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Updated Aug 11, 2026
ConocoPhillips names CFO Andy O'Brien as next CEO; Ryan Lance becomes Executive Chair.
ConocoPhillips has announced a planned leadership succession effective September 1, 2026, with Andrew O'Brien, the current Executive Vice President of Strategy, Commercial and CFO, transitioning to President and CEO, while incumbent Ryan Lance moves to Executive Chair in a transitional role after 14 years as CEO. Kontessa Haynes-Welsh, currently Vice President of Finance and Controller, becomes Senior Vice President and CFO, and Greig Patterson advances from Vice President of Corporate Planning & Development to Vice President of Finance and Controller. This is an orderly internal promotion with no material changes to strategy disclosed in the filing.
Tone: neutralRevenue
$58.9B
COP 10-K · FY 2025
Employees
9,900
Revenue FY2024
$54.7B
Headquarters
Houston, TX
Profile
COP 10-K Item 1 · Feb 17, 2026ConocoPhillips is one of the world's leading exploration and production companies, operating in 14 countries with a diversified portfolio spanning unconventional plays, conventional assets, oil sands, and global LNG developments. The company is headquartered in Houston, Texas, and employs approximately 9,900 people worldwide. Its strategy centers on disciplined investment, peer-leading shareholder distributions, and responsible ESG performance through commodity price cycles.
Read filing description ↓ Collapse description ↑
ConocoPhillips is one of the world's leading E&P companies, based on both production and reserves, with operations and activities in 14 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; global LNG developments; oil sands in Canada; and an inventory of global exploration prospects. Headquartered in Houston, Texas, at December 31, 2025, we employed approximately 9,900 people worldwide and had total assets of $122 billion. We anticipate that commodity prices will continue to be cyclical and volatile, and our view is that a successful business strategy in the E&P industry must be resilient in lower price environments while also retaining upside during periods of higher prices. As such, we are unhedged, remain committed to our disciplined investment framework and continually monitor market fundamentals, including the impacts associated with geopolitical tensions and conflicts, global demand for our products, oil and gas inventory levels, governmental policies, inflation and supply chain disruptions. Our value proposition to deliver competitive returns to stockholders through price cycles is guided by our foundational principles, which consist of maintaining balance sheet strength, providing peer-leading distributions, making disciplined investments, and demonstrating responsible and reliable ESG performance.
Primary products
- crude oil
- bitumen
- LNG
- natural gas
- NGLs
Business segments
End markets
Geographies
“ConocoPhillips is one of the world's leading E&P companies, based on both production and reserves, with operations and activities in 14 countries.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Total revenues increased from $33.4 billion in 2024 to $35.9 billion in 2025, driven primarily by higher production volumes following the Marathon Oil integration, partially offset by crude oil price volatility.
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