMemberus-gaap:ForeignPlanMember2021-12-310001163165us-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMemberus-gaap:ForeignPlanMemberus-gaap:FairValueInputsLevel2Member2021-12-310001163165us-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ForeignPlanMember2021-12-310001163165us-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMemberus-gaap:ForeignPlanMember2021-12-310001163165us-gaap:FairValueInputsLevel1Membercountry:USus-gaap:EquityFundsMember2021-12-310001163165country:USus-gaap:FairValueInputsLevel2Memberus-gaap:EquityFundsMember2021-12-310001163165us-gaap:FairValueInputsLevel3Membercountry:USus-gaap:EquityFundsMember2021-12-310001163165country:USus-gaap:EquityFundsMember2021-12-310001163165us-gaap:FairValueInputsLevel1Memberus-gaap:ForeignPlanMemberus-gaap:EquityFundsMember2021-12-310001163165us-gaap:ForeignPlanMemberus-gaap:FairValueInputsLevel2Memberus-gaap:EquityFundsMember2021-12-310001163165us-gaap:FairValueInputsLevel3Memberus-gaap:ForeignPlanMemberus-gaap:EquityFundsMember2021-12-310001163165us-gaap:ForeignPlanMemberus-gaap:EquityFundsMember2021-12-310001163165us-gaap:FairValueInputsLevel1Membercountry:USus-gaap:DefinedBenefitPlanDebtSecurityMember2021-12-310001163165country:USus-gaap:DefinedBenefitPlanDebtSecurityMemberus-gaap:FairValueInputsLevel2Member2021-12-310001163165us-gaap:FairValueInputsLevel3Membercountry:USus-gaap:DefinedBenefitPlanDebtSecurityMember2021-12-310001163165country:USus-gaap:DefinedBenefitPlanDebtSecurityMember2021-12-310001163165us-gaap:FairValueInputsLevel1Memberus-gaap:DefinedBenefitPlanDebtSecurityMemberus-gaap:ForeignPlanMember2021-12-310001163165us-gaap:DefinedBenefitPlanDebtSecurityMemberus-gaap:ForeignPlanMemberus-gaap:FairValueInputsLevel2Member2021-12-310001163165us-gaap:FairValueInputsLevel3Memberus-gaap:DefinedBenefitPlanDebtSecurityMemberus-gaap:ForeignPlanMember2021-12-310001163165us-gaap:DefinedBenefitPlanDebtSecurityMemberus-gaap:ForeignPlanMember2021-12-310001163165us-gaap:FairValueInputsLevel1Memberus-gaap:MutualFundMembercountry:US2021-12-310001163165us-gaap:MutualFundMembercountry:USus-gaap:FairValueInputsLevel2Member2021-12-310001163165us-gaap:FairValueInputsLevel3Memberus-gaap:MutualFundMembercountry:US2021-12-310001163165us-gaap:MutualFundMembercountry:US2021-12-310001163165us-gaap:FairValueInputsLevel1Memberus-gaap:MutualFundMemberus-gaap:ForeignPlanMember2021-12-310001163165us-gaap:MutualFundMemberus-gaap:ForeignPlanMemberus-gaap:FairValueInputsLevel2Member2021-12-310001163165us-gaap:FairValueInputsLevel3Memberus-gaap:MutualFundMemberus-gaap:ForeignPlanMember2021-12-310001163165us-gaap:MutualFundMemberus-gaap:ForeignPlanMember2021-12-310001163165us-gaap:FairValueInputsLevel1Membercountry:USus-gaap:DefinedBenefitPlanCashAndCashEquivalentsMember2021-12-310001163165country:USus-gaap:FairValueInputsLevel2Memberus-gaap:DefinedBenefitPlanCashAndCashEquivalentsMember2021-12-310001163165us-gaap:FairValueInputsLevel3Membercountry:USus-gaap:DefinedBenefitPlanCashAndCashEquivalentsMember2021-12-310001163165country:USus-gaap:DefinedBenefitPlanCashAndCashEquivalentsMember2021-12-310001163165us-gaap:FairValueInputsLevel1Memberus-gaap:ForeignPlanMemberus-gaap:DefinedBenefitPlanCashAndCashEquivalentsMember2021-12-310001163165us-gaap:ForeignPlanMemberus-gaap:FairValueInputsLevel2Memberus-gaap:DefinedBenefitPlanCashAndCashEquivalentsMember2021-12-310001163165us-gaap:FairValueInputsLevel3Memberus-gaap:ForeignPlanMemberus-gaap:DefinedBenefitPlanCashAndCashEquivalentsMember2021-12-310001163165us-gaap:ForeignPlanMemberus-gaap:DefinedBenefitPlanCashAndCashEquivalentsMember2021-12-310001163165us-gaap:FairValueInputsLevel1Membercountry:USus-gaap:DefinedBenefitPlanDerivativeMember2021-12-310001163165country:USus-gaap:FairValueInputsLevel2Memberus-gaap:DefinedBenefitPlanDerivativeMember2021-12-310001163165us-gaap:FairValueInputsLevel3Membercountry:USus-gaap:DefinedBenefitPlanDerivativeMember2021-12-310001163165country:USus-gaap:DefinedBenefitPlanDerivativeMember2021-12-310001163165us-gaap:FairValueInputsLevel1Memberus-gaap:ForeignPlanMemberus-gaap:DefinedBenefitPlanDerivativeMember2021-12-310001163165us-gaap:ForeignPlanMemberus-gaap:FairValueInputsLevel2Memberus-gaap:DefinedBenefitPlanDerivativeMember2021-12-310001163165us-gaap:FairValueInputsLevel3Memberus-gaap:ForeignPlanMemberus-gaap:DefinedBenefitPlanDerivativeMember2021-12-310001163165us-gaap:ForeignPlanMemberus-gaap:DefinedBenefitPlanDerivativeMember2021-12-310001163165us-gaap:DefinedBenefitPlanRealEstateMemberus-gaap:FairValueInputsLevel1Membercountry:US2021-12-310001163165us-gaap:DefinedBenefitPlanRealEstateMembercountry:USus-gaap:FairValueInputsLevel2Member2021-12-310001163165us-gaap:DefinedBenefitPlanRealEstateMemberus-gaap:FairValueInputsLevel3Membercountry:US2021-12-310001163165us-gaap:DefinedBenefitPlanRealEstateMembercountry:US2021-12-310001163165us-gaap:DefinedBenefitPlanRealEstateMemberus-gaap:FairValueInputsLevel1Memberus-gaap:ForeignPlanMember2021-12-310001163165us-gaap:DefinedBenefitPlanRealEstateMemberus-gaap:ForeignPlanMemberus-gaap:FairValueInputsLevel2Member2021-12-310001163165us-gaap:DefinedBenefitPlanRealEstateMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ForeignPlanMember2021-12-310001163165us-gaap:DefinedBenefitPlanRealEstateMemberus-gaap:ForeignPlanMember2021-12-310001163165us-gaap:FairValueInputsLevel1Membercountry:US2021-12-310001163165country:USus-gaap:FairValueInputsLevel2Member2021-12-310001163165us-gaap:FairValueInputsLevel3Membercountry:US2021-12-310001163165country:US2021-12-310001163165us-gaap:FairValueInputsLevel1Memberus-gaap:ForeignPlanMember2021-12-310001163165us-gaap:ForeignPlanMemberus-gaap:FairValueInputsLevel2Member2021-12-310001163165us-gaap:FairValueInputsLevel3Memberus-gaap:ForeignPlanMember2021-12-310001163165us-gaap:ForeignPlanMember2021-12-310001163165country:USus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMembercop:DefinedBenefitPlanCommonCollectiveTrustEquitySecuritiesMember2021-12-310001163165us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:ForeignPlanMembercop:DefinedBenefitPlanCommonCollectiveTrustEquitySecuritiesMember2021-12-310001163165country:USus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:DefinedBenefitPlanCommonCollectiveTrustMember2021-12-310001163165us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:DefinedBenefitPlanCommonCollectiveTrustMemberus-gaap:ForeignPlanMember2021-12-310001163165country:USus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:DefinedBenefitPlanCashAndCashEquivalentsMember2021-12-310001163165us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:ForeignPlanMemberus-gaap:DefinedBenefitPlanCashAndCashEquivalentsMember2021-12-310001163165us-gaap:DefinedBenefitPlanRealEstateMembercountry:USus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember2021-12-310001163165us-gaap:DefinedBenefitPlanRealEstateMemberus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:ForeignPlanMember2021-12-310001163165us-gaap:FairValueInputsLevel1Membercountry:USus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember2021-12-310001163165country:USus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel2Member2021-12-310001163165us-gaap:FairValueInputsLevel3Membercountry:USus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember2021-12-310001163165country:USus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember2021-12-310001163165us-gaap:FairValueInputsLevel1Memberus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:ForeignPlanMember2021-12-310001163165us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:ForeignPlanMemberus-gaap:FairValueInputsLevel2Member2021-12-310001163165us-gaap:FairValueInputsLevel3Memberus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:ForeignPlanMember2021-12-310001163165us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:ForeignPlanMember2021-12-310001163165us-gaap:InsuranceContractRightsAndObligationsFairValueOptionMember2021-12-310001163165us-gaap:EmployeeSeveranceMember2021-12-310001163165us-gaap:EmployeeSeveranceMember2020-12-310001163165us-gaap:EmployeeSeveranceMember2019-12-310001163165us-gaap:EmployeeSeveranceMember2022-01-012022-12-310001163165us-gaap:EmployeeSeveranceMember2021-01-012021-12-310001163165us-gaap:EmployeeSeveranceMember2020-01-012020-12-310001163165us-gaap:EmployeeSeveranceMember2022-12-310001163165cop:ShortTermSupplementalUnemploymentBenefitsMemberus-gaap:EmployeeSeveranceMember2022-12-310001163165country:US2022-01-012022-12-31cop:investment_option0001163165country:UScop:DefinedContributionPlanCompanyRetirementContributionMember2022-01-012022-12-310001163165country:US2021-01-012021-12-310001163165country:US2020-01-012020-12-310001163165us-gaap:ForeignPlanMember2022-01-012022-12-310001163165us-gaap:ForeignPlanMember2021-01-012021-12-310001163165us-gaap:ForeignPlanMember2020-01-012020-12-310001163165cop:TwentyFourteenOmnibusStockAndPerformanceIncentivePlanOfConocoPhillipsMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2022-01-012022-12-310001163165cop:TwentyFourteenOmnibusStockAndPerformanceIncentivePlanOfConocoPhillipsMember2022-12-310001163165cop:TwentyFourteenOmnibusStockAndPerformanceIncentivePlanOfConocoPhillipsMembercountry:US2022-12-310001163165cop:IncentiveStockOptionsMembercop:TwentyFourteenOmnibusStockAndPerformanceIncentivePlanOfConocoPhillipsMembercountry:US2022-12-310001163165us-gaap:EmployeeStockOptionMembercop:TwentyFourteenOmnibusStockAndPerformanceIncentivePlanOfConocoPhillipsMember2022-01-012022-12-310001163165us-gaap:EmployeeStockOptionMembercop:TwentyFourteenOmnibusStockAndPerformanceIncentivePlanOfConocoPhillipsMember2021-01-012021-12-310001163165us-gaap:EmployeeStockOptionMembercop:TwentyFourteenOmnibusStockAndPerformanceIncentivePlanOfConocoPhillipsMember2020-01-012020-12-310001163165cop:RSUStockSettledShareMember2021-12-310001163165cop:RSUStockSettledShareMember2022-01-012022-12-310001163165cop:RSUStockSettledShareMember2022-12-310001163165cop:RSUStockSettledShareMember2021-01-012021-12-310001163165cop:RSUStockSettledShareMember2020-01-012020-12-310001163165cop:RSUCashSettledMember2021-12-310001163165cop:RSUCashSettledMember2022-01-012022-12-310001163165cop:RSUCashSettledMember2022-12-310001163165cop:RSUCashSettledMember2021-01-012021-12-310001163165cop:RSUCashSettledMember2020-01-012020-12-310001163165cop:PSUStockSettledMember2021-12-310001163165cop:PSUStockSettledMember2022-01-012022-12-310001163165cop:PSUStockSettledMember2022-12-310001163165cop:PSUStockSettledMember2020-01-012020-12-310001163165cop:PSUStockSettledMember2021-01-012021-12-310001163165cop:PSUCashSettledProgramMember2021-12-310001163165cop:PSUCashSettledProgramMember2022-01-012022-12-310001163165cop:PSUCashSettledProgramMember2022-12-310001163165cop:PSUCashSettledProgramMember2021-01-012021-12-310001163165cop:PSUCashSettledProgramMember2020-01-012020-12-310001163165us-gaap:SegmentDiscontinuedOperationsMemberus-gaap:RestrictedStockUnitsRSUMember2021-12-310001163165us-gaap:SegmentDiscontinuedOperationsMemberus-gaap:RestrictedStockUnitsRSUMember2022-01-012022-12-310001163165us-gaap:SegmentDiscontinuedOperationsMemberus-gaap:RestrictedStockUnitsRSUMember2022-12-310001163165us-gaap:SegmentDiscontinuedOperationsMemberus-gaap:RestrictedStockUnitsRSUMember2021-01-012021-12-310001163165us-gaap:SegmentDiscontinuedOperationsMemberus-gaap:RestrictedStockUnitsRSUMember2020-01-012020-12-310001163165us-gaap:OtherNoncurrentAssetsMember2022-12-310001163165us-gaap:OtherNoncurrentAssetsMember2021-12-310001163165cop:CertainJurisdictionsOutsideOfDomesticMember2022-12-310001163165cop:NorwegianTaxAdministrationMember2022-04-012022-06-300001163165cop:DispositionCveCommonSharesMember2021-01-012021-12-310001163165cop:DispositionOfIndonesiaEntitiesMember2021-12-310001163165cop:ImpairmentOfAplngInvestmentMember2021-01-012021-12-310001163165cop:AustraliaWestMember2020-01-012020-12-310001163165cop:AustraliaWestMember2020-12-310001163165us-gaap:AccumulatedDefinedBenefitPlansAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember2019-12-310001163165us-gaap:AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMember2019-12-310001163165us-gaap:AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember2019-12-310001163165us-gaap:AccumulatedDefinedBenefitPlansAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember2020-01-012020-12-310001163165us-gaap:AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMember2020-01-012020-12-310001163165us-gaap:AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember2020-01-012020-12-310001163165us-gaap:AccumulatedDefinedBenefitPlansAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember2020-12-310001163165us-gaap:AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMember2020-12-310001163165us-gaap:AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember2020-12-310001163165us-gaap:AccumulatedDefinedBenefitPlansAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember2021-01-012021-12-310001163165us-gaap:AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMember2021-01-012021-12-310001163165us-gaap:AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember2021-01-012021-12-310001163165us-gaap:AccumulatedDefinedBenefitPlansAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember2021-12-310001163165us-gaap:AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMember2021-12-310001163165us-gaap:AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember2021-12-310001163165us-gaap:AccumulatedDefinedBenefitPlansAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember2022-01-012022-12-310001163165us-gaap:AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMember2022-01-012022-12-310001163165us-gaap:AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember2022-01-012022-12-310001163165us-gaap:AccumulatedDefinedBenefitPlansAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember2022-12-310001163165us-gaap:AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMember2022-12-310001163165us-gaap:AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember2022-12-310001163165us-gaap:ShippingAndHandlingMember2022-01-012022-12-310001163165us-gaap:ShippingAndHandlingMember2021-01-012021-12-310001163165us-gaap:ShippingAndHandlingMember2020-01-012020-12-310001163165cop:LowerFortyEightSegmentMemberus-gaap:OperatingSegmentsMember2022-01-012022-12-310001163165cop:LowerFortyEightSegmentMemberus-gaap:OperatingSegmentsMember2021-01-012021-12-310001163165cop:LowerFortyEightSegmentMemberus-gaap:OperatingSegmentsMember2020-01-012020-12-310001163165cop:OtherInternationalMemberus-gaap:OperatingSegmentsMember2022-01-012022-12-310001163165cop:OtherInternationalMemberus-gaap:OperatingSegmentsMember2021-01-012021-12-310001163165cop:OtherInternationalMemberus-gaap:OperatingSegmentsMember2020-01-012020-12-310001163165cop:CorporateAndReconcilingItemsMember2022-01-012022-12-310001163165cop:CorporateAndReconcilingItemsMember2021-01-012021-12-310001163165cop:CorporateAndReconcilingItemsMember2020-01-012020-12-310001163165cop:PhysicalGasContractsMember2022-01-012022-12-310001163165cop:PhysicalGasContractsMember2021-01-012021-12-310001163165cop:PhysicalGasContractsMember2020-01-012020-12-310001163165cop:FinancialDerivativeContractsMember2022-01-012022-12-310001163165cop:FinancialDerivativeContractsMember2021-01-012021-12-310001163165cop:FinancialDerivativeContractsMember2020-01-012020-12-310001163165cop:LowerFortyEightSegmentMembercop:PhysicalGasContractsMember2022-01-012022-12-310001163165cop:LowerFortyEightSegmentMembercop:PhysicalGasContractsMember2021-01-012021-12-310001163165cop:LowerFortyEightSegmentMembercop:PhysicalGasContractsMember2020-01-012020-12-310001163165cop:CanadaSegmentMembercop:PhysicalGasContractsMember2022-01-012022-12-310001163165cop:CanadaSegmentMembercop:PhysicalGasContractsMember2021-01-012021-12-310001163165cop:CanadaSegmentMembercop:PhysicalGasContractsMember2020-01-012020-12-310001163165cop:EuropeMiddleEastAndNorthAfricaSegmentMembercop:PhysicalGasContractsMember2022-01-012022-12-310001163165cop:EuropeMiddleEastAndNorthAfricaSegmentMembercop:PhysicalGasContractsMember2021-01-012021-12-310001163165cop:EuropeMiddleEastAndNorthAfricaSegmentMembercop:PhysicalGasContractsMember2020-01-012020-12-310001163165cop:CrudeOilProductLineMember2022-01-012022-12-310001163165cop:CrudeOilProductLineMember2021-01-012021-12-310001163165cop:CrudeOilProductLineMember2020-01-012020-12-310001163165cop:NaturalGasProductLineMember2022-01-012022-12-310001163165cop:NaturalGasProductLineMember2021-01-012021-12-310001163165cop:NaturalGasProductLineMember2020-01-012020-12-310001163165cop:OtherProductsMember2022-01-012022-12-310001163165cop:OtherProductsMember2021-01-012021-12-310001163165cop:OtherProductsMember2020-01-012020-12-310001163165cop:AlaskaSegmentMember2022-01-012022-12-310001163165cop:AlaskaSegmentMember2021-01-012021-12-310001163165cop:AlaskaSegmentMemberus-gaap:IntersegmentEliminationMember2022-01-012022-12-310001163165cop:AlaskaSegmentMemberus-gaap:IntersegmentEliminationMember2021-01-012021-12-310001163165cop:AlaskaSegmentMemberus-gaap:IntersegmentEliminationMember2020-01-012020-12-310001163165cop:LowerFortyEightMember2022-01-012022-12-310001163165cop:LowerFortyEightMember2020-01-012020-12-310001163165us-gaap:IntersegmentEliminationMembercop:LowerFortyEightMember2022-01-012022-12-310001163165us-gaap:IntersegmentEliminationMembercop:LowerFortyEightMember2021-01-012021-12-310001163165us-gaap:IntersegmentEliminationMembercop:LowerFortyEightMember2020-01-012020-12-310001163165cop:CanadaOperatingSegmentMember2022-01-012022-12-310001163165cop:CanadaOperatingSegmentMember2021-01-012021-12-310001163165cop:CanadaOperatingSegmentMember2020-01-012020-12-310001163165us-gaap:IntersegmentEliminationMembercop:CanadaOperatingSegmentMember2022-01-012022-12-310001163165us-gaap:IntersegmentEliminationMembercop:CanadaOperatingSegmentMember2021-01-012021-12-310001163165us-gaap:IntersegmentEliminationMembercop:CanadaOperatingSegmentMember2020-01-012020-12-310001163165us-gaap:OperatingSegmentsMembercop:CanadaOperatingSegmentMember2022-01-012022-12-310001163165us-gaap:OperatingSegmentsMembercop:CanadaOperatingSegmentMember2021-01-012021-12-310001163165us-gaap:OperatingSegmentsMembercop:CanadaOperatingSegmentMember2020-01-012020-12-310001163165cop:EuropeMiddleEastAndNorthAfricaSegmentMember2021-01-012021-12-310001163165cop:EuropeMiddleEastAndNorthAfricaSegmentMember2020-01-012020-12-310001163165cop:EuropeMiddleEastAndNorthAfricaSegmentMemberus-gaap:IntersegmentEliminationMember2022-01-012022-12-310001163165cop:EuropeMiddleEastAndNorthAfricaSegmentMemberus-gaap:IntersegmentEliminationMember2021-01-012021-12-310001163165cop:EuropeMiddleEastAndNorthAfricaSegmentMemberus-gaap:IntersegmentEliminationMember2020-01-012020-12-310001163165us-gaap:OperatingSegmentsMember2022-01-012022-12-310001163165us-gaap:OperatingSegmentsMember2021-01-012021-12-310001163165us-gaap:OperatingSegmentsMember2020-01-012020-12-310001163165cop:AlaskaSegmentMemberus-gaap:OperatingSegmentsMember2022-12-310001163165cop:AlaskaSegmentMemberus-gaap:OperatingSegmentsMember2021-12-310001163165cop:AlaskaSegmentMemberus-gaap:OperatingSegmentsMember2020-12-310001163165cop:LowerFortyEightMemberus-gaap:OperatingSegmentsMember2022-12-310001163165cop:LowerFortyEightMemberus-gaap:OperatingSegmentsMember2021-12-310001163165cop:LowerFortyEightMemberus-gaap:OperatingSegmentsMember2020-12-310001163165us-gaap:OperatingSegmentsMembercop:CanadaOperatingSegmentMember2022-12-310001163165us-gaap:OperatingSegmentsMembercop:CanadaOperatingSegmentMember2021-12-310001163165us-gaap:OperatingSegmentsMembercop:CanadaOperatingSegmentMember2020-12-310001163165cop:EuropeMiddleEastAndNorthAfricaSegmentMemberus-gaap:OperatingSegmentsMember2022-12-310001163165cop:EuropeMiddleEastAndNorthAfricaSegmentMemberus-gaap:OperatingSegmentsMember2021-12-310001163165cop:EuropeMiddleEastAndNorthAfricaSegmentMemberus-gaap:OperatingSegmentsMember2020-12-310001163165cop:AsiaPacificOperatingSegmentMemberus-gaap:OperatingSegmentsMember2022-12-310001163165cop:AsiaPacificOperatingSegmentMemberus-gaap:OperatingSegmentsMember2021-12-310001163165cop:AsiaPacificOperatingSegmentMemberus-gaap:OperatingSegmentsMember2020-12-310001163165cop:OtherInternationalMemberus-gaap:OperatingSegmentsMember2022-12-310001163165cop:OtherInternationalMemberus-gaap:OperatingSegmentsMember2021-12-310001163165cop:OtherInternationalMemberus-gaap:OperatingSegmentsMember2020-12-310001163165cop:CorporateAndReconcilingItemsMember2022-12-310001163165cop:CorporateAndReconcilingItemsMember2021-12-310001163165cop:CorporateAndReconcilingItemsMember2020-12-310001163165srt:CrudeOilMember2022-01-012022-12-310001163165srt:CrudeOilMember2021-01-012021-12-310001163165srt:CrudeOilMember2020-01-012020-12-310001163165srt:NaturalGasReservesMember2022-01-012022-12-310001163165srt:NaturalGasReservesMember2021-01-012021-12-310001163165srt:NaturalGasReservesMember2020-01-012020-12-310001163165srt:NaturalGasLiquidsReservesMember2022-01-012022-12-310001163165srt:NaturalGasLiquidsReservesMember2021-01-012021-12-310001163165srt:NaturalGasLiquidsReservesMember2020-01-012020-12-310001163165cop:OtherProductsMember2022-01-012022-12-310001163165cop:OtherProductsMember2021-01-012021-12-310001163165cop:OtherProductsMember2020-01-012020-12-310001163165country:US2022-01-012022-12-310001163165country:US2021-01-012021-12-310001163165country:US2020-01-012020-12-310001163165country:US2022-12-310001163165country:US2021-12-310001163165country:US2020-12-310001163165country:AU2022-01-012022-12-310001163165country:AU2021-01-012021-12-310001163165country:AU2020-01-012020-12-310001163165country:AU2022-12-310001163165country:AU2021-12-310001163165country:AU2020-12-310001163165country:CA2022-01-012022-12-310001163165country:CA2021-01-012021-12-310001163165country:CA2020-01-012020-12-310001163165country:CA2022-12-310001163165country:CA2021-12-310001163165country:CA2020-12-310001163165country:CN2022-01-012022-12-310001163165country:CN2021-01-012021-12-310001163165country:CN2020-01-012020-12-310001163165country:CN2022-12-310001163165country:CN2021-12-310001163165country:CN2020-12-310001163165country:ID2022-01-012022-12-310001163165country:ID2021-01-012021-12-310001163165country:ID2020-01-012020-12-310001163165country:ID2022-12-310001163165country:ID2021-12-310001163165country:ID2020-12-310001163165country:LY2022-01-012022-12-310001163165country:LY2021-01-012021-12-310001163165country:LY2020-01-012020-12-310001163165country:LY2022-12-310001163165country:LY2021-12-310001163165country:LY2020-12-310001163165country:MY2022-01-012022-12-310001163165country:MY2021-01-012021-12-310001163165country:MY2020-01-012020-12-310001163165country:MY2022-12-310001163165country:MY2021-12-310001163165country:MY2020-12-310001163165country:NO2022-01-012022-12-310001163165country:NO2021-01-012021-12-310001163165country:NO2020-01-012020-12-310001163165country:NO2022-12-310001163165country:NO2021-12-310001163165country:NO2020-12-310001163165country:GB2022-01-012022-12-310001163165country:GB2021-01-012021-12-310001163165country:GB2020-01-012020-12-310001163165country:GB2022-12-310001163165country:GB2021-12-310001163165country:GB2020-12-310001163165us-gaap:NonUsMember2022-01-012022-12-310001163165us-gaap:NonUsMember2021-01-012021-12-310001163165us-gaap:NonUsMember2020-01-012020-12-310001163165us-gaap:NonUsMember2022-12-310001163165us-gaap:NonUsMember2021-12-310001163165us-gaap:NonUsMember2020-12-31

