Form 8-K

8-K — CONOCOPHILLIPS

Accession: 0001163165-26-000030

Filed: 2026-08-06

Period: 2026-08-06

CIK: 0001163165

SIC: 2911 (PETROLEUM REFINING)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — cop-20260806.htm (Primary)

EX-99.1 (cop-20260806x8kexx991.htm)

EX-99.2 (cop-20260806x8kexx992.htm)

GRAPHIC (conocophillipslogo23.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: cop-20260806.htm · Sequence: 1

cop-20260806

0001163165FALSE00011631652026-08-062026-08-060001163165us-gaap:CommonStockMember2026-08-062026-08-060001163165cop:SevenPercentDebenturesDueTwentyTwentyNineMember2026-08-062026-08-06

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

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

Date of Report (date of earliest event reported): August 6, 2026

ConocoPhillips

(Exact name of registrant as specified in its charter)

Delaware 001-32395 01-0562944

(State or other jurisdiction of

incorporation) (Commission

File Number) (I.R.S. Employer

Identification No.)

925 N. Eldridge Parkway

Houston, Texas 77079

(Address of principal executive offices and zip code)

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

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

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

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

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

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

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

Title of each class Trading Symbol(s) Name of each exchange on which registered

Common Stock, $.01 Par Value COP New York Stock Exchange

7% Debentures due 2029 CUSIP-718507BK1 New York Stock Exchange

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

Emerging growth company ☐

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

Item 2.02 Results of Operations and Financial Condition.

On August 6, 2026, ConocoPhillips issued a press release announcing the company's financial and operating results for the quarter ended June 30, 2026. A copy of the press release is furnished as Exhibit 99.1 hereto and incorporated herein by reference. Additional financial and operating information about the quarter is furnished as Exhibit 99.2 hereto and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No. Description

99.1

—

Press release issued by ConocoPhillips on August 6, 2026.

99.2

—

Supplemental financial information.

104 — Cover Page Interactive Data File (formatted as Inline XBRL and filed herewith).

SIGNATURES

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

CONOCOPHILLIPS

/s/ Kontessa Haynes-Welsh

Kontessa Haynes-Welsh

Vice President and Controller

August 6, 2026

EX-99.1

Filename: cop-20260806x8kexx991.htm · Sequence: 2

Document

Exhibit 99.1

ConocoPhillips announces second-quarter 2026 results and quarterly dividend

•Reported second-quarter 2026 earnings per share of $3.23 and adjusted earnings per share of $3.24.

•Generated cash provided by operating activities of $7.4 billion and cash from operations (CFO) of $7.2 billion.

•Doubled share repurchases in the second quarter, increasing total shareholder distributions to $3.0 billion; on track for 45% return of CFO in 2026.

•Declared third-quarter ordinary dividend of $0.84 per share.

•Reaffirmed full-year guidance items.

HOUSTON—Aug. 6, 2026—ConocoPhillips (NYSE: COP) today reported second-quarter 2026 earnings of $3.9 billion, or $3.23 per share, compared with second-quarter 2025 earnings of $2.0 billion, or $1.56 per share. Excluding special items, second-quarter 2026 adjusted earnings were $4.0 billion, or $3.24 per share, compared with second-quarter 2025 adjusted earnings of $1.8 billion, or $1.42 per share.

“ConocoPhillips delivered strong second-quarter results with exceptional operational performance, record production from our peer-leading Permian position and disciplined execution across the business, all while continuing to progress our strategic priorities,” said Ryan Lance, chairman and chief executive officer. “We doubled our quarterly share repurchases, achieved our $5 billion asset disposition target ahead of schedule, secured low cost of supply opportunities in the Middle East, and increased our LNG offtake to 12 MTPA. We are executing well, delivering on our strategy, and remain on track to achieve our $7 billion free cash flow inflection by 2029.”

Second-quarter highlights and recent announcements

•Delivered total company and Lower 48 production of 2,248 thousand barrels of oil equivalent per day (MBOED) and 1,479 MBOED, respectively.

•Increased shareholder distributions to $3.0 billion, including $2.0 billion through share repurchases and $1.0 billion through the ordinary dividend.

•Signed agreements to sell noncore Lower 48 assets for $1.7 billion, which closed in July, achieving $5 billion disposition target ahead of schedule.

•Signed an agreement to acquire a 42% interest in a joint venture in the Kirkuk area of northern Iraq, accessing long-life, conventional redevelopment opportunities at an attractive entry cost and competitive cost of supply; closing expected by year-end 2026.

•Executed an agreement for re-entry into Syria, leveraging existing infrastructure to restore and increase production at onshore fields.

•Advanced commercial LNG strategy with additional 2 million tonnes per annum (MTPA) of offtake agreements, bringing total LNG offtake to 12 MTPA.

•Ended the quarter with cash and short-term investments of $8.1 billion and long-term investments of $1.2 billion.

Quarterly dividend

ConocoPhillips declared a third-quarter ordinary dividend of $0.84 per share, payable Sept. 1, 2026, to stockholders of record at the close of business on Aug. 17, 2026.

Second-quarter review

ConocoPhillips announces second-quarter 2026 results and quarterly dividend

Production for the second quarter of 2026 was 2,248 MBOED, a decrease of 143 MBOED from the same period a year ago. After adjusting for closed acquisitions and dispositions, second-quarter 2026 production decreased 98 MBOED or 4% from the same period a year ago. Organic growth from Lower 48 was more than offset by the impact of the Middle East conflict on Qatar and higher Surmont royalties.