2022
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 10-K
(Mark One)
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2022
OR
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from _______________ to _______________
Commission file number: 001-32395
cop-20221231_g1.jpg
ConocoPhillips
(Exact name of registrant as specified in its charter)
Delaware
01-0562944
(State or other jurisdiction of incorporation or organization)(I.R.S. Employer identification No.)
925 N. Eldridge Parkway, Houston, TX 77079
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 281-293-1000
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading symbolsName of each exchange on which registered
Common Stock, $.01 Par Value
COP
New York Stock Exchange
7% Debentures due 2029
CUSIP—718507BK1
New York Stock Exchange
Securities registered pursuant to Section 12(g) of the Act: None
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. ☒ Yes ☐ No
Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. ☐ Yes ☒ No
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. ☒ Yes ☐ No
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). ☒ Yes ☐ No
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large Accelerated Filer
Accelerated filerNon-accelerated filerSmaller reporting companyEmerging 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. ☐
Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). ☐ Yes ☒ No
The aggregate market value of common stock held by non-affiliates of the registrant on June 30, 2022, the last business day of the registrant’s most recently completed second fiscal quarter, based on the closing price on that date of $89.81, was $114.2 billion.
The registrant had 1,218,776,494 shares of common stock outstanding at January 31, 2023.
Documents incorporated by reference:
Portions of the Proxy Statement for the Annual Meeting of Stockholders to be held on May 16, 2023 (Part III)