Lower 48 delivered production of 1,479 MBOED, including 720 MBOED from the Delaware Basin, 202 MBOED from the Midland Basin, 363 MBOED from the Eagle Ford and 189 MBOED from the Bakken.

Earnings and adjusted earnings increased from the second quarter of 2025, primarily due to higher prices. The company’s total average realized price was $62.33 per BOE, 36% higher than the $45.77 per BOE realized in the second quarter of 2025.

For the quarter, cash provided by operating activities was $7.4 billion. Excluding a change in working capital, ConocoPhillips generated CFO of $7.2 billion. In addition, ConocoPhillips received $0.2 billion of disposition proceeds from the sale of noncore assets. The company funded $3.0 billion of capital expenditures and investments, repurchased $2.0 billion of shares, and paid $1.0 billion in ordinary dividends.

Six-month review

ConocoPhillips’ six-month 2026 earnings were $6.1 billion, or $5.00 per share, compared with six-month 2025 earnings of $4.8 billion, or $3.79 per share. Six-month 2026 adjusted earnings were $6.3 billion, or $5.13 per share, compared with six-month 2025 adjusted earnings of $4.5 billion, or $3.52 per share.

Production for the first six months of 2026 was 2,278 MBOED, a decrease of 113 MBOED from the same period a year ago. After adjusting for closed acquisitions and dispositions, production decreased 57 MBOED or 2% from the same period a year ago. Organic growth from Lower 48 was more than offset by the impact of the Middle East conflict on Qatar and higher Surmont royalties.

The company’s total realized price during this period was $56.37 per BOE, 14% higher than the $49.54 per BOE realized in the first six months of 2025.

In the first six months of 2026, cash provided by operating activities was $11.7 billion. Excluding a change in working capital, ConocoPhillips generated CFO of $12.6 billion and received disposition proceeds of $0.2 billion. The company funded $6.0 billion of capital expenditures and investments, repurchased $3.0 billion of shares, and paid $2.1 billion in ordinary dividends.

Outlook

Third-quarter 2026 production is expected to be 2.29 to 2.32 million barrels of oil equivalent per day.

All full-year guidance items remain unchanged.

ConocoPhillips will host a conference call today at 12:00 p.m. Eastern time to discuss this announcement. To listen to the call and view related presentation materials and supplemental information, go to www.conocophillips.com/investor. A recording and transcript of the call will be posted afterward.

--- # # # ---

ConocoPhillips announces second-quarter 2026 results and quarterly dividend

About ConocoPhillips

As a leading global exploration and production company, ConocoPhillips is uniquely equipped to deliver reliable, responsibly produced oil and gas. Our deep, durable and diverse portfolio is built to meet growing global energy demands. Together with our high-performing operations and continuously advancing technology, we are well positioned to deliver strong, consistent financial results, now and for decades to come. Visit us at www.conocophillips.com.

Contacts

Media Relations

281-293-1149

media@conocophillips.com

Investor Relations

281-293-5000

investor.relations@conocophillips.com

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

This news release contains forward-looking statements as defined under the federal securities laws. Forward-looking statements relate to future events, including, without limitation, statements regarding our future financial position, business strategy, budgets, projected revenues, costs and plans, and objectives of management for future operations. Words and phrases such as “ambition,” “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 other similar words can be used to identify forward-looking statements. However, the absence of these words does not mean that the statements are not forward-looking. Where, in any forward-looking statement, the company expresses an expectation or belief as to future results, such expectation or belief is expressed in good faith and believed to be reasonable at the time such forward-looking statement is made. However, these statements are not guarantees of future performance and involve certain risks, uncertainties and other factors beyond our control. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in the forward-looking statements. Factors that could cause actual results or events to differ materially from what is presented include, but are not limited to, the following: effects of volatile commodity prices, including prolonged periods of low commodity prices, which may adversely impact our operating results and our ability to execute on our strategy and could result in recognition of impairment charges on our long-lived assets, leaseholds and nonconsolidated equity investments; global and regional changes in the demand, supply, prices, differentials or other market conditions affecting oil and gas, including changes as a result of any ongoing military conflict and the global response to such conflict, security threats on facilities and infrastructure, global health crises, the imposition or lifting of crude oil production quotas or other actions that might be imposed by OPEC and other producing countries or the resulting company or third-party actions in response to such changes; the potential for insufficient liquidity or other factors that could impact our ability to repurchase shares and declare and pay dividends; potential failures or delays in achieving expected reserve or production levels from existing and future oil and gas developments, including due to operating hazards, drilling risks and the inherent uncertainties in predicting reserves and reservoir performance; reductions in our reserve replacement rates, whether as a result of significant declines in commodity prices or otherwise; unsuccessful exploratory drilling activities or the inability to obtain access to exploratory acreage; failure to progress or complete announced and future development plans related to constructing, modifying or operating E&P and LNG facilities, or unexpected changes in costs, inflationary pressures or technical equipment related to such plans; significant operational or investment changes imposed by legislative and regulatory initiatives and international agreements addressing environmental concerns, including initiatives addressing the impact of global climate change, such as limiting or reducing GHG emissions, regulations concerning hydraulic fracturing, methane emissions, flaring or water disposal and prohibitions on commodity exports; substantial investment in and increased adoption of competing or alternative energy sources; risks, uncertainties and high costs that may prevent us from successfully executing on our Climate-related Risk Strategy; lack or inadequacy of, or disruptions in reliable transportation for our crude oil, bitumen, natural gas, LNG and NGLs; inability to timely obtain or maintain permits, including those necessary for construction, drilling and/or development, or inability to make capital expenditures required to maintain compliance with any necessary permits or applicable laws or regulations; potential disruption or interruption of our operations and any resulting consequences due to accidents, extraordinary weather events, supply chain disruptions, civil unrest, political events, war, terrorism, cybersecurity threats or information technology failures, constraints or disruptions; liability for remedial actions, including removal and reclamation obligations, under existing or future environmental regulations and litigation; liability resulting from pending or future litigation or our failure to comply with applicable laws and regulations; general domestic and international economic, political and diplomatic developments, including deterioration of international trade relationships, the imposition of trade restrictions or tariffs relating to commodities and material or products (such as aluminum and steel) used in the operation of our business, expropriation of assets, changes in governmental policies relating to commodity pricing, including the imposition of price caps, sanctions or other adverse regulations or taxation policies; competition and consolidation in the oil and gas E&P industry, including competition for sources of supply, services, personnel and equipment; any limitations on our access to capital or increase in our cost of capital or insurance, including as a result of illiquidity, changes or uncertainty in domestic or international financial markets, foreign currency exchange rate fluctuations or investment sentiment;