Table of Contents

Page
Commonly Used Abbreviations
Item


Commonly Used Abbreviations
Commonly Used Abbreviations
The following industry-specific, accounting and other terms and abbreviations may be commonly used in this report.
CurrenciesAccounting
$ or USDU.S. dollarAROasset retirement obligation
CADCanadian dollarASCaccounting standards codification
EUREuroASUaccounting standards update
GBPBritish poundDD&Adepreciation, depletion and
amortization
Units of MeasurementFASBFinancial Accounting Standards
BBLbarrelBoard
BCFbillion cubic feetFIFOfirst-in, first-out
BOEbarrels of oil equivalentG&Ageneral and administrative
MBDthousands of barrels per dayGAAPgenerally accepted accounting
MCFthousand cubic feetprinciples
MBODthousand barrels of oil per dayLIFOlast-in, first-out
MMmillionNPNSnormal purchase normal sale
MMBOEmillion barrels of oil equivalentPP&Eproperties, plants and equipment
MMBODmillion barrels of oil per dayVIEvariable interest entity
MBOEDthousands of barrels of oil
equivalent per day
MMBOEDmillions of barrels of oilMiscellaneous
equivalent per dayDEIdiversity, equity and inclusion
MMBTUmillion British thermal unitsEPAEnvironmental Protection Agency
MMCFDmillion cubic feet per dayESGenvironmental, social and governance
EUEuropean Union
IndustryFERCFederal Energy Regulatory
BLMBureau of Land ManagementCommission
CBMcoalbed methaneGHGgreenhouse gas
E&Pexploration and productionHSEhealth, safety and environment
CCScarbon capture and storageICCInternational Chamber of Commerce
FEEDfront-end engineering and designICSIDWorld Bank’s International
FPSfloating production systemCentre for Settlement of
FPSOfloating production, storage andInvestment Disputes
offloadingIRSInternal Revenue Service
G&Ggeological and geophysicalOTCover-the-counter
JOAjoint operating agreementNYSENew York Stock Exchange
LNGliquefied natural gasSECU.S. Securities and Exchange
NGLsnatural gas liquidsCommission
OPECOrganization of PetroleumTSRtotal shareholder return
Exporting CountriesU.K.United Kingdom
PSCproduction sharing contractU.S.United States of America
PUDsproved undeveloped reservesVROCvariable return of cash
SAGDsteam-assisted gravity drainage
WCSWestern Canadian Select
WTIWest Texas Intermediate
1
ConocoPhillips 2022 10-K

Business and Properties
Part I
Unless otherwise indicated, “the company,” “we,” “our,” “us” and “ConocoPhillips” are used in this report to refer to the businesses of ConocoPhillips and its consolidated subsidiaries. Items 1 and 2—Business and Properties, contain forward-looking statements including, without limitation, statements relating to our plans, strategies, objectives, expectations and intentions that are made pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. The words “anticipate,” “believe,” “budget,” “continue,” “could,” “effort,” “estimate,” “expect,” “forecast,” “goal,” “guidance,” “intend,” “may,” “objective,” “outlook,” “plan,” “potential,” “predict,” “projection,” “seek,” “should,” “target,” “will,” “would,” and similar expressions identify forward-looking statements. The company does not undertake to update, revise or correct any forward-looking information unless required to do so under the federal securities laws. Readers are cautioned that such forward-looking statements should be read in conjunction with the company’s disclosures under the headings “Risk Factors” beginning on page 20 and “CAUTIONARY STATEMENT FOR THE PURPOSES OF THE ‘SAFE HARBOR’ PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995,” beginning on page 63.
Items 1 and 2. Business and Properties
Corporate Structure
ConocoPhillips is an independent E&P company headquartered in Houston, Texas with operations and activities in 13 countries. Our diverse, low cost of supply portfolio includes resource-rich unconventional plays in North America; conventional assets in North America, Europe, Africa and Asia; LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects. On December 31, 2022, we employed approximately 9,500 people worldwide and had total assets of about $94 billion. Total company production for the year was 1,738 MBOED.
ConocoPhillips was incorporated in the state of Delaware in 2001, in connection with, and in anticipation of, the merger between Conoco Inc. and Phillips Petroleum Company. The merger between Conoco and Phillips was consummated on August 30, 2002. In April 2012, ConocoPhillips completed the separation of the downstream business into an independent, publicly traded energy company, Phillips 66.
Segment and Geographic Information
cop-20221231_g2.jpg
We manage our operations through six operating segments, defined by geographic region: Alaska; Lower 48; Canada; Europe, Middle East and North Africa; Asia Pacific; and Other International. For operating segment and geographic information, see Note 24.
ConocoPhillips   2022 10-K
2

Business and Properties
We explore for, produce, transport and market crude oil, bitumen, natural gas, LNG and NGLs on a worldwide basis. At December 31, 2022, our operations were producing in the U.S., Norway, Canada, Australia, Malaysia, Libya, China and Qatar.
The information listed below appears in the “Supplementary Data - Oil and Gas Operations” disclosures following the Notes to Consolidated Financial Statements and is incorporated herein by reference:
Proved worldwide crude oil, NGLs, natural gas and bitumen reserves.
Net production of crude oil, NGLs, natural gas and bitumen.
Average sales prices of crude oil, NGLs, natural gas and bitumen.
Average production costs per BOE.
Net wells completed, wells in progress and productive wells.
Developed and undeveloped acreage.
The following table is a summary of the proved reserves information included in the “Supplementary Data - Oil and Gas Operations” disclosures following the Notes to Consolidated Financial Statements. Approximately 84 percent of our proved reserves are in countries that belong to the Organization for Economic Cooperation and Development. Natural gas reserves are converted to BOE based on a 6:1 ratio: six MCF of natural gas converts to one BOE. See Management’s Discussion and Analysis of Financial Condition and Results of Operations for a discussion of factors that will enhance the understanding of the following summary reserves table.
Millions of Barrels of Oil Equivalent 
Net Proved Reserves at December 31
2022
2021
2020
Crude oil
Consolidated operations2,975 2,964 2,051 
Equity affiliates93 63 68 
Total Crude Oil3,068 3,027 2,119 
Natural gas liquids
Consolidated operations845 644 340 
Equity affiliates50 33 36 
Total Natural Gas Liquids895 677 376 
Natural gas
Consolidated operations1,461 1,523 1,011 
Equity affiliates959 617 621 
Total Natural Gas2,420 2,140 1,632 
Bitumen
Consolidated operations216 257 332 
Total Bitumen216 257 332 
Total consolidated operations5,497 5,388 3,734 
Total equity affiliates1,102 713 725 
Total company6,599 6,101 4,459 
3
ConocoPhillips   2022 10-K

Business and Properties
Alaska

cop-20221231_g3.jpg

The Alaska segment primarily explores for, produces, transports and markets crude oil, natural gas and NGLs. We are the largest crude oil producer in Alaska and have major ownership interests in two of North America’s largest oil fields located on Alaska’s North Slope: Prudhoe Bay and Kuparuk. We operate Kuparuk in addition to several fields on the Western North Slope, in which we have 100 percent interest. Additionally, we are one of Alaska’s largest owners of state, federal and fee exploration leases, with approximately 1.2 million net undeveloped acres at year-end 2022. Alaska operations contributed 16 percent of our consolidated liquids production and two percent of our consolidated natural gas production.
2022
InterestOperatorCrude Oil
MBD
NGL
MBD
Natural Gas
MMCFD
Total
MBOED
Average Daily Net Production
Greater Prudhoe Area36.1 %Hilcorp67 17 32 90 
Greater Kuparuk Area89.2-94.7ConocoPhillips66 — 66 
Western North Slope100.0ConocoPhillips44 — 44 
Total Alaska177 17 34 200 
Greater Prudhoe Area
The Greater Prudhoe Area includes the Prudhoe Bay Unit, which consists of the Prudhoe Bay Field and five satellite fields, as well as the Greater Point McIntyre Area fields. Prudhoe Bay, the largest conventional oil field in North America, is the site of a large waterflood and enhanced oil recovery operation, supported by a large gas and water processing operation. Prudhoe Bay’s western satellite fields are Aurora, Borealis, Polaris, Midnight Sun and Orion, while the Point McIntyre, Niakuk, Raven, Lisburne and North Prudhoe Bay State fields are part of the Greater Point McIntyre Area. Field installations include seven production facilities, two gas plants, two seawater plants and a central power station. Activity in 2022 consisted of rotary and coil tubing drilling throughout the year.
Greater Kuparuk Area
We operate the Greater Kuparuk Area, which includes the Kuparuk River Unit, consisting of the Kuparuk Field and four satellite fields: Tarn, Tabasco, Meltwater and West Sak. Kuparuk is located 40 miles west of the Prudhoe Bay Field. Field installations include three central production facilities which separate oil, natural gas and water as well as a seawater treatment plant. Development drilling at Kuparuk consists of rotary-drilled wells and horizontal multi-laterals from existing wellbores utilizing coiled-tubing drilling.
ConocoPhillips   2022 10-K
4

Business and Properties
Western North Slope
On the Western North Slope, we operate the Colville River Unit and the Greater Mooses Tooth Unit.

The Colville River Unit includes the Alpine Field and three satellite fields: Nanuq, Fiord and Qannik, which are located approximately 34 miles west of the Kuparuk Field. Field installations include one central production facility which separates oil, natural gas and water. In May 2022, Fiord West Kuparuk achieved first production.
The Greater Mooses Tooth Unit is the first unit established entirely within the National Petroleum Reserve Alaska (NPR-A). In 2017, we began construction in the unit with two phases: Greater Mooses Tooth #1 (GMT1) and Greater Mooses Tooth #2 (GMT2). GMT1 achieved first oil in 2018 and completed drilling in 2019. First oil for GMT2 was achieved in late 2021.

2022 activity on the Western North Slope consisted of rotary and extended reach drilling throughout the year.
Exploration
Appraisal activities of the Willow Discovery in the Bear Tooth Unit in the NPR-A concluded in 2020. A Final Supplemental Environmental Impact Statement was released on February 1, 2023 and published in the Federal Register on February 3, 2023, with a record of decision to follow no sooner than 30 days afterwards.
We continued evaluating the Narwhal trend throughout 2022, purchasing additional seismic data and drilling a second injector well to allow a fully supported production test. We are planning future Narwhal development from the existing Alpine CD4 infrastructure to help inform the design and optimization of the future CD8 pad.
We plan to drill the Bear-1 exploration well at a location 30 miles south of the Kuparuk River Unit and east of the Colville River on state lands in early 2023. The well will test the Brookian topset play.
In late 2021, the Coyote Brookian topset exploration prospect in the Kuparuk River Unit was tested with a near vertical sidetrack from an existing wellbore. The well was fracture stimulated and tested in early 2022. We are planning further appraisal drilling in 2023.
Transportation
We transport the petroleum liquids produced on the North Slope to Valdez, Alaska through an 800-mile pipeline that is part of Trans-Alaska Pipeline System (TAPS). We have a 29.5 percent ownership interest in TAPS, and we also have ownership interests in and operate the Alpine, Kuparuk and Oliktok pipelines on the North Slope.
Our wholly owned subsidiary, Polar Tankers, Inc., manages the marine transportation of our North Slope production, using five company-owned, double-hulled tankers, and charters third-party vessels, as necessary. The tankers deliver oil from Valdez, Alaska, primarily to refineries on the west coast of the U.S.
5
ConocoPhillips   2022 10-K

Business and Properties
Lower 48
cop-20221231_g4.jpg

The Lower 48 segment consists of operations located in the 48 contiguous U.S. states and the Gulf of Mexico, with a portfolio mainly consisting of low cost of supply, short cycle time, resource-rich unconventional plays and commercial operations. Based on 2022 production volumes, the Lower 48 is the company’s largest segment and contributed 64 percent of our consolidated liquids production and 72 percent of our consolidated natural gas production.
2022
Crude Oil
MBD
NGL
MBD
Natural Gas
MMCFD
Total
MBOED
Average Daily Net Production
Delaware Basin258 114 752 498 
Eagle Ford117 58 271 220 
Midland Basin91 31 196 155 
Bakken59 15 127 95 
Other*56 21 
Total Lower 48534 221 1,402 989 
*Other also includes select noncore assets that were divested in 2022.
At December 31, 2022, we held 10.3 million net acres of onshore unconventional and conventional acreage in the Lower 48, the majority of which is either held by production or owned by the company. Our significant unconventional holdings are in the following areas:
659,000 net acres in the Delaware Basin, located in West Texas and southeastern New Mexico.
199,000 net acres in the Eagle Ford, located in South Texas.
251,000 net acres in the Midland Basin, located in West Texas.
560,000 net acres in the Bakken, located in North Dakota and eastern Montana.
The majority of our 2022 production activities were centered on continued development of onshore assets, with an emphasis on areas with low cost of supply, particularly in growing unconventional plays. Our major focus in 2022 included the following areas:
Delaware Basin—We operated ten rigs and three frac crews on average during 2022, resulting in 186 operated wells drilled and 153 operated wells brought online. We also participated in partner operated wells. Production increased in 2022 compared with 2021 primarily related to our Shell Permian acquisition, averaging 498 MBOED and 286 MBOED, respectively.
Eagle Ford—We operated six rigs and three frac crews on average during 2022, resulting in 125 operated wells drilled and 153 operated wells brought online. Production increased in 2022 compared with 2021, averaging 220 MBOED and 211 MBOED, respectively.
Midland Basin—We operated five rigs and two frac crews on average during 2022, resulting in 99 operated wells drilled and 111 operated wells brought online. Production increased in 2022 compared with 2021, averaging 155 MBOED and 136 MBOED, respectively.
Bakken—We operated two rigs and one frac crew on average during 2022, resulting in 33 operated wells drilled and 43 operated wells brought online. We also participated in partner operated wells. Production increased in 2022 compared with 2021, averaging 95 MBOED and 94 MBOED, respectively.
Acquisitions and Dispositions
Throughout 2022, we completed sales of certain noncore assets, executed multiple acreage swaps and completed an acquisition that cored up acreage in Eagle Ford. See Note 3.
Facilities
We operate and own, with varying interests, centralized condensate processing facilities in Texas and New Mexico in support of our Eagle Ford, Delaware and Midland assets.
ConocoPhillips   2022 10-K
6

Business and Properties
Canada
cop-20221231_g5.jpg



Our Canadian operations consist of the Surmont oil sands development in Alberta and the liquids-rich Montney unconventional play in British Columbia and commercial operations. In 2022, operations in Canada contributed six percent of our consolidated liquids production and three percent of our consolidated natural gas production.
2022
InterestOperatorCrude Oil
MBD
NGL
MBD
Natural Gas
MMCFD
Bitumen
MBD
Total
MBOED
Average Daily Net Production
Surmont50.0 %ConocoPhillips— — — 66 66 
Montney100.0ConocoPhillips61 — 19 
Total Canada61 66 85 
Surmont
Our bitumen resources in Canada are produced via an enhanced thermal oil recovery method called SAGD, whereby steam is injected into the reservoir, effectively liquefying the heavy bitumen, which is recovered and pumped to the surface for further processing. Operations include two central processing facilities for treatment and blending of bitumen. At December 31, 2022, we held approximately 600,000 net acres of land in the Athabasca Region of northeastern Alberta.
The Surmont oil sands leases are located approximately 35 miles south of Fort McMurray, Alberta. Surmont is a 50/50 joint venture with Total Energies SE that offers long-lived, sustained production. We are focused on keeping facilities full, structurally lowering costs, reducing GHG intensity and optimizing asset performance.
In 2022, we began construction on the asset's next pad (Pad 267), which included the drilling of 24 well pairs. First production on Pad 267 is expected in early 2024.

In 2021, we began processing a portion of Surmont’s blended bitumen at the Diluent Recovery Unit constructed in Alberta, unlocking additional value for the asset by providing additional market access to our heavy crude oil. In 2019, Surmont implemented the use of condensate for bitumen blending through the central processing facility 2; enabling the asset to lower blend ratio and diluent supply costs, gain protection from synthetic crude oil supply disruptions and gain optionality on sales products. The alternative blend project was completed in 2021 at central processing facility 1. Full Surmont Heavy Dilbit (condensate bitumen blend) was first produced across both facilities in the fourth quarter of 2021.
Montney
The Montney is an unconventional resource play located in northeastern British Columbia. At December 31, 2022, we held approximately 300,000 acres of land with 100 percent working interest in the liquids-rich section of the Montney.
In 2022, development activity consisted of drilling 17 horizontal wells and bringing 12 wells online. In addition, we are progressing development of additional pads along with construction on the second phase of our processing facility with start-up scheduled for the third quarter of 2023.
Exploration
Our primary exploration focus is assessing our Montney acreage. In 2023, appraisal drilling and completions activity within the Montney will continue to explore the area’s resource potential.
7
ConocoPhillips   2022 10-K

Business and Properties
Europe, Middle East and North Africa
cop-20221231_g6.jpg




The Europe, Middle East and North Africa segment consists of operations principally located in the Norwegian sector of the North Sea; the Norwegian Sea; Qatar; Libya; and commercial and terminalling operations in the U.K. In 2022, operations in Europe, Middle East and North Africa contributed nine percent of our consolidated liquids production and 17 percent of our consolidated natural gas production.
Norway 
2022
InterestOperatorCrude Oil
MBD
NGL
MBD
Natural Gas
MMCFD
Total
MBOED
Average Daily Net Production
Greater Ekofisk Area30.7-35.1%ConocoPhillips43 37 51 
Heidrun24.0 Equinor11 — 42 19 
Aasta Hansteen10.0 Equinor— — 84 14 
Troll1.6 Equinor— 62 12 
Visund9.1 Equinor50 11 
Alvheim20.0 Aker BP— 14 10 
OtherVariousEquinor— 17 
Total Norway71 306 125 
The Greater Ekofisk Area is located approximately 200 miles offshore Stavanger, Norway, in the North Sea, and comprises four producing fields: Ekofisk, Eldfisk, Embla and Tor. Crude oil is exported to our operated terminal located at Teesside, England, and the natural gas is exported to Emden, Germany. The Ekofisk and Eldfisk fields consist of several production platforms and facilities, with development drilling continuing over the coming years. Currently there are two development projects, Tommeliten A and Eldfisk North within the Greater Ekofisk Area. These subsea developments will be tied back to Ekofisk and Eldfisk respectively, with first production expected in 2024. Additionally in 2022, we received a 20-year extension on our production licenses in the Greater Ekofisk Area until 2048.
The Heidrun Field is located in the Norwegian Sea. Produced crude oil is stored in a floating storage unit and exported via shuttle tankers. Most of the gas is transported to Europe via gas processing terminals in Norway with some reinjected for pressure support if required. A portion of the gas is also transported for use as feedstock in a methanol plant in Norway, in which we have an 18 percent interest.
Aasta Hansteen is a gas and condensate field located in the Norwegian Sea. Produced condensate is loaded onto shuttle tankers and transported to market. Gas is transported through the Polarled gas pipeline to the onshore Nyhamna processing plant for final processing prior to export to market.
The Troll Field lies in the northern part of the North Sea and consists of the Troll A, B and C platforms. The natural gas from Troll A is transported to Kollsnes, Norway. Crude oil from floating platforms Troll B and Troll C is transported to Mongstad, Norway, for storage and export.
ConocoPhillips   2022 10-K
8

Business and Properties
Visund is an oil and gas field located in the North Sea and consists of a floating drilling, production and processing unit, and subsea installations. Crude oil is transported by pipeline to a nearby third-party field for storage and export via tankers. The natural gas is transported to a gas processing plant at Kollsnes, Norway, through the Gassled transportation system.

The Alvheim Field is located in the northern part of the North Sea near the border with the U.K. sector, and consists of a FPSO vessel and subsea installations. Produced crude oil is exported via shuttle tankers, and natural gas is transported to the Scottish Area Gas Evacuation (SAGE) Terminal at St. Fergus, Scotland, through the SAGE Pipeline. The Kobra East Gekko (KEG) project, a new subsea tieback to the Alvheim FPSO, is currently being developed, with first production expected in 2024.
We also have varying ownership interests in two other producing fields in the Norway sector of the North Sea.
Exploration
In 2022, we executed a four-well exploration and appraisal campaign which included the Slagugle appraisal well and exploration of the Peder, Bounty and Lamba prospects. Additionally in 2022, we participated in the Othello partner operated exploration well. None of the exploration wells resulted in commercial discovery of hydrocarbons, and all were permanently plugged and abandoned. Slagugle is a discovery that we are continuing to evaluate. In 2022, we were awarded three new exploration licenses, PL1146, PL1163, and PL1166, and executed a trade to enter license PL1099.
Transportation
We have a 35.1 percent interest in the Norpipe Oil Pipeline System, a 220-mile pipeline which carries crude oil from Ekofisk to a crude oil stabilization and NGLs processing facility in Teesside, England.
Facilities
We operate and have a 40.25 percent ownership interest in a crude oil stabilization and NGLs processing facility at Teesside, England to support our Norway operations.

9
ConocoPhillips   2022 10-K

Business and Properties
Qatar
2022
InterestOperatorCrude Oil
MBD
NGL
MBD
Natural Gas
MMCFD
Total
MBOED
Average Daily Net Production
QG330.0 %Qatargas Operating Company Limited13 374 83 
QG3 is an integrated development jointly owned by QatarEnergy (68.5 percent), ConocoPhillips (30 percent) and Mitsui & Co., Ltd. (1.5 percent). QG3 consists of upstream natural gas production facilities, which produce approximately 1.4 billion gross cubic feet per day of natural gas from Qatar’s North Field over a 25-year life, in addition to a 7.8 million gross tonnes per year LNG facility. LNG is shipped in leased LNG carriers destined for sale globally.
QG3 executed the development of the onshore and offshore assets as a single integrated development with Qatargas 4 (QG4), a joint venture between QatarEnergy and Shell plc. This included the joint development of offshore facilities situated in a common offshore block in the North Field, as well as the construction of two identical LNG process trains and associated gas treating facilities for both the QG3 and QG4 joint ventures. Production from the LNG trains and associated facilities is combined and shared.
During 2022 we were awarded a 25 percent interest in each of two new joint ventures with QatarEnergy that will participate in the North Field East (NFE) and North Field South (NFS) LNG projects. Formation of the NFE joint venture (QG8) closed in December 2022 and we anticipate that the formation of the NFS joint venture (QG12) will close in early 2023. See Note 3 and Note 4.
Libya
2022
InterestOperatorCrude Oil
MBD
NGL
MBD
Natural Gas
MMCFD
Total
MBOED
Average Daily Net Production
Waha Concession20.4 %Waha Oil Co.36 — 22 40 
The Waha Concession consists of multiple concessions for exploration and production activity and encompasses nearly 13 million gross acres onshore in the Sirte Basin. In 2022, we had 26 crude liftings from Es Sider terminal.

In November 2022, ConocoPhillips and TotalEnergies completed the joint acquisition of Hess Libya Waha Ltd., which increased our interest in the Waha Concession by 4.1 percent to 20.4 percent.
ConocoPhillips   2022 10-K
10

Business and Properties
Asia Pacific
cop-20221231_g7.jpg




The Asia Pacific segment has exploration and production operations in China, Malaysia, Australia and commercial operations in China, Singapore and Japan. In 2022, operations in the Asia Pacific segment contributed five percent of our consolidated liquids production and six percent of our consolidated natural gas production.
Australia
2022
InterestOperatorCrude Oil
MBD
NGL
MBD
Natural Gas
MMCFD
Total
MBOED
Average Daily Net Production
Australia Pacific LNG47.5 %ConocoPhillips/Origin Energy— — 817 136 
Australia Pacific LNG Pty Ltd. (APLNG), our joint venture with Origin Energy Limited and China Petrochemical Corporation (Sinopec), is focused on producing CBM from the Bowen and Surat basins in Queensland, Australia, to supply the domestic gas market and convert the CBM into LNG for export. Origin operates APLNG’s upstream production and pipeline system, and we operate the downstream LNG facility, located on Curtis Island near Gladstone, Queensland, as well as the LNG export sales business.
We operate two fully subscribed 4.5 million metric tonnes per year LNG trains. Approximately 3,500 net wells are ultimately expected to supply both the LNG sales contracts and domestic gas market. The wells are supported by gathering systems, central gas processing and compression stations, water treatment facilities and an export pipeline connecting the gas fields to the LNG facilities. The LNG is being sold to Sinopec under 20-year sales agreements for 7.6 million metric tonnes of LNG per year, and Japan-based Kansai Electric Power Co., Inc. under a 20-year sales agreement for approximately 1 million metric tonnes of LNG per year.
In February 2022, we completed the acquisition of an additional 10 percent interest in APLNG from Origin Energy, increasing our ownership to 47.5 percent, with Origin and Sinopec retaining 27.5 percent and 25 percent interests, respectively.
For additional information, see Note 4 and Note 10.
Exploration
In 2019, we entered into an agreement with 3D Oil to acquire a 75 percent interest in and operatorship of an offshore Exploration Permit (T/49P) located in the Otway Basin, Australia. We obtained an additional five percent interest, increasing our interest to 80 percent, in June 2020. A 3D seismic survey acquisition was completed in October 2021, and this data is being evaluated for future exploration drilling opportunities.
In October 2022, we entered into a Joint Operating Agreement with 3D Oil for an 80 percent interest in Exploration Permit (VIC/P79) in the Otway Basin, Australia. The transaction is pending final regulatory approvals which are expected in the first half of 2023. Existing seismic data is currently being reprocessed and will be evaluated for future exploration drilling opportunities.
11
ConocoPhillips   2022 10-K

Business and Properties
Indonesia
2022
InterestOperatorCrude Oil
MBD
NGL
MBD
Natural Gas
MMCFD
Total
MBOED
Average Daily Net Production
South Sumatra54.0 %ConocoPhillips— — 48 
In March 2022, we completed the sale of our subsidiary that indirectly held the company’s 54 percent interest in the Indonesia Corridor Block PSC and a 35 percent shareholding interest in the Transasia Pipeline Company. See Note 3.
China
2022
InterestOperatorCrude Oil
MBD
NGL
MBD
Natural Gas
MMCFD
Total
MBOED
Average Daily Net Production
Penglai49.0 %CNOOC30 — — 30 
Penglai
In 2022, Chinese National Offshore Oil Corporation (CNOOC) and ConocoPhillips approved adjustments to our Bohai PSC production licenses, aligning all three Penglai Field licenses to expire in 2039.

The Penglai 19-3, 19-9 and 25-6 fields are located in the Bohai Bay Block 11/05 and are being developed in stages.

Phase 3 consists of three new wellhead platforms and a central processing platform. First production from Phase 3 was achieved in 2018. This project could include up to 186 wells, 157 of which have been completed and brought online as of December 2022.
Phase 4A consists of one new wellhead platform and achieved first production in 2020. This project could include up to 62 new wells, 33 of which have been completed and brought online as of December 2022.
Phase 4B is currently under construction and consists of two new wellhead platforms. This project could include up to 160 new wells.
Malaysia
2022
InterestOperatorCrude Oil
MBD
NGL
MBD
Natural Gas
MMCFD
Total
MBOED
Average Daily Net Production
Gumusut29.5 %Shell14 — — 14 
Malikai35.0 Shell13 — — 13 
Kebabangan (KBB)30.0 KPOC— 65 12 
Siakap North-Petai21.0 PTTEP— 
Total Malaysia31 — 66 42 
We have varying stages of exploration, development and production activities across approximately 2.7 million net acres in Malaysia, with working interests in six PSCs. Four of these PSCs are located in waters off the eastern Malaysian state of Sabah: Block G, Block J, the Kebabangan Cluster (KBBC), which we do not operate, and Block SB405, an operated exploration block acquired in 2021. We also operate another two exploration blocks, Block WL4-00 and Block SK304, in waters off the eastern Malaysian state of Sarawak.