ConocoPhillips announces second-quarter 2026 results and quarterly dividend

challenges or delays to our execution of, or successful implementation of any asset dispositions or acquisitions we elect to pursue; potential disruption of our operations, including the diversion of management time and attention; our inability to realize anticipated cost savings or capital expenditure reductions; difficulties integrating acquired businesses and technologies; or other unanticipated changes; our inability to deploy the net proceeds from any asset dispositions that are pending or that we elect to undertake in the future in the manner and timeframe we anticipate, if at all; the operation, financing and management of risks of our joint ventures; the ability of our customers and other contractual counterparties to satisfy their obligations to us, including our ability to collect payments when due from the government of Venezuela or PDVSA; uncertainty as to the long-term value of our common stock; and other economic, business, competitive and/or regulatory factors affecting our business generally as set forth in our filings with the Securities and Exchange Commission. Unless legally required, ConocoPhillips expressly disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

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

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

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

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

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

Other Terms – This news release also may contain the term pro forma underlying production. Pro forma underlying production reflects the impact of closed acquisitions and closed dispositions as of June 30, 2026. The impact of closed acquisitions and dispositions assumes a closing date of Jan. 1, 2025. The company believes that underlying production is useful to investors to compare production reflecting the impact of closed acquisitions and dispositions on a consistent go-forward basis across periods and with peer companies. Return of capital is defined as the total of the ordinary dividend and share repurchases. References in the release to project capital exclude capitalized interest and references to earnings refer to net income.

ConocoPhillips announces second-quarter 2026 results and quarterly dividend

ConocoPhillips

Table 1: Reconciliation of earnings to adjusted earnings

$ millions, except as indicated

2Q26 2Q25 2026 YTD 2025 YTD

Pre-tax Income

tax After-tax Per share of common stock (dollars) Pre-tax Income

tax After-tax Per share of common stock (dollars)

Earnings $ 3,931 3.23 1,971 1.56 6,114 5.00 4,820 3.79

Adjustments:

(Gain) loss on asset sales — — — — (274) 64 (210) (0.17) — — (338) 23 (315) (0.25)

Transaction, integration and restructuring expenses 32 (7) 25 0.02 58 (12) 46 0.04 47 (10) 37 0.03 111 (24) 87 0.07

(Gain) loss in interest rate hedge¹ (37) 9 (28) (0.02) (18) 4 (14) (0.01) (28) 7 (21) (0.02) (33) 7 (26) (0.02)

Pending claims and settlements 30 (7) 23 0.02 — — — — 113 (27) 86 0.07 (123) 29 (94) (0.07)

(Gain) loss on contingent liability measurement2

— — — — — — — — 78 (19) 59 0.05 — — — —

Adjusted earnings / (loss) $ 3,951 3.24 1,793 1.42 6,275 5.13 4,472 3.52

¹Interest rate hedging (gain) loss from PALNG Phase 1 Investment.

2Related to our Surmont acquisition.

The income tax effects of the special items are primarily calculated based on the statutory rate of the jurisdiction in which the discrete item resides.

Certain totals may differ from the sum of the underlying components due to rounding.

ConocoPhillips

Table 2: Reconciliation of net cash provided by operating activities to cash from operations

$ millions, except as indicated

2Q26 2026 YTD

Net Cash Provided by Operating Activities $ 7,434 11,729

Adjustments:

Net operating working capital changes 258 (834)

Cash from operations $ 7,176 12,563

ConocoPhillips

Table 3: Reconciliation of reported production to pro forma underlying production

MBOED, except as indicated

2Q26 2Q25 2026 YTD 2025 YTD

Total reported ConocoPhillips production 2,248 2,391 2,278 2,391

Closed Dispositions1

— (45) — (56)

Closed Acquisitions

— — — —

Total pro forma underlying production 2,248 2,346 2,278 2,335

1Includes production related to various Lower 48 noncore dispositions.

Certain totals may differ from the sum of the underlying components due to rounding.

EX-99.2

Filename: cop-20260806x8kexx992.htm · Sequence: 3

Document

Exhibit 99.2

Second-Quarter 2026 Detailed Supplemental Information

2025 2026

1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Full Year 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD

$ Millions, Except as Indicated

CONSOLIDATED INCOME STATEMENT

Revenues and other income

Sales and other operating revenues 16,517 14,004 15,031 13,392 58,944 15,761 19,161 34,922

Equity in earnings of affiliates 392 315 345 283 1,335 247 239 486

Gain (loss) on dispositions 79 317 3 332 731 5 14 19

Other income 113 104 143 178 538 41 108 149

Total revenues and other income 17,101 14,740 15,522 14,185 61,548 16,054 19,522 35,576

Costs and expenses

Purchased commodities 6,188 5,085 5,857 5,195 22,325 6,283 6,712 12,995

Production and operating expenses 2,506 2,572 2,632 2,621 10,331 2,276 2,431 4,707

Selling, general and administrative expenses 191 250 271 181 893 193 188 381

Exploration expenses 117 81 71 138 407 109 75 184

Depreciation, depletion and amortization 2,746 2,838 2,917 2,999 11,500 2,906 2,983 5,889

Impairments 1 1 10 14 26 19 2 21

Taxes other than income taxes 551 572 525 498 2,146 607 793 1,400

Accretion on discounted liabilities 94 95 94 95 378 97 99 196

Interest and debt expense 205 232 223 195 855 198 182 380

Foreign currency transactions (gain) loss 30 (3) (6) (10) 11 — (25) (25)

Other expenses 6 — — 14 20 3 — 3

Total costs and expenses 12,635 11,723 12,594 11,940 48,892 12,691 13,440 26,131

Income (loss) before income taxes 4,466 3,017 2,928 2,245 12,656 3,363 6,082 9,445

Income tax provision (benefit) 1,617 1,046 1,202 803 4,668 1,180 2,151 3,331

Net income (loss) 2,849 1,971 1,726 1,442 7,988 2,183 3,931 6,114

Net income (loss) per share of common stock (dollars)

Basic 2.23 1.56 1.38 1.17 6.36 1.78 3.23 5.00

Diluted 2.23 1.56 1.38 1.17 6.35 1.78 3.23 5.00

Weighted-average common shares outstanding (in thousands)*

Basic 1,273,350 1,257,512 1,245,253 1,232,575 1,252,042 1,224,036 1,213,453 1,218,715

Diluted 1,274,879 1,258,998 1,246,854 1,233,956 1,253,446 1,224,960 1,214,255 1,219,492

*Ending common shares outstanding is 1,201,337 as of June 30, 2026, compared with 1,218,294 as of March 31, 2026.

INCOME (LOSS) BEFORE INCOME TAXES

Alaska 466 182 191 162 1,001 386 681 1,067

Lower 48 2,238 1,781 1,585 1,040 6,644 1,798 3,306 5,104

Canada 337 199 248 193 977 112 424 536

Europe, Middle East and North Africa 1,341 830 1,003 870 4,044 990 1,379 2,369

Asia Pacific 375 397 398 235 1,405 355 499 854

Corporate and Other (291) (372) (497) (255) (1,415) (278) (207) (485)

Consolidated 4,466 3,017 2,928 2,245 12,656 3,363 6,082 9,445

2025 2026

1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Full Year 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD

EFFECTIVE INCOME TAX RATES

Alaska* 29.8 % 26.0 % 32.0 % 14.3 % 27.0 % 23.8 % 23.3 % 23.5 %

Lower 48 20.0 % 21.5 % 21.7 % 19.7 % 20.8 % 21.9 % 21.9 % 21.9 %

Canada 24.1 % 25.2 % 24.1 % 23.2 % 24.1 % 24.2 % 24.5 % 24.4 %

Europe, Middle East and North Africa 68.8 % 71.4 % 67.4 % 72.4 % 69.7 % 73.2 % 74.9 % 74.2 %

Asia Pacific 17.1 % 16.8 % 22.5 % 7.5 % 16.9 % 17.0 % 22.0 % 20.0 %

Corporate and Other 12.7 % 24.9 % 5.8 % 46.4 % 19.6 % 42.8 % (11.0) % 19.8 %

Consolidated 36.2 % 34.7 % 41.0 % 35.8 % 36.9 % 35.1 % 35.4 % 35.3 %

*Alaska including taxes other than income taxes 37.8 % 56.6 % 58.8 % 51.7 % 49.2 % 45.0 % 39.5 % 41.6 %

2025 2026

1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Full Year 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD

$ Millions

EARNINGS BY SEGMENT

Alaska 327 135 130 138 730 294 522 816

Lower 48 1,790 1,399 1,240 835 5,264 1,403 2,584 3,987

Canada 256 149 188 148 741 85 320 405

Europe, Middle East and North Africa 419 237 327 241 1,224 265 346 611

Asia Pacific 311 330 309 217 1,167 295 389 684

Corporate and Other (254) (279) (468) (137) (1,138) (159) (230) (389)

Consolidated 2,849 1,971 1,726 1,442 7,988 2,183 3,931 6,114

SPECIAL ITEMS

Alaska 58 — (26) (11) 21 — — —

Lower 48 93 207 (74) 187 413 — — —

Canada — — (18) 45 27 (122) (58) (180)

Europe, Middle East and North Africa — — (1) (13) (14) — — —

Asia Pacific — — — (5) (5) — — —

Corporate and Other 19 (29) (162) (24) (196) (19) 38 19

Consolidated 170 178 (281) 179 246 (141) (20) (161)

Detailed reconciliation of these items is provided on page 5.