ConocoPhillips   2022 10-K
12

Business and Properties
Block J
Gumusut
We currently have a 29.5 percent working interest in the unitized Gumusut Field. Gumusut Phase 3 first oil was achieved in 2022. Development drilling associated with Gumusut Phase 4, a four-well program targeting the Brunei acreage of the unitized Gumusut Field that straddles Malaysia and Brunei waters, is planned to commence in early 2024 with first oil anticipated in late 2024.
KBBC
The KBBC PSC grants us a 30 percent working interest in the KBB, Kamunsu East and Kamunsu East Upthrown Canyon gas and condensate fields.
KBB
During 2019, KBB tied-in to a nearby third-party floating LNG vessel which provided increased gas offtake capacity. Production from the field has been reduced since January 2020, due to the rupture of a third-party pipeline which carries gas production from KBB to one of its markets. The third-party operator continues to progress the pipeline repair.
Block G
Malikai
We hold a 35 percent working interest in Malikai. Malikai Phase 2 development first oil was achieved in February 2021.
Siakap North-Petai
We hold a 21 percent working interest in the unitized Siakap North-Petai (SNP) oil field. First oil from SNP Phase 2 was achieved in November 2021.
Exploration
In 2017, we were awarded operatorship and a 50 percent working interest in Block WL4-00, which included the existing Salam-1 oil discovery and encompassed 0.6 million gross acres. In 2018 and 2019, we drilled exploration and appraisal wells, resulting in oil discoveries under evaluation at Salam and Benum Fields. In 2022, we drilled two additional appraisal wells and one exploration well to evaluate the oil discoveries. The Gagau-1 exploration well made a sub-commercial gas discovery and was expensed as a dry hole. The information from the well results will help optimize future development plans.
In 2018, we were awarded a 50 percent working interest and operatorship of Block SK304 encompassing 2.1 million gross acres off the coast of Sarawak, offshore Malaysia. We acquired 3D seismic over the acreage and completed processing of this data in 2019. The Mersing-1 exploration well was drilled in 2022, did not encounter any significant hydrocarbons and was expensed as a dry hole. SK304 is a block that we are continuing to evaluate.
In 2021, we were awarded operatorship and an 85 percent working interest in Block SB405 encompassing 1.4 million gross acres off the coast of Sabah, offshore Malaysia. A 3D seismic survey was acquired in 2022, and processing and evaluation of this data will be ongoing through 2023.
Other International
The Other International segment includes interests in Colombia as well as contingencies associated with prior operations in other countries.
Colombia
We have an 80 percent operated interest in the Middle Magdalena Basin Block VMM-3 extending over approximately 67,000 net acres. In addition, we have an 80 percent working interest in the VMM-2 Block which extends over approximately 58,000 net acres and is contiguous to the VMM-3 Block. The blocks are currently in Force Majeure due to the lack of a defined Environmental Licensing process.
Venezuela
For discussion of our contingencies in Venezuela, see Note 11.
13
ConocoPhillips   2022 10-K

Business and Properties
Other
Marketing Activities
Our Commercial organization manages our worldwide commodity portfolio, which mainly includes natural gas, crude oil, bitumen, NGLs and LNG. Marketing activities are performed through offices in the U.S., Canada, Europe and Asia. In marketing our production, we attempt to minimize flow disruptions, maximize realized prices and manage credit-risk exposure. Commodity sales are generally made at prevailing market prices at the time of sale. We also purchase and sell third-party commodity volumes to better position the company to satisfy customer demand while fully utilizing transportation and storage capacity.
Natural Gas
Our natural gas production, along with third-party purchased gas, is primarily marketed in the U.S., Canada and Europe. Our natural gas is sold to a diverse client portfolio which includes local distribution companies; gas and power utilities; large industrials; independent, integrated or state-owned oil and gas companies; as well as marketing companies. To reduce our market exposure and credit risk, we also transport natural gas via firm and interruptible transportation agreements to major market hubs.
Crude Oil, Bitumen and Natural Gas Liquids
Our crude oil, bitumen and NGL revenues are derived from production in the U.S., Canada, Asia, Africa and Europe. These commodities are primarily sold under contracts with prices based on market indices, adjusted for location, quality and transportation.
LNG
LNG marketing efforts are focused on equity LNG production facilities located in Australia and Qatar. LNG is primarily sold under long-term contracts with prices based on market indices. In 2022, we entered into several agreements with Sempra entities in connection with the Port Arthur LNG (PALNG) facility, including a 20-year sale and purchase agreement for 5 million tonnes per annum (MTPA) of LNG offtake at the start-up of Phase 1 of the PALNG facility. In addition, we will acquire 30 percent of the equity in Phase 1 of PALNG. Development of PALNG is subject to completing required commercial agreements and resolving a number of risks and uncertainties, obtaining financing and reaching a final investment decision, among other factors. In addition, we secured regasification capacity at the German LNG terminal in Brunsbuttel that will provide access to the German natural gas market.
Energy Partnerships
Marine Well Containment Company (MWCC)
We are a founding member of the MWCC, a non-profit organization formed in 2010, which provides well containment equipment and technology in the deepwater U.S. Gulf of Mexico. MWCC’s containment system meets the U.S. Bureau of Safety and Environmental Enforcement requirements for a subsea well containment system that can respond to a deepwater well control incident in the U.S. Gulf of Mexico.
Oil Spill Response Limited (OSRL) - Subsea Well Intervention Service (SWIS)
OSRL-SWIS is a non-profit organization in the U.K. that is an industry funded joint initiative providing the capability to respond to subsea well-control incidents. Through our SWIS subscription, ConocoPhillips has access to equipment that is maintained and stored in a response ready state. This provides well capping and containment capability outside the U.S.
Oil Spill Response Removal Organizations (OSROs)
We maintain memberships in several OSROs across the globe as a key element of our preparedness program in addition to internal response resources. Many of the OSROs are not-for-profit cooperatives owned by the member companies wherein we may actively participate as a member of the board of directors, steering committee, work group or other supporting role. In North America, our primary OSROs include the Marine Spill Response Corporation for the continental U.S. and Alaska Clean Seas and Ship Escort/Response Vessel System for the Alaska North Slope and Prince William Sound, respectively. Internationally, we maintain memberships in various OSROs including Oil Spill Response Limited, the Norwegian Clean Seas Association for Operating Companies, Australian Marine Oil Spill Center and Petroleum Industry of Malaysia Mutual Aid Group.
ConocoPhillips   2022 10-K
14

Business and Properties
Technology
We have several technology programs that improve our ability to develop unconventional reservoirs, increase recoveries from our legacy fields, improve the efficiency of our exploration program, produce heavy oil economically with lower emissions and implement sustainability measures.

LNG Liquefaction
We are the second-largest LNG liquefaction technology provider globally. Our Optimized Cascade® LNG liquefaction technology has been licensed for use in 28 LNG trains around the world, with feasibility studies ongoing for additional trains.

Low-Carbon Technologies
In 2021, we established a multi-disciplinary Low-Carbon Technologies organization, with the remit to support our net-zero ambition, understand the alternative energy landscape and prioritize opportunities for future competitive investment.
Throughout 2022, we continued our focus on implementing emissions reduction projects across our global portfolio, including production efficiency measures and methane and flaring reductions. In September 2021, we strengthened our 2030 GHG emissions intensity reduction target to 40-50 percent from a 2016 baseline and expanded the target to apply on both a gross operated and net equity basis. To help achieve this goal, the Low-Carbon Technologies organization worked with the company's business units to begin developing and implementing region-specific net-zero scenarios identifying potential technology solutions for hard-to-abate emissions, and piloting new methods to reduce and accelerate Scope 1 and Scope 2 emissions reduction. Potential projects evaluated included CCS and electrification studies, zero/low emission equipment design enhancements, installations to continuously monitor and detect methane emissions, and operational changes to reduce flaring and methane venting volumes.

Within the low-carbon opportunities landscape, the company has prioritized opportunities in CCS and hydrogen. In 2022, we evaluated carbon dioxide storage sites along the U.S. Gulf Coast, progressed land acquisition efforts and business development work, initiated permitting activities for a potential appraisal well for carbon sequestration and advanced engineering studies for multiple opportunities. In Europe, we continued evaluation of a carbon capture solution to reduce emissions at the operated Teesside Oil Terminal with engineering studies and a due diligence phase with the United Kingdom's Department for Business, Energy and Industrial Strategy.
Delivery Commitments
We sell crude oil and natural gas from our producing operations under a variety of contractual arrangements, some of which specify the delivery of a fixed and determinable quantity. Our commercial organization also enters into natural gas sales contracts where the source of the natural gas used to fulfill the contract can be the spot market or a combination of our reserves and the spot market. Worldwide, we are contractually committed to deliver approximately 578 billion cubic feet of natural gas, 345 million barrels of crude oil and 12.9 million megawatt hours of electricity in the future. These contracts have various expiration dates through the year 2030. We expect to fulfill these delivery commitments with third-party purchases, as supported by our gas management and power supply agreements; proved developed reserves; and PUDs. See the disclosure on “Proved Undeveloped Reserves” in the “Supplementary Data - Oil and Gas Operations” section following the Notes to Consolidated Financial Statements, for information on the development of PUDs.
Competition
ConocoPhillips is one of the world’s leading E&P companies based on both production and reserves, with a globally diversified asset portfolio. We compete with private, public and state-owned companies in all facets of the E&P business. Some of our competitors are larger and have greater resources. Each of our segments is highly competitive, with no single competitor, or small group of competitors, dominating.
We compete with numerous other companies in the industry, including state-owned companies, to locate and obtain new sources of supply and to produce oil, bitumen, NGLs and natural gas in an efficient, cost-effective manner. We deliver our production into the worldwide commodity markets. Principal methods of competing include geological, geophysical and engineering research and technology; experience and expertise; equipment and personnel; economic analysis in connection with portfolio management; and safely operating oil and gas producing properties.
15
ConocoPhillips   2022 10-K

Business and Properties
Human Capital Management
Values, Principles and Governance
At ConocoPhillips, our human capital management (HCM) approach starts with a foundation in our core SPIRIT Values – Safety, People, Integrity, Responsibility, Innovation, and Teamwork. These SPIRIT Values set the tone for how we interact with all of our internal and external stakeholders. We believe a safe organization is a successful organization, and therefore, we prioritize personal and process safety across the company. Our SPIRIT Values are a source of pride. Our day-to-day work is guided by the principles of accountability and performance, which means the way we do our work is as important as the results we deliver. We believe these core values and principles set us apart, align our workforce and provide a foundation for our culture.
Our Executive Leadership Team (ELT) and our Board of Directors play a key role in setting our HCM strategy and driving accountability for meaningful progress. The ELT and Board of Directors engage often on workforce-related topics. Our HCM programs are overseen and administered by our human resources function with support from business leaders across the company.
We depend on our workforce to successfully execute our company’s strategy and we recognize the importance of creating a workplace where our people feel valued. Our HCM programs are built around three pillars that we believe are necessary for success: a compelling culture, a world-class workforce and strong external engagement. Each of these pillars is described in more detail below.
A Compelling Culture
How we do our work is what sets us apart and drives our performance. We’re experts in what we do and continuously find ways to do our jobs better. We value diversity and create an inclusive culture of belonging. Together, we deliver strong performance, but not at all costs. We embrace our core cultural attributes that are shared by everyone, everywhere.
Health, Safety and Environment
Our HSE organization sets expectations and provides tools and assurance to our workforce to promote and achieve HSE excellence. We manage and assure ConocoPhillips HSE policies, standards and practices, to help ensure business activities are consistently safe, healthy and conducted in an environmentally and socially responsible manner across the globe. Each business unit manages its local operational risks with particular attention to process safety, occupational safety and environmental and emergency preparedness risk. Objectives, targets and deadlines are set and tracked annually to drive strong HSE performance. Progress is tracked and reported to our ELT and the Board of Directors. HSE audits are conducted on business units and staff groups to ensure conformance with ConocoPhillips HSE policies, standards and practices where improvement actions are identified and tracked to completion.
We continuously look for ways to operate more safely, efficiently and responsibly. We focus on reducing human error by emphasizing interaction among people, equipment and work processes. By being curious about how work is done, recognizing error-likely situations and applying safeguards, we can reduce the likelihood and severity of unexpected incidents. We conduct thorough investigations of all serious incidents to understand the root cause and share lessons learned globally to improve our procedures, training, maintenance programs and designs. As we integrate various assets through acquisitions, it is important that we drive this culture of continuous learning and improvement, refine our existing HSE processes and tools and enhance our commitment to safe, efficient and responsible operations.
COVID-19 Response
In 2022, the number of COVID-19 cases across the company was significantly less than the prior two years. With less risk to our operations, the Crisis Management Support Team that had been in place since the beginning of the pandemic, was disbanded in August; however, our Health Services organization continues to monitor the situation and support business units and functions as needed to minimize any potential for business interruption.
Diversity, Equity and Inclusion
At ConocoPhillips, we believe our unique differences power the future of energy. Our DEI vision is to foster an inclusive culture that values the rich mixture of backgrounds, identities and workstyles of our people, built on equitable practices that support all employees in unlocking their full potential. Our commitment to DEI is foundational to our SPIRIT Values and to achieving our business objectives. All employees play a part in creating and sustaining an inclusive work environment because everyone benefits from DEI.

ConocoPhillips   2022 10-K
16

Business and Properties
The ELT has ultimate accountability for advancing our DEI commitments through a governance structure that includes a Chief Diversity Officer (CDO), a dedicated DEI organization and a global DEI Council consisting of senior leaders from across the company. The company sets goals and measures progress based on a transparent DEI strategy with four pillars that guide our focus and approach: people, programs and processes, culture and our external brand and reputation. All company leaders are accountable for setting personal DEI goals and advancing DEI through local efforts. Our DEI efforts and progress are regularly reviewed with the Board of Directors.

In 2022, we welcomed our new CDO. Over the course of the year, the CDO established the DEI organization and embarked on a global listening tour to understand the impact of current efforts, areas for improvement and the overall employee experience. Based on the insights and perspectives from employees, the company’s DEI strategy was refreshed. Highlights from our 2022 DEI accomplishments include:
Reviewing the results of the 2022 Perspectives survey and continuing to integrate the insights into our DEI efforts;
Staffing the newly established DEI organization;
Launching our DEI Dashboards 2.0 internally, which feature expanded global and U.S. workforce metrics and industry benchmark data; and
Hosting our inaugural Black Leadership Symposium to support future leadership diversity in the company.
We continue to actively monitor diversity metrics on a global basis. We are committed to being transparent as we build a more diverse, equitable and inclusive workplace. Tables of 2022 employee demographics by gender and ethnicity, and by country, are shown below:
2022 Employees by Gender and Race/Ethnicity
GlobalU.S.
MaleFemaleWhitePOC*
All Employees73 %27 %70 %30 %
All Leadership74 26 77 23 
Top Leadership75 25 82 18 
Junior Leadership74 26 75 25 
*"POC" refers to People of Color or racial and ethnic minorities self-reported in the U.S.
2022 Employees by Country
Percent of Total
U.S.66 %
Norway17 
Canada
Australia
U.K.
China
Other Global Locations
100 %
A World-Class Workforce
Our HCM approach addresses programs and processes necessary for ensuring we have an engaged workforce with the skills to meet our business needs. We take a holistic view of HCM that addresses each of the critical components of workforce planning. These are described in more detail below.
17
ConocoPhillips   2022 10-K

Business and Properties
Recruitment
Our continued success requires a strong global workforce that can contribute the right skills, in the right places, to achieve our strategic objectives. We offer university internships across multiple disciplines to attract the best early-career talent. We partner with top diversity organizations and universities, including Hispanic-serving organizations and Historically Black Colleges and Universities. We also recruit extensively for external experienced hires to supplement our university and internal pipeline. These individuals bring critical skills and help us to maintain a broad range of expertise and experience. We have taken significant steps to embed inclusion into each step of our recruiting practices, including adapting the way we construct job descriptions to using intentionally diverse interview panels. We conduct routine talent assessments with leaders to ensure we have the organizational capacity and capabilities to execute our business plans.
We closely monitor recruitment metrics through our internal university and experienced hire dashboards and track voluntary turnover metrics to guide our retention activities.
2022 Hiring & Attrition Metrics
Percent of Total
U.S. University hire acceptance70 %
U.S. Interns acceptance68 
Diversity hiring - Women29 
Diversity hiring - U.S. POC41 
Total voluntary attrition
Employee Engagement and Development
We focus on the engagement and development of our workforce and encourage our employees to build diverse and fulfilling careers with ConocoPhillips. We develop our workforce through a combination of on-the-job learning, formal training, regular feedback, coaching and mentoring. Skills-based Talent Management Teams (TMTs) guide targeted employee development and career progression by skills, discipline and location. The TMTs help identify our workforce planning needs and assess the availability of critical skill sets within the company. We use a performance management program focused on objectivity, credibility and transparency. The program includes broad stakeholder feedback, real-time monetary and non-monetary recognition and a formal “how” rating to assess behaviors to ensure they align with our SPIRIT Values.