ADJUSTED EARNINGS

Alaska 269 135 156 149 709 294 522 816

Lower 48 1,697 1,192 1,314 648 4,851 1,403 2,584 3,987

Canada 256 149 206 103 714 207 378 585

Europe, Middle East and North Africa 419 237 328 254 1,238 265 346 611

Asia Pacific 311 330 309 222 1,172 295 389 684

Corporate and Other (273) (250) (306) (113) (942) (140) (268) (408)

Consolidated 2,679 1,793 2,007 1,263 7,742 2,324 3,951 6,275

2025 2026

1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Full Year 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD

ADJUSTED EFFECTIVE INCOME TAX RATES

Alaska 30.8 % 26.0 % 30.7 % 15.9 % 27.2 % 23.8 % 23.3 % 23.5 %

Lower 48 22.5 % 21.1 % 21.9 % 18.6 % 21.5 % 21.9 % 21.9 % 21.9 %

Canada 24.1 % 25.2 % 24.1 % 22.7 % 24.1 % 24.2 % 24.4 % 24.3 %

Europe, Middle East and North Africa 68.8 % 71.4 % 67.3 % 72.4 % 69.7 % 73.2 % 74.9 % 74.2 %

Asia Pacific 17.1 % 16.8 % 22.5 % 8.5 % 17.1 % 17.0 % 22.0 % 20.0 %

Corporate and Other 13.4 % 25.3 % (4.7) % 49.8 % 19.3 % 44.8 % (3.8) % 20.3 %

Consolidated 37.9 % 35.6 % 39.0 % 38.1 % 37.7 % 34.5 % 35.3 % 35.0 %

2025 2026

1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Full Year 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD

$ Millions

DETAILED SPECIAL ITEMS

Alaska

Transaction, integration and restructuring expenses — — (34) (16) (50) — — —

Pending claims and settlements 77 — — — 77 — — —

Subtotal before income taxes 77 — (34) (16) 27 — — —

Income tax provision (benefit) 19 — (8) (5) 6 — — —

Total 58 — (26) (11) 21 — — —

Lower 48

Transaction, integration and restructuring expenses (16) (4) (100) (6) (126) — – —

Gain (loss) on asset sales 64 274 — 291 629 — — —

Pending claims and settlements — — — (40) (40) — — —

Subtotal before income taxes 48 270 (100) 245 463 — — —

Income tax provision (benefit) (45) 63 (26) 58 50 — — —

Total 93 207 (74) 187 413 — — —

Canada

Pending claims and settlements — — — — — (83) (76) (159)

Gain (loss) on contingent liability measurement1

— — — 60 60 (78) – (78)

Transaction, integration and restructuring expenses — — (24) (1) (25) — – —

Subtotal before income taxes — — (24) 59 35 (161) (76) (237)

Income tax provision (benefit) — — (6) 14 8 (39) (18) (57)

Total — — (18) 45 27 (122) (58) (180)

Europe, Middle East and North Africa

Transaction, integration and restructuring expenses — — (2) (45) (47) — — —

Income tax provision (benefit) — — (1) (32) (33) — — —

Total — — (1) (13) (14) — — —

Asia Pacific

Transaction, integration and restructuring expenses — — — (8) (8) — – —

Income tax provision (benefit) — — — (3) (3) — — —

Total — — — (5) (5) — — —

Corporate and Other

Pending claims and settlements 46 — — — 46 — 46 46

Transaction, integration and restructuring expenses (37) (54) (117) (27) (235) (15) (32) (47)

Other corporate charges — — (82) — (82) — — —

Gain (loss) on interest rate hedge2

15 18 (6) (9) 18 (9) 37 28

Gain (loss) on asset sales — — — 6 6 — — —

Subtotal before income taxes 24 (36) (205) (30) (247) (24) 51 27

Income tax provision (benefit) 5 (7) (43) (6) (51) (5) 13 8

Total 19 (29) (162) (24) (196) (19) 38 19

Total Company 170 178 (281) 179 246 (141) (20) (161)

1Related to our Surmont acquisition.

2Interest rate hedging gain (loss) from PALNG Phase 1 investment.

2025 2026

1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Full Year 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD

$ Millions

CONSOLIDATED BALANCE SHEET

Assets

Cash and cash equivalents 6,309 4,901 5,260 6,497 6,497 5,877 6,574 6,574

Short-term investments 926 439 996 484 484 486 1,118 1,118

Accounts and notes receivable 6,400 5,701 5,744 5,813 5,813 7,050 6,957 6,957

Inventories 1,844 1,897 1,721 1,873 1,873 1,910 1,879 1,879

Prepaid expenses and other current assets 1,427 1,001 2,163 865 865 906 2,667 2,667

Total current assets 16,906 13,939 15,884 15,532 15,532 16,229 19,195 19,195

Investments and long-term receivables 10,008 10,361 10,074 10,185 10,185 10,320 10,345 10,345

Net properties, plants and equipment 94,316 95,242 93,498 93,239 93,239 93,141 91,248 91,248

Other assets 3,024 3,057 3,016 2,983 2,983 3,035 3,473 3,473

Total assets 124,254 122,599 122,472 121,939 121,939 122,725 124,261 124,261

Liabilities

Accounts payable 7,349 6,517 6,245 6,218 6,218 7,017 6,764 6,764

Short-term debt 608 414 1,016 1,020 1,020 1,065 462 462

Accrued income and other taxes 2,919 1,742 1,939 1,835 1,835 2,129 2,540 2,540

Employee benefit obligations 652 710 1,020 1,136 1,136 505 593 593

Other accruals 1,801 1,603 1,789 1,763 1,763 1,870 2,093 2,093

Total current liabilities 13,329 10,986 12,009 11,972 11,972 12,586 12,452 12,452

Long-term debt 23,176 23,115 22,466 22,424 22,424 22,262 22,828 22,828

Asset retirement obligations and accrued

environmental costs 8,146 8,225 8,264 8,214 8,214 8,366 8,404 8,404

Deferred income taxes 11,483 11,766 12,109 12,237 12,237 12,389 12,387 12,387

Employee benefit obligations 999 999 950 969 969 944 933 933

Other liabilities and deferred credits 1,883 1,936 1,751 1,636 1,636 1,637 1,908 1,908

Total liabilities 59,016 57,027 57,549 57,452 57,452 58,184 58,912 58,912

Equity

Common stock issued

Par value 23 23 23 23 23 23 23 23

Capital in excess of par 77,554 77,643 77,701 77,728 77,728 77,761 77,832 77,832

Treasury stock (72,666) (73,899) (75,186) (76,217) (76,217) (77,231) (79,251) (79,251)

Accumulated other comprehensive income (loss) (6,394) (5,902) (6,074) (5,911) (5,911) (6,028) (6,176) (6,176)

Retained earnings 66,721 67,707 68,459 68,864 68,864 70,016 72,921 72,921

Total equity 65,238 65,572 64,923 64,487 64,487 64,541 65,349 65,349

Total liabilities and equity 124,254 122,599 122,472 121,939 121,939 122,725 124,261 124,261

2025 2026

$ Millions 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Full Year 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD

CASH FLOW INFORMATION

Cash flows from operating activities

Net income (loss) 2,849 1,971 1,726 1,442 7,988 2,183 3,931 6,114

Depreciation, depletion and amortization 2,746 2,838 2,917 2,999 11,500 2,906 2,983 5,889

Impairments 1 1 10 14 26 19 2 21

Dry hole costs and leasehold impairments 61 24 20 76 181 34 22 56

Accretion on discounted liabilities 94 95 94 95 378 97 99 196

Deferred taxes (71) 149 354 117 549 102 47 149

Distributions more (less) than income from equity

affiliates (19) (93) 389 (77) 200 7 103 110

(Gain) loss on dispositions (79) (317) (3) (332) (731) (5) (14) (19)

Other (115) 53 (141) (16) (219) 44 3 47

Net working capital changes 648 (1,236) 512 — (76) (1,092) 258 (834)

Net cash provided by operating activities 6,115 3,485 5,878 4,318 19,796 4,295 7,434 11,729

Cash flows from investing activities

Capital expenditures and investments (3,378) (3,286) (2,866) (3,023) (12,553) (2,948) (3,024) (5,972)

Working capital changes associated with investing

activities 827 (276) (63) 58 546 162 (8) 154

Proceeds from asset dispositions 635 706 291 1,616 3,248 9 181 190

Net sales (purchases) of investments (400) 392 (548) 501 (55) (30) (622) (652)

Other (30) 3 7 (2) (22) (1) (38) (39)

Net cash used in investing activities (2,346) (2,461) (3,179) (850) (8,836) (2,808) (3,511) (6,319)

Cash flows from financing activities

Net issuance (repayment) of debt (547) (259) (45) (62) (913) (114) (61) (175)

Issuance of company common stock (52) (3) (10) (35) (100) (35) (4) (39)

Repurchase of company common stock (1,500) (1,222) (1,274) (1,022) (5,018) (1,006) (2,000) (3,006)

Dividends paid (998) (984) (975) (1,038) (3,995) (1,032) (1,025) (2,057)

Other (40) (15) (20) (1) (76) 1 (80) (79)

Net cash used in financing activities (3,137) (2,483) (2,324) (2,158) (10,102) (2,186) (3,170) (5,356)

Effect of exchange rate changes 83 65 (2) 7 153 29 (34) (5)

Net change in cash, cash equivalents and restricted cash 715 (1,394) 373 1,317 1,011 (670) 719 49

Cash, cash equivalents and restricted cash at beginning of period 5,905 6,620 5,226 5,599 5,905 6,916 6,246 6,916

Cash, cash equivalents and restricted cash at end of period 6,620 5,226 5,599 6,916 6,916 6,246 6,965 6,965

Restricted cash is included in the "Other assets" and "Prepaid expenses and other current assets" lines of our Consolidated Balance Sheet.

CAPITAL EXPENDITURES AND INVESTMENTS

Alaska 1,046 986 753 822 3,607 949 912 1,861

Lower 48 1,814 1,704 1,571 1,613 6,702 1,505 1,640 3,145

Canada 165 144 152 132 593 121 89 210

Europe, Middle East and North Africa 274 356 293 271 1,194 262 252 514

Asia Pacific 54 64 70 154 342 82 91 173

Corporate and Other 25 32 27 31 115 29 40 69

Total capital expenditures and investments 3,378 3,286 2,866 3,023 12,553 2,948 3,024 5,972

Capitalized interest included in total capital expenditures and investments 80 92 102 110 384 120 132 252

2025 2026

1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Full Year 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD

TOTAL SEGMENTS

Production

Total (MBOED) 2,389 2,391 2,399 2,320 2,375 2,309 2,248 2,278

Crude Oil (MBD)

Consolidated operations 1,153 1,144 1,133 1,102 1,133 1,100 1,092 1,096

Equity affiliates 13 11 13 13 12 11 2 6

Total 1,166 1,155 1,146 1,115 1,145 1,111 1,094 1,102

NGL (MBD)

Consolidated operations 394 418 428 405 411 408 419 414

Equity affiliates 8 6 8 8 8 7 1 4

Total 402 424 436 413 419 415 420 418

Bitumen (MBD)