We empower our employees to grow their careers through personal and professional development opportunities, including individual development plans, annual career development conversations with supervisors, a voluntary 360-feedback tool and training on a broad range of technical and professional skills. Succession planning is a top priority for management and the Board of Directors. This work ensures we have the talent available for future leadership roles and serves to inspire employees to reach their ultimate potential and limit business interruption.

Taking steps to measure and assess employee satisfaction and engagement is at the heart of long-term business success and creating a great place to work for our global workforce. Since 2019, the ConocoPhillips Perspectives Survey has become our primary listening platform for gathering feedback on employee sentiment and promoting our “Who We Are” culture. Our leadership reviews the survey feedback to guide priorities and goals. Our employee feedback strategy is delivered through this annual engagement survey and as needed; shorter ad hoc pulse surveys are leveraged to unlock targeted insights in support of our human capital priorities.
Compensation, Benefits and Well-Being
We offer competitive, performance-based compensation packages and have global equitable pay practices. Our compensation programs are generally comprised of a base pay, the annual Variable Cash Incentive Program (VCIP) and, for eligible employees, the Restricted Stock Unit (RSU) program. From the CEO to the frontline worker, every employee participates in VCIP, our annual incentive program, which aligns employee compensation with ConocoPhillips’ success on critical performance metrics and also recognizes individual performance. Our RSU program is designed to attract and retain employees, reward performance and align employee interest with stockholders by encouraging stock ownership. Our retirement and savings plans are intended to support the financial futures of our employees and are competitive within local markets.

ConocoPhillips   2022 10-K
18

Business and Properties
We routinely benchmark our global compensation and benefits programs to ensure they are competitive, inclusive, aligned with company culture and allow our employees to meet their individual needs and the needs of their families. We provide flexible work schedules and competitive time off, including parental leave policies in many locations. We also offer employees flexibility through the Hybrid Office Work (HOW) program in all of our global locations, which provides eligible employees a combination of work from both office and home. We also provide coverage for families requiring disability support, elder care and childcare, including onsite childcare, where access locally is a challenge.

Our global wellness programs include biometric screenings and fitness challenges designed to educate and promote a healthy lifestyle. All employees have access to our employee assistance program, and many of our locations offer custom programs to support mental well-being.
Compensation Risk Mitigation
We have considered the risks associated with each of our executive and broad-based compensation programs and policies. As part of the analysis, we considered the performance measures we use as well as the different types of compensation, varied performance measurement periods and extended vesting schedules that we utilize under each incentive compensation program. As a result of this review, management concluded that the risks arising from our compensation policies and practices are not reasonably likely to have a material adverse effect on the company. As part of the Board of Directors’ oversight of our risk management programs, the Human Resources Compensation Committee (HRCC) conducts a similar review with the assistance of its independent compensation consultant. The HRCC agrees with management’s conclusion that the risks arising from our compensation policies and practices are not reasonably likely to have a material adverse effect on the company.
External Engagement
We care about our neighbors in the communities in which we operate. We actively support and participate in leadership conferences, trade associations and minority nonprofit organizations.

Our employees make our communities stronger. We are proud to support their generous involvement in local charitable activities through employee volunteerism and giving programs that include United Way campaigns, matching gift contributions and volunteer grants.
While we have been recognized for our ESG and DEI efforts, we know that it takes ongoing commitment to make sustainable progress.
General
At the end of 2022, we held a total of 1,249 active patents in 49 countries worldwide, including 472 active U.S. patents. During 2022, we received 46 patents in the U.S. and 124 foreign patents. Our products and processes generated licensing revenues of $86 million related to activity in 2022. The overall profitability of any business segment is not dependent on any single patent, trademark, license, franchise or concession.
The environmental information contained in Management’s Discussion and Analysis of Financial Condition and Results of Operations on pages 54 through 56 under the captions “Environmental” and “Climate Change” is incorporated herein by reference. It includes information on expensed and capitalized environmental costs for 2022 and those expected for 2023 and 2024.
Website Access to SEC Reports
Our internet website address is www.conocophillips.com. Information contained on our internet website is not part of this report on Form 10-K.
Our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and any amendments to these reports filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934 are available on our website, free of charge, as soon as reasonably practicable after such reports are filed with, or furnished to, the SEC. Alternatively, you may access these reports at the SEC’s website at www.sec.gov.
19
ConocoPhillips   2022 10-K

Risk Factors
Item 1A. Risk Factors
You should carefully consider the following risk factors in addition to the other information included in this Annual Report on Form 10-K. These risk factors are not the only risks we face. Our business could also be affected by additional risks and uncertainties not currently known to us or that we currently consider to be immaterial. If any of these risks or other risks that are yet unknown or currently considered immaterial were to occur, our business, operating results and financial condition, as well as the value of an investment in our common stock, could be materially and adversely affected.
Risks Related to Our Industry
Our operating results, our ability to execute on our strategy and the carrying value of our assets are exposed to the effects of changing commodity prices.
Among the most significant factors impacting the Company’s revenues, operating results and future rate of growth are the sales prices for crude oil, bitumen, LNG, natural gas and NGL. These prices can fluctuate widely, and many of the factors influencing the prices are beyond our control. Between January 2020 and December 2022, WTI crude oil prices ranged from a low of a negative $38 per barrel in April 2020 to a high of $124 per barrel in March 2022. Given the volatility in commodity price drivers and the worldwide political and economic environment, including potential economic slowdowns or recessions, as well as increased uncertainty generated by recent (and potential future) armed hostilities in various oil-producing regions around the globe, prices for crude oil, bitumen, LNG, natural gas and NGLs may continue to be volatile.
Low commodity prices could have a material adverse effect on our revenues, operating income, cash flows and liquidity, and may also affect the amount of dividends we elect to declare and pay on our common stock and the amount of shares we elect to acquire as part of the share repurchase program and the timing of such acquisitions. Lower prices may also limit the amount of reserves we can produce economically, thus adversely affecting our proved reserves and reserve replacement ratio and accelerating the reduction in our existing reserve levels as we continue production from upstream fields. Prolonged depressed prices may affect strategic decisions related to our operations, including decisions to reduce capital investments or curtail operated production.
Significant reductions in crude oil, bitumen, LNG, natural gas and NGL prices could also require us to reduce our capital expenditures, impair the carrying value of our assets or discontinue the classification of certain assets as proved reserves. Although it is not reasonably practicable to quantify the impact of any future impairments or estimated change to our unit-of-production rates at this time, our results of operations could be adversely affected as a result.
Unless we successfully develop resources, the scope of our business will decline, resulting in an adverse impact to our business.
As we produce crude oil, bitumen, natural gas and NGLs from our existing portfolio, the amount of our remaining reserves declines. If we are not successful in replacing the resources we produce with good prospects for future organic development or through acquisitions, our business will decline. In addition, our ability to successfully develop our reserves is dependent on a number of factors, including our ability to successfully navigate political and regulatory challenges to obtain and renew rights to develop and produce hydrocarbons; our success at reservoir optimization; our ability to bring long-lead time, capital intensive projects to completion on budget and on schedule; and our ability to efficiently and profitably operate mature properties. If we are not successful in developing the resources in our portfolio, our financial condition and results of operations may be adversely affected.
The exploration and production of oil and gas is a highly competitive industry.
The exploration and production of crude oil, bitumen, natural gas and NGLs is a highly competitive business. We compete with private, public and state-owned companies in all facets of the exploration and production business, including to locate and obtain new sources of supply and to produce crude oil, bitumen, natural gas and NGLs in an efficient, cost-effective manner. In addition, as the energy transition progresses, we anticipate the oil and gas industry will face additional competition from alternative fuels. We must compete for the materials, equipment, services, employees and other personnel (including geologists, geophysicists, engineers and other specialists) necessary to conduct our business. If we are not successful in our competition, our financial condition and results of operations may be adversely affected.
ConocoPhillips   2022 10-K
20

Risk Factors
Our ability to successfully execute on our energy transition plans is subject to a number of risks and uncertainties and may be costly to achieve.
In 2020, we announced our Paris-aligned climate risk framework, including an ambition to achieve net-zero emissions on operational emissions by 2050. In 2022, we published our Plan for the Net-Zero Energy Transition (the “Plan”) and continued to set increasingly ambitious targets around emissions and flaring. Our ability to achieve stated targets, goals and ambitions is subject to a number of risks and uncertainties out of our control, including the pace of development of currently undeveloped technologies, policies and markets, as well as potential regulations that may impair our ability to execute on current or future plans. Furthermore, we are still in the planning stages, and execution could be costly and have unforeseen obstacles. We may be required to purchase emission credits, and there may be insufficient offsets to achieve our goals. As advanced technologies are developed to accurately measure emissions, we may be required to revise our emissions estimates and reduction goals. We may be adversely affected and potentially need to reduce economic end-of-field life of certain assets and impair associated net book value due to the emissions intensity of some of our assets. Even if we meet our goals, our efforts may be characterized as insufficient.

In 2021, we established our Low-Carbon Technologies organization to identify and evaluate business opportunities that address end-use emissions and early-stage low-carbon technology opportunities that would leverage our existing expertise and adjacencies. While we perform a thorough analysis on these investments, the related technologies and markets are at early stages of development and we do not yet know what rate of return we will achieve. The success of our low-carbon strategy will in part be dependent upon the cooperation of agencies, the support of stakeholders, the success of our investments, and our ability to apply our existing strengths and expertise.

Any material change in the factors and assumptions underlying our estimates of crude oil, bitumen, natural gas and NGL reserves could impair the quantity and value of those reserves.
Our proved reserve information included in this annual report represents management’s best estimates based on assumptions, as of a specified date, of the volumes to be recovered from underground accumulations of crude oil, bitumen, natural gas and NGLs. Such volumes cannot be directly measured and the estimates and underlying assumptions used by management are subject to substantial risk and uncertainty. Any material changes in the factors and assumptions underlying our estimates of these items could result in a material negative impact to the volume of reserves reported or could cause us to incur impairment expenses on property associated with the production of those reserves. Future reserve revisions could also result from changes in, among other things, governmental regulation and commodity prices.
Our business may be adversely affected by price controls, government-imposed limitations on production or exports of crude oil, bitumen, LNG, natural gas and NGLs, or the unavailability of adequate gathering, processing, compression, transportation, and pipeline facilities and equipment for our production of crude oil, bitumen, natural gas and NGLs.
As discussed herein, our operations are subject to extensive governmental regulations. From time to time, regulatory agencies have imposed price controls and limitations on production by restricting the rate of flow of crude oil, bitumen, natural gas and NGL wells below actual production capacity. Similarly, in response to increased domestic energy costs, circumstances determined to be in the economic interest of the country, or a declared national emergency, governments could restrict the export or import of our products which would adversely impact our business. Because legal requirements are frequently changed and subject to interpretation, we cannot predict whether future restrictions on our business may be enacted or become applicable to us.
Our ability to sell and deliver the crude oil, bitumen, LNG, natural gas and NGLs that we produce also depends on the availability, proximity, and capacity of gathering, processing, compression, transportation and pipeline facilities and equipment, as well as any necessary diluents to prepare our crude oil, bitumen, LNG, natural gas and NGLs for transport. Furthermore, we rely on there being sufficient facilities and takeaway capacity to support our commitment to reduce routine flaring. The facilities, equipment and diluents we rely on may be temporarily unavailable to us due to market conditions, extreme weather events, regulatory reasons, mechanical reasons or other factors or conditions, many of which are beyond our control. In addition, in certain newer plays, the capacity of necessary facilities, equipment and diluents may not be sufficient to accommodate production from existing and new wells, and construction and permitting delays, permitting costs and regulatory or other constraints could limit or delay the construction, manufacture or other acquisition of new facilities and equipment. If any facilities, equipment or diluents, or any of the transportation methods and channels that we rely on become unavailable for any period of time, we may incur increased costs to transport our crude oil, bitumen, LNG, natural gas and NGLs for sale, or we may be forced to curtail our production of crude oil, bitumen, natural gas or NGLs.
21
ConocoPhillips   2022 10-K

Risk Factors
Our ability to manage risk or influence outcomes in joint ventures may be constrained.
We conduct many of our operations through joint ventures in which another joint venture partner is operator or we may not have majority control. In these cases, the economic, business, or legal interests or goals of the operator or the voting majority may be inconsistent with ours, and we may not be able to influence the decision making or outcomes to align with our interests or goals. Failure by an operator or a majority, with whom we have a joint venture interest, to adequately manage the risks associated with any operations could have an adverse effect on the financial condition or results of operations of our joint ventures and, in turn, our business and operations.
Our operations present hazards and risks that require significant and continuous oversight.
The scope and nature of our operations present a variety of significant hazards and risks, including operational hazards and risks such as explosions, fires, product spills, severe weather, geological events, global health crises, such as epidemics and pandemics, labor disputes, geopolitical tensions, armed hostilities, terrorist or piracy attacks, sabotage, civil unrest or cyberattacks. Our operations are subject to the additional hazards of pollution, toxic substances and other environmental hazards and risks. Offshore activities may pose incrementally greater risks because of complex subsurface conditions such as higher reservoir pressures, water depths and metocean conditions. All such hazards could result in loss of human life, significant property and equipment damage, environmental pollution, impairment of operations, substantial losses to us and damage to our reputation. Our business and operations may be disrupted if we do not respond, or are perceived not to respond, in an appropriate manner to any of these hazards and risks or any other major crisis or if we are unable to efficiently restore or replace affected operational components and capacity. Further, our insurance may not be adequate to compensate us for all resulting losses, and the cost to obtain adequate coverage may increase for us in the future or may not be available.