Consolidated operations 143 144 123 123 133 118 115 117

Total 143 144 123 123 133 118 115 117

Natural Gas (MMCFD)

Consolidated operations 2,840 2,855 2,941 2,796 2,859 2,822 2,845 2,834

Equity affiliates 1,230 1,150 1,226 1,220 1,206 1,166 865 1,015

Total 4,070 4,005 4,167 4,016 4,065 3,988 3,710 3,848

Industry Prices

Crude Oil ($/BBL)

WTI 71.42 63.74 64.93 59.14 64.81 71.93 92.79 82.36

WCS 58.75 53.52 54.54 47.95 53.69 57.76 78.16 67.96

Brent dated 75.66 67.82 69.07 63.69 69.06 80.61 104.52 92.57

JCC ($/BBL) 78.31 78.84 74.92 72.20 76.07 71.72 67.14 69.43

Natural Gas ($/MMBTU)

Henry Hub first of month 3.65 3.44 3.07 3.55 3.43 5.05 2.90 3.98

Average Realized Prices

Total ($/BOE) 53.34 45.77 46.44 42.46 47.01 50.36 62.33 56.37

Crude Oil ($/BBL)

Consolidated operations 71.61 64.21 66.12 60.15 65.58 73.52 99.47 86.70

Equity affiliates 75.57 65.87 67.56 66.47 68.94 68.79 66.95 68.46

Total 71.65 64.23 66.13 60.22 65.62 73.47 99.40 86.60

NGL ($/BBL)

Consolidated operations 24.86 20.51 18.71 18.59 20.59 20.06 24.43 22.29

Equity affiliates 52.34 48.93 44.39 40.10 46.20 46.27 45.20 45.97

Total 25.40 20.98 19.20 19.02 21.07 20.42 24.54 22.51

Bitumen ($/BBL)

Consolidated operations 45.29 39.43 41.58 36.52 40.74 50.37 61.01 55.80

Total 45.29 39.43 41.58 36.52 40.74 50.37 61.01 55.80

Natural Gas ($/MCF)

Consolidated operations 4.76 2.99 3.11 2.74 3.40 3.34 1.60 2.47

Equity affiliates 7.56 6.91 7.00 5.87 6.83 5.87 5.62 5.76

Total 5.62 4.16 4.28 3.72 4.44 4.09 2.58 3.36

2025 2026

1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Full Year 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD

Exploration Expenses ($ Millions)

Dry holes 43 6 — 41 90 9 4 13

Leasehold impairment 18 18 20 35 91 25 18 43

Total noncash expenses 61 24 20 76 181 34 22 56

Other (G&A, G&G and lease rentals) 56 57 51 62 226 75 53 128

Total exploration expenses 117 81 71 138 407 109 75 184

U.S. exploration expenses 42 55 47 66 210 86 56 142

International exploration expenses 75 26 24 72 197 23 19 42

DD&A ($ Millions)

Alaska 355 361 327 356 1,399 352 346 698

Lower 48 1,904 2,003 2,079 2,135 8,121 2,051 2,147 4,198

Canada 131 143 142 140 556 152 133 285

Europe, Middle East and North Africa 219 198 245 250 912 239 241 480

Asia Pacific 119 118 113 110 460 103 107 210

Corporate and Other 18 15 11 8 52 9 9 18

Total DD&A 2,746 2,838 2,917 2,999 11,500 2,906 2,983 5,889

2025 2026

1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Full Year 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD

PRODUCTION

Crude Oil (MBD)

Consolidated operations

Alaska 184 182 164 178 177 176 169 172

Lower 48 753 761 761 722 749 731 732 732

Canada 17 20 17 15 17 16 11 14

Norway 68 54 66 64 63 58 52 55

Libya 60 59 60 60 60 54 61 58

Equatorial Guinea 8 7 8 8 8 8 8 8

Europe, Middle East and North Africa 136 120 134 132 131 121 122 121

China 36 34 32 32 34 36 36 36

Malaysia 27 27 25 23 25 20 22 21

Asia Pacific 63 61 57 55 59 56 58 57

Total consolidated operations 1,153 1,144 1,133 1,102 1,133 1,100 1,092 1,096

Equity affiliates 13 11 13 13 12 11 2 6

Total 1,166 1,155 1,146 1,115 1,145 1,111 1,094 1,102

NGL (MBD)

Consolidated operations

Alaska 16 15 12 15 15 15 14 15

Lower 48 363 389 401 375 382 377 392 385

Canada 6 6 7 7 6 7 6 6

Norway 4 3 3 3 3 3 2 3

Equatorial Guinea 5 5 5 5 5 5 5 5

Europe, Middle East and North Africa 9 8 8 8 8 8 8 8

Total consolidated operations 394 418 428 405 411 408 419 414

Equity affiliates 8 6 8 8 8 7 1 4

Total 402 424 436 413 419 415 420 418

Bitumen (MBD)

Canada 143 144 123 123 133 118 115 117

Total 143 144 123 123 133 118 115 117

Natural Gas (MMCFD)

Consolidated operations

Alaska 48 48 36 34 41 25 14 20

Lower 48 2,080 2,146 2,198 2,050 2,119 2,067 2,126 2,097

Canada 109 124 134 133 125 131 117 124

Norway 353 302 324 340 330 332 321 327

Libya 30 31 33 33 32 36 36 36

Equatorial Guinea 155 150 149 141 149 157 156 156

Europe, Middle East and North Africa 538 483 506 514 511 525 514 519

Malaysia 65 54 67 65 63 74 75 75

Asia Pacific 65 54 67 65 63 74 75 75

Total consolidated operations 2,840 2,855 2,941 2,796 2,859 2,822 2,845 2,834

Equity affiliates 1,230 1,150 1,226 1,220 1,206 1,166 865 1,015

Total 4,070 4,005 4,167 4,016 4,065 3,988 3,710 3,848

Total (MBOED)