In addition, although we design and operate our business operations to accommodate expected climatic conditions, to the extent there are significant changes in the earth's climate, such as more severe or frequent weather conditions in the markets where we operate or the areas where our assets reside, we could incur increased expenses, our operations and supply chain could be adversely impacted and demand for our products could fall.
Our business has been, and may continue to be, adversely affected by the coronavirus (COVID-19) pandemic.
The COVID-19 pandemic and the measures put in place to address it negatively impacted the global economy, disrupted global supply chains, reduced global demand for oil and gas and created significant volatility and disruption of financial and commodity markets.

Our business was adversely impacted by the COVID-19 pandemic and may be impacted again in the future depending on the scope and severity of current or future outbreaks. Potential impacts to our business could include, but are not limited to, reduced demand for our products, disruptions to our supply chain, disruptions in our contractual arrangements with our service providers, suppliers and other counterparties, failures by our suppliers, contract manufacturers, contractors, joint venture partners and external business partners, to meet their obligations to us, reduced workforce productivity, and voluntary or involuntary curtailments to support oil prices or alleviate storage shortages for our products.

Any of these factors, or other cascading effects of the COVID-19 pandemic that are not currently foreseeable, could materially increase our costs, negatively impact our revenues and damage our financial condition, results of operations, cash flows and liquidity position. The full extent and duration of any such impacts cannot be predicted at this time because of the lack of certainty surrounding the pandemic.
ConocoPhillips   2022 10-K
22

Risk Factors
Legal and Regulatory Risks
We expect to continue to incur substantial capital expenditures and operating costs as a result of our compliance with existing and future environmental laws and regulations.
Our business is subject to numerous laws and regulations relating to the protection of the environment, which are expected to continue to have an increasing impact on our operations. For a description of the most significant of these environmental laws and regulations, see the “Contingencies—Environmental” and “Contingencies—Climate Change” sections of Management’s Discussion and Analysis of Financial Condition and Results of Operations. These laws and regulations continue to increase in both number and complexity and affect our operations with respect to, among other things:
Permits required in connection with exploration, drilling, production and other activities, including those issued by national, subnational, and local authorities;
The discharge of pollutants into the environment;
Emissions into the atmosphere, such as nitrogen oxides, sulfur dioxide, mercury and GHG emissions, including methane;
Carbon taxes;
The handling, use, storage, transportation, disposal and cleanup of hazardous materials and hazardous and nonhazardous wastes;
The dismantlement, abandonment and restoration of historic properties and facilities at the end of their useful lives; and
Exploration and production activities in certain areas, such as offshore environments, arctic fields, oil sands reservoirs and unconventional plays.
We have incurred and will continue to incur substantial capital, operating and maintenance, and remediation expenditures as a result of these laws and regulations. In addition, to the extent these expenditures are assumed by a buyer as a result of a disposition, it may result in our incurring substantial costs if the buyer is unable to satisfy these obligations. Any failure by us to comply with existing or future laws, regulations and other requirements could result in administrative or civil penalties, criminal fines, other enforcement actions or third-party litigation against us. To the extent these expenditures, as with all costs, are not ultimately reflected in the prices of our products, our business, financial condition, results of operations and cash flows in future periods could be adversely affected.
Existing and future laws, regulations and internal initiatives relating to global climate change, such as limitations on GHG emissions, may impact or limit our business plans, result in significant expenditures, promote alternative uses of energy or reduce demand for our products.
Continuing political and societal attention to the issue of global climate change has resulted in both existing and pending international agreements and national, regional or local legislation and regulatory measures to limit GHG emissions, such as cap and trade regimes, specific emission standards, carbon taxes, restrictive permitting, increased fuel efficiency standards, and incentives or mandates for renewable and alternative energy. Although we may support the intent of legislative and regulatory measures aimed at addressing climate-related risks, the specifics of how and when they are enacted could result in a material adverse effect to our business, financial condition, results of operations and cash flows in future periods.

For example, in November 2021, the U.S. Environmental Protection Agency published a Proposed Rule (revised and republished as a Supplemental Proposal in November 2022) that would revise the regulations governing the emission of GHG and volatile organic compounds from new oil and gas production facilities, and emission guidelines for states to use when revising Clean Air Act implementation plans to limit GHG emissions from existing oil and gas facilities. While the form and substance of the regulation is not yet final, the new regulation could result in additional capital expenditures and compliance, operating and maintenance costs, any of which may have an adverse effect on our business and results of operations.

Additionally, in 2022, the U.S. joined the international community at the 27th Conference of the Parties (COP27). At the conclusion of COP27, the U.S. and nearly 200 other countries, including most of the other countries in which we operate, renewed solidarity to deliver on the outstanding elements of the Paris Agreement and the Glasgow Climate Pact agreed to at the 26th Conference of the Parties in 2021. The implementation of current agreements and regulatory measures, as well as any future agreements or measures addressing climate change and GHG emissions, may adversely increase our capital and operating expenses, impact the demand for our products, impose taxes on our products or operations, or
23
ConocoPhillips   2022 10-K

Risk Factors
require us to purchase emission credits or reduce emissions of GHGs from our operations. For example, in August 2022, the U.S. enacted the Inflation Reduction Act of 2022, which includes a charge on methane emissions from selected facilities in the oil and gas industry, including many of the facilities operated by ConocoPhillips. As a result, we may experience declines in commodity prices or incur substantial capital expenditures and compliance, operating, maintenance and remediation costs, any of which may have an adverse effect on our business and results of operations.

For more information on legislation or precursors for possible regulation relating to global climate change that affect or could affect our operations and a description of the company's response, see the "Contingencies—Climate Change” sections of Management’s Discussion and Analysis of Financial Condition and Results of Operations.
Broader investor and societal attention to and efforts to address global climate change may limit who can do business with us or our access to capital and could subject us to litigation.

Increasing attention to global climate change has also resulted in pressure from and upon stockholders, financial institutions and other market participants to modify their relationships with oil and gas companies and to limit or discontinue investments, insurance and funding to such companies. For example, a significant number of financial institutions are now members of the Glasgow Financial Alliance for Net Zero (GFANZ), thereby pledging to the goal of net zero by 2050 on scope 1, 2 and 3 emissions, as well as setting interim targets for 2030 or earlier. While GFANZ members are not prohibited from having relationships with oil and gas companies, they are facing intense scrutiny for providing any sort of financial support to such companies, which may lead to greater restrictions on GFANZ members in the future. Conversely, we also face pressure from some in the investment community and certain public interest groups to limit the focus on ESG in our decision-making. As public pressure continues to mount, our access to capital on terms we find favorable (if it is available at all) may be limited, and our costs may increase, our reputation could be damaged, and our business and results of operations may be otherwise adversely affected.
Furthermore, increasing attention to global climate change has resulted in an increased likelihood of governmental investigations and private litigation, which could increase our costs or otherwise adversely affect our business. Beginning in 2017, cities, counties, governments and other entities in several states/territories in the U.S. have filed lawsuits against oil and gas companies, including ConocoPhillips, seeking compensatory damages and equitable relief to abate alleged climate change impacts. Additional lawsuits with similar allegations are expected to be filed. The amounts claimed by plaintiffs are unspecified and the legal and factual issues involved in these cases are unprecedented. ConocoPhillips believes these lawsuits are factually and legally meritless, and are an inappropriate vehicle to address the challenges associated with climate change and will vigorously defend against such lawsuits. The ultimate outcome and impact to us cannot be predicted with certainty, and we could incur substantial legal costs associated with defending these and similar lawsuits in the future. We could also receive lawsuits alleging a failure or lack of diligence to meet our publicly stated ESG goals, or alleging misrepresentation related to our ESG activity.
Political and economic developments could damage our operations and materially reduce our profitability and cash flows.
Actions of the U.S., state, local and foreign governments, through sanctions, tax and other legislation, executive orders and commercial restrictions, could reduce our operating profitability both in the U.S. and abroad. In certain locations, restrictions on our operations; leasing restrictions; special taxes or tax assessments; and payment transparency regulations that could require us to disclose competitively sensitive information or might cause us to violate non-disclosure laws of other countries have been imposed or proposed by governments or certain interest groups. In addition, we may face regulatory changes in the U.S. including, but not limited to, the enactment of tax law changes that adversely affect the fossil fuel industry, new methane emissions standards, restrictive flaring requirements, and more stringent environmental impact studies and reviews. We also cannot rule out the possibility of similar regulatory shifts and attendant cost and market access implications in other international jurisdictions.
One area subject to significant political and regulatory activity is the use of hydraulic fracturing, an essential completion technique that facilitates production of oil and natural gas otherwise trapped in lower permeability rock formations. A range of local, state, federal and national laws and regulations currently govern or, in some hydraulic fracturing operations, prohibit hydraulic fracturing in some jurisdictions. Although hydraulic fracturing has been conducted safely for many decades, a number of new laws, regulations and permitting requirements are under consideration which could result in increased costs, operating restrictions, operational delays or could limit the ability to develop oil and natural gas resources. Certain jurisdictions in which we operate have adopted or are considering regulations that could impose new or more stringent permitting, disclosure or other regulatory requirements on hydraulic fracturing or other oil and natural gas operations, including subsurface water disposal.
ConocoPhillips   2022 10-K
24

Risk Factors
In addition, certain interest groups have also proposed ballot initiatives and constitutional amendments designed to restrict oil and natural gas development generally and hydraulic fracturing in particular. In the event that ballot initiatives, local, state, or national restrictions or prohibitions are adopted and result in more stringent limitations on the production and development of oil and natural gas in areas where we conduct operations, we may incur significant costs to comply with such requirements or may experience delays or curtailment in the permitting or pursuit of exploration, development or production activities. Such compliance costs and delays, curtailments, limitations or prohibitions could have a material adverse effect on our business, prospects, results of operations, financial condition and liquidity.
Local political and economic factors in international markets could have a material adverse effect on us.

Approximately 32 percent of our hydrocarbon production was derived from production outside the U.S. in 2022, and 32 percent of our proved reserves, as of December 31, 2022, were located outside the U.S. We are subject to risks associated with our operations in foreign jurisdictions and international markets, including changes in foreign governmental policies relating to crude oil, bitumen, LNG, natural gas or NGL pricing and taxation, other political, economic or diplomatic developments (including the macro effects of international trade policies and disputes), potentially disruptive geopolitical conditions, and international monetary and currency rate fluctuations. For example, in response to higher energy prices resulting from the conflict between Russia and Ukraine, in December 2022, Australia’s Parliament passed legislation setting a one-year price cap on natural gas. Restrictions on production of oil and gas could increase to the extent governments view such measures as a viable approach for pursuing national and global energy and climate policies. In addition, some countries where we operate lack a fully independent judiciary system. This, coupled with changes in foreign law or policy, results in a lack of legal certainty that exposes our operations to increased risks, including increased difficulty in enforcing our agreements in those jurisdictions and increased risks of adverse actions by local government authorities, such as expropriations. Actions by host governments, such as the expropriation of our oil assets by the Venezuelan government, have affected operations significantly in the past and may continue to do so in the future.

In addition, the U.S. government has the authority to prevent or restrict us from doing business in foreign jurisdictions or with certain parties. These restrictions and similar restrictions imposed by foreign governments have in the past limited our ability to operate in, or gain access to, opportunities in various jurisdictions. Changes in domestic and international policies and regulations may also restrict our ability to obtain or maintain licenses or permits necessary to operate in foreign jurisdictions, including those necessary for drilling and development of wells. Similarly, the declaration of a “climate emergency” could result in actions to limit exports of our products and other restrictions.
Any of these actions could adversely affect our business or operating results.
Other Risk Factors Facing our Business or Operations
We may need additional capital in the future, and it may not be available on acceptable terms or at all.
We have historically relied primarily upon cash generated by our business to fund our operations and strategy; however, we have also relied from time to time on access to the capital markets for funding. There can be no assurance that additional financing will be available in the future on acceptable terms or at all. In addition, although we anticipate we will be able to repay our existing indebtedness when it matures or in accordance with our stated plans, there can be no assurance we will be able to do so. Our ability to obtain additional financing or refinance our existing indebtedness when it matures or in accordance with our plans, will be subject to a number of factors, including market conditions, our operating performance, investor sentiment and financial institution policies regarding the oil and gas industry. If we are unable to generate sufficient funds from operations or raise additional capital for any reason, our business could be adversely affected.
In addition, we are regularly evaluated by the major rating agencies based on a number of factors, including our financial strength and conditions affecting the oil and gas industry generally. We and other industry companies have had our ratings reduced in the past due to negative commodity price outlooks. Any downgrade in our credit rating or announcement that our credit rating is under review for possible downgrade could increase the cost associated with any additional indebtedness we incur.
25
ConocoPhillips   2022 10-K

Risk Factors
Our business may be adversely affected by deterioration in the credit quality of, or defaults under our contracts with, third-parties with whom we do business.
The operation of our business requires us to engage in transactions with numerous counterparties operating in a variety of industries, including other companies operating in the oil and gas industry. These counterparties may default on their obligations to us as a result of operational failures or a lack of liquidity, or for other reasons, including bankruptcy. Market speculation about the credit quality of these counterparties, or their ability to continue performing on their existing obligations, may also exacerbate any operational difficulties or liquidity issues they are experiencing. Any default by any of our counterparties may result in our inability to perform our obligations under agreements we have made with third-parties or may otherwise adversely affect our business or results of operations. In addition, our rights against any of our counterparties as a result of a default may not be adequate to compensate us for the resulting harm caused or may not be enforceable at all in some circumstances. We may also be forced to incur additional costs as we attempt to enforce any rights we have against a defaulting counterparty, which could further adversely impact our results of operations.
Our ability to execute our capital return program is subject to certain considerations.
In December 2021, we initiated a three-tier capital return program that consists of our ordinary dividend, share repurchases and a variable return of cash (VROC).
Ordinary dividends are authorized and determined by our Board of Directors in its sole discretion and depend upon a number of factors, including:
Cash available for distribution;
Our results of operations and anticipated future results of operations;
Our financial condition, especially in relation to the anticipated future capital needs of our properties;
The level of distributions paid by comparable companies;
Our operating expenses; and
Other factors our Board of Directors deems relevant.
VROC distributions are also authorized and determined by our Board of Directors in its sole discretion and depend upon a number of factors, including:
The anticipated level of distributions required to meet our capital returns commitment;
Forward prices;
The amount of cash we hold;
Total yield; and
Other factors our Board of Directors deems relevant.
We expect to continue to pay a quarterly ordinary dividend to our stockholders. In addition, based on the current environment, we anticipate also paying a quarterly VROC to our shareholders staggered from the ordinary dividend payment, resulting in up to eight cash distributions to shareholders throughout the year; however, the amount of dividends and VROC is variable and will depend upon the above factors, and our Board of Directors may determine not to pay a dividend or VROC in a quarter or may cease declaring a dividend or VROC at any time. For example, in October 2022, we paid a VROC of $1.40 per share, and in January 2023, we paid a VROC of $0.70 per share.
Additionally, as of December 31, 2022, $21.6 billion of repurchase authority remained of the $45 billion share repurchase program our Board of Directors had authorized. Our share repurchase program does not obligate us to acquire a specific number of shares during any period, and our decision to commence, discontinue or resume repurchases in any period will depend on the same factors that our Board of Directors may consider when declaring dividends, among other factors. In the past we have suspended our share repurchase program in response to market downturns, including as a result of the oil market downturn that began in early 2020, and we may do so again in the future.
Any downward revision in the amount of our ordinary dividend or VROC or the volume of shares we purchase under our share repurchase program could have an adverse effect on the market price of our common stock.
ConocoPhillips   2022 10-K
26

Risk Factors
There are substantial risks with any acquisitions or divestitures we have completed or that we may choose to undertake.
We regularly review our portfolio and pursue growth through acquisitions and seek to divest noncore assets or businesses. We may not be able to complete these transactions on favorable terms, on a timely basis, or at all. Even if we do complete such transactions, our cash flow from operations may be adversely impacted or otherwise the transactions may not result in the benefits anticipated due to various risks, including, but not limited to (i) the failure of the acquired assets or businesses to meet or exceed expected returns, including risk of impairment; (ii) the inability to dispose of noncore assets and businesses on satisfactory terms and conditions; and (iii) the discovery of unknown and unforeseen liabilities or other issues related to any acquisition for which contractual protections are inadequate or we lack insurance or indemnities, including environmental liabilities, or with regard to divested assets or businesses, claims by purchasers to whom we have provided contractual indemnification. In addition, we may face difficulties in integrating the operations, technologies, products and personnel of any acquired assets or businesses.
Our technologies, systems and networks may be subject to cybersecurity threats.
Our business, like others within the oil and gas industry, is faced with growing cybersecurity threats as we increasingly rely on digital technologies across our business, some of which are managed by third-party service providers on whom we rely to help us collect, host or process information. As a result, we face various cybersecurity threats, both internal and external, such as attempts to gain unauthorized access to, or control of, sensitive information about our operations and our employees, attempts to render our data or systems (or those of third-parties with whom we do business, including third-party cloud and IT service providers) corrupted or unusable, threats to the security of our facilities and infrastructure as well as those of third-parties with whom we do business, including third-party cloud and IT service providers, and attempted cyber terrorism.

Cybersecurity threats could affect the security of our data and proprietary information housed internally and on third-party IT systems, including the cloud. A successful attack may result in gaining unauthorized access to, or control of, and disclosure of sensitive information about our operations and our employees and/or partners; attempts to corrupt, sabotage, or render our data or systems (or those of third parties with whom we do business, including third-party cloud and IT service providers) unusable; theft or manipulation of our proprietary business information, whether from insiders or external threat actors; and cyberextortion for the return of data. The impact to our data could subject our company to potential reputational damage, legal liability, regulatory fines and penalties, and increased compliance costs.

In addition, cybersecurity threats could also disrupt our oil and gas operations both domestically and abroad given that computers aid to control production, our equipment and monitor our distribution systems globally and are necessary to deliver our production to market. A disruption, failure, or a cyberattack of these operating systems, or of the networks, software and infrastructure on which they rely, many of which are not owned or operated by us, could damage production, distribution or storage assets, delay or prevent delivery to markets, make it difficult or impossible to accurately account for production and settle transactions, or negatively impact public health or safety, economic security, or national security.

Although we have experienced occasional cybersecurity threats, none have currently had a material effect on our business, operations or reputation. We will comply with government-imposed security requirements to implement specific mitigation measures to protect against cybersecurity threats to our information and operational technology. In addition, we must continually expend additional resources to continue to modify or enhance our protective measures or to investigate and remediate any vulnerabilities detected. We maintain an extensive network of technical security procedures and controls, training, and policy enforcement mechanisms to monitor and mitigate security threats and to increase security for our information, facilities and infrastructure. Despite our ongoing investments in security resources, talent and business practices, we are unable to assure that any security measures, or measures implemented by third parties, will be completely effective.

If our systems and infrastructure were to be breached, damaged or disrupted, we could be subject to serious negative consequences, including disruption of our operations, damage to our reputation, a loss of employee and/or third party trust, reimbursement or other costs, increased compliance costs, litigation exposure and legal liability or regulatory fines, penalties or intervention. In addition, we have exposure to cybersecurity incidents and the negative impacts of such incidents related to our data and proprietary information housed on third-party IT systems, including the cloud. Any of these could materially and adversely affect our business, results of operations or financial condition, and any of the foregoing can be exacerbated by a delay or failure to detect a cybersecurity incident or the full extent of such incident notwithstanding reasonable security procedures and controls. The prevalence of remote work has introduced additional
27
ConocoPhillips   2022 10-K

Risk Factors
cybersecurity risk. Although we have business continuity plans in place, our operations may be adversely affected by significant and widespread disruption to our systems and infrastructure that support our business. While we continue to evolve and modify our business continuity plans, there can be no assurance that they will be completely effective in avoiding disruption and business impacts. Further, our insurance may not be adequate to compensate us for all resulting losses, and the cost to obtain adequate coverage may increase for us in the future.

Item 1B. Unresolved Staff Comments
None.
Item 3. Legal Proceedings
We are a defendant in a number of legal and administrative proceedings arising in the ordinary course of business, including those involving governmental authorities under federal, state and local laws regulating the discharge of materials into the environment. While it is not possible to accurately predict the final outcome of these pending proceedings, if any one or more of such proceedings were to be decided adversely to ConocoPhillips, we expect there would not be a material effect to our consolidated financial position.

ConocoPhillips has elected to use a $1 million threshold for disclosing certain proceedings arising under federal, state or local environmental laws when a governmental authority is a party. ConocoPhillips believes proceedings under this threshold are not material to ConocoPhillips' business and financial condition. Applying this threshold, there are no such proceedings to disclose for the year ended December 31, 2022. See Note 11 for information regarding other legal and administrative proceedings.
Item 4. Mine Safety Disclosures
Not applicable.

Information about our Executive Officers
NamePosition HeldAge*
William L. Bullock, Jr.
Executive Vice President and Chief Financial Officer
58
Christopher P. Delk
Vice President, Controller and General Tax Counsel
53
Ryan M. LanceChairman of the Board of Directors and Chief Executive Officer60
Andrew D. LundquistSenior Vice President, Government Affairs62
Dominic E. MacklonExecutive Vice President, Strategy, Sustainability and Technology53
Andrew M. O'BrienSenior Vice President, Global Operations48
Nicholas G. OldsExecutive Vice President, Lower 4853
Kelly B. RoseSenior Vice President, Legal, General Counsel56
Heather G. SirdashneySenior Vice President, Human Resources and Real Estate and Facilities Services50
_____________________
*On February 16, 2023.
There are no family relationships among any of the officers named above. Each officer of the company is elected by the Board of Directors at its first meeting after the Annual Meeting of Stockholders and thereafter as appropriate. Each officer of the company holds office from the date of election until the first meeting of the directors held after the next Annual Meeting of Stockholders or until a successor is elected. The date of the next annual meeting is May 16, 2023. Set forth below is information about the executive officers.
William L. Bullock, Jr. was appointed Executive Vice President and Chief Financial Officer as of September 2020, having previously served as President, Asia Pacific & Middle East since April 2015. Prior to that, he was Vice President, Corporate Planning & Development since May 2012.

ConocoPhillips   2022 10-K
28

Christopher P. Delk was appointed Vice President, Controller and General Tax Counsel in November 2022, having previously served as Vice President and General Tax Counsel since July 2015.
Ryan M. Lance was appointed Chairman of the Board of Directors and Chief Executive Officer in May 2012, having previously served as Senior Vice President, Exploration and Production—International since May 2009.
Andrew D. Lundquist was appointed Senior Vice President, Government Affairs in February 2013. Prior to that, he served as managing partner of BlueWater Strategies LLC, since 2002.
Dominic E. Macklon was appointed Executive Vice President, Strategy, Sustainability and Technology in September 2021, having previously served as Senior Vice President, Strategy, Exploration and Technology since August 2020. Prior to that, he served as President, Lower 48 from June 2018 to August 2020, Vice President, Corporate Planning & Development from January 2017 to June 2018, and President, U.K. from September 2015 to January 2017. Mr. Macklon previously served as Senior Vice President, Oil Sands in Canada from July 2012 to September 2015.

Andrew M. O'Brien was appointed Senior Vice President, Global Operations in November 2022, having previously served as Vice President and Treasurer since May 2021. Prior to that, he served as Vice President of Corporate Planning and Development from August 2020 to May 2021, Lower 48 Finance Manager from August 2018 to August 2020, and Manager of Investor Relations from November 2016 to August 2018.

Nicholas G. Olds was appointed Executive Vice President, Lower 48 in November 2022, having previously served as Executive Vice President, Global Operations since September 2021. Prior to that, he served as Senior Vice President, Global Operations from August 2020 to September 2021, Vice President, Corporate Planning & Development from June 2018 to August 2020, Vice President, Mid-Continent Business Unit, Lower 48 from September 2016 to June 2018, and Vice President, North Slope Operations and Development in Alaska from August 2012 to September 2016.
Kelly B. Rose was appointed Senior Vice President, Legal, General Counsel in September 2018. Prior to that, she was a senior partner in the Houston office of an international law firm, Baker Botts L.L.P., where she counseled clients on corporate and securities matters. She began her career at the firm in 1991.
Heather G. Sirdashney was appointed Senior Vice President, Human Resources and Real Estate and Facilities Services in March 2022, having previously served as Vice President, Human Resources from January 2019. Prior to that, she served as Human Resources General Manager from October 2015 to January 2019.
29
ConocoPhillips   2022 10-K

Part II
Item 5.    Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
ConocoPhillips’ common stock is traded on the New York Stock Exchange, under the symbol “COP.”
Cash Dividends Per Share
20222021
OrdinaryVROCOrdinaryVROC
First$0.46 0.30 0.43 
Second0.46 0.70 0.43 
Third0.46 1.40 0.43 
Fourth0.51 0.70 0.46 0.20 
Number of Stockholders of Record at January 31, 2023*
36,132
Dividends shown above reflect the quarter in which the dividend was declared.
*In determining the number of stockholders, we consider clearing agencies and security position listings as one stockholder for each agency listing.
In December 2021, we announced the addition of a VROC tier to our return of capital program. The declaration of ordinary dividends and VROC are subject to the discretion and approval of our Board of Directors. The Board has adopted a dividend declaration policy providing that the declaration of any dividends will be determined quarterly. For more information on factors considered when determining the level of these distributions see “Item 1A —Risk Factors – Our ability to execute our capital return program is subject to certain considerations.”
Issuer Purchases of Equity Securities
Millions of Dollars
PeriodTotal Number of
Shares Purchased*
Average
Price Paid
Per Share
Shares Purchased
as Part of Publicly
Announced Plans
or Programs
Approximate Dollar
Value of Shares
that May Yet Be
Purchased Under the
Plans or Programs
October 1-31, 20226,800,856 $117.62 6,800,856 $23,536 
November 1-30, 20227,285,173 129.56 7,285,173 22,592 
December 1-31, 20228,635,020 115.98 8,635,020 21,591 
22,721,049 22,721,049 
* There were no repurchases of common stock from company employees in connection with the company's broad-based employee incentive plans.
In late 2016, we initiated our current share repurchase program. In October 2022, our Board of Directors approved an increase to our authorization from $25 billion to $45 billion of common stock to support our plan for future share repurchases. As of December 31, 2022, we had repurchased $23.4 billion of shares. Repurchases are made at management’s discretion, at prevailing prices, subject to market conditions and other factors. Except as limited by applicable legal requirements, repurchases may be increased, decreased or discontinued at any time without prior notice. Shares of stock repurchased under the plan are held as treasury shares. For more information see “Item 1A—Risk Factors – Our ability to execute our capital return program is subject to certain considerations.
ConocoPhillips   2022 10-K
30

Stock Performance Graph
The following graph shows the cumulative TSR for ConocoPhillips’ common stock in each of the five years from December 31, 2017 to December 31, 2022. The graph also compares the cumulative total returns for the same five-year period with the S&P 500 Index and our performance peer group consisting of Chevron, ExxonMobil, Apache, Marathon Oil Corporation, Devon, Occidental, Hess, and EOG weighted according to the respective peer’s stock market capitalization at the beginning of each annual period.
The comparison assumes $100 was invested on December 31, 2017, in ConocoPhillips stock, the S&P 500 Index and ConocoPhillips’ peer group and assumes that all dividends were reinvested. The cumulative total returns of the peer group companies' common stock do not include the cumulative total return of ConocoPhillips’ common stock. The stock price performance included in this graph is not necessarily indicative of future stock price performance.
cop-20221231_g8.jpg

31
ConocoPhillips   2022 10-K

Management’s Discussion and Analysis
Item 7.    Management’s Discussion and Analysis of Financial Condition and
Results of Operations
Management’s Discussio