Consolidated operations

Alaska 208 205 182 199 199 195 185 190

Lower 48 1,462 1,508 1,528 1,439 1,484 1,453 1,479 1,466

Canada 184 191 169 167 177 164 152 158

Norway 131 107 123 124 121 116 108 112

Libya 65 64 66 65 65 60 67 64

Equatorial Guinea 39 37 38 36 38 40 39 39

Europe, Middle East and North Africa 235 208 227 225 224 216 215 216

China 36 34 32 32 34 36 36 36

Malaysia 38 36 36 34 36 33 34 33

Asia Pacific 74 70 68 66 70 69 70 69

Total consolidated operations 2,163 2,182 2,174 2,096 2,154 2,096 2,101 2,099

Equity affiliates 226 209 225 224 221 212 147 179

Total 2,389 2,391 2,399 2,320 2,375 2,309 2,248 2,278

2025 2026

1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Full Year 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD

AVERAGE REALIZED PRICES

Crude Oil ($/BBL)

Consolidated operations

Alaska 76.58 70.87 72.72 66.63 71.79 81.77 108.49 94.49

Lower 48 69.47 61.90 63.71 57.46 63.18 70.30 96.24 83.65

Canada 62.41 55.48 55.80 46.92 55.35 64.13 87.10 73.73

Norway 75.80 68.78 70.89 66.27 70.52 75.47 105.48 91.26

Libya 75.45 68.59 70.10 63.76 69.40 83.94 105.29 94.24

Equatorial Guinea 59.91 52.66 43.47 50.34 52.81 44.71 85.20 73.04

Europe, Middle East and North Africa 74.60 67.48 69.46 64.17 68.95 77.71 103.26 91.05

China 74.65 68.03 70.05 63.52 69.33 79.87 104.51 92.21

Malaysia 79.69 71.54 73.95 68.47 73.32 83.48 115.82 101.23

Asia Pacific 76.64 69.65 71.72 65.68 71.05 81.14 108.99 95.58

Total consolidated operations 71.61 64.21 66.12 60.15 65.58 73.52 99.47 86.70

Equity affiliates 75.57 65.87 67.56 66.47 68.94 68.79 66.95 68.46

Total 71.65 64.23 66.13 60.22 65.62 73.47 99.40 86.60

NGL ($/BBL)

Consolidated operations

Lower 48 24.84 20.52 18.81 18.76 20.64 19.82 24.30 22.12

Canada 27.96 20.63 20.98 20.94 22.54 29.33 30.25 29.73

Norway 45.58 39.02 39.00 30.15 41.39 48.72 72.73 58.48

Equatorial Guinea 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00

Europe, Middle East and North Africa 23.76 20.24 10.09 4.29 16.53 22.46 26.57 24.37

Total consolidated operations 24.86 20.51 18.71 18.59 20.59 20.06 24.43 22.29

Equity affiliates 52.34 48.93 44.39 40.10 46.20 46.27 45.20 45.97

Total 25.40 20.98 19.20 19.02 21.07 20.42 24.54 22.51

Bitumen ($/BBL)

Canada 45.29 39.43 41.58 36.52 40.74 50.37 61.01 55.80

Total 45.29 39.43 41.58 36.52 40.74 50.37 61.01 55.80

Natural Gas ($/MCF)

Consolidated operations

Alaska 3.87 3.80 3.86 3.75 3.81 3.73 3.29 3.51

Lower 48 2.65 1.60 1.62 1.09 1.74 1.19 (1.44) (0.15)

Canada 1.35 0.71 0.37 1.69 1.02 1.68 0.79 1.25

Norway 14.86 11.65 11.22 10.43 12.08 13.40 16.03 14.68

Libya 5.68 5.64 4.98 4.79 5.25 4.98 4.64 4.81

Equatorial Guinea 11.10 7.41 9.50 8.24 9.30 10.02 13.65 11.62

Europe, Middle East and North Africa 13.16 10.21 10.31 9.47 10.87 11.71 14.49 13.03

Malaysia 3.67 3.70 3.60 3.41 3.59 3.34 3.34 3.34

Asia Pacific 3.67 3.70 3.60 3.41 3.59 3.34 3.34 3.34

Total consolidated operations 4.76 2.99 3.11 2.74 3.40 3.34 1.60 2.47

Equity affiliates 7.56 6.91 7.00 5.87 6.83 5.87 5.62 5.76

Total 5.62 4.16 4.28 3.72 4.44 4.09 2.58 3.36

2025 2026

1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Full Year 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD

CORPORATE AND OTHER

Corporate and Other Earnings (Loss) ($ Millions) (254) (279) (468) (137) (1,138) (159) (230) (389)

Detail of Corporate and Other Earnings (Loss), net of tax ($ Millions)

Net interest expense (111) (139) (152) (92) (494) (78) (84) (162)

Corporate G&A expenses (110) (147) (163) (66) (486) (97) (110) (207)

Technology* (18) (22) (88) (16) (144) (7) (18) (25)

Other (15) 29 (65) 37 (14) 23 (18) 5

Total (254) (279) (468) (137) (1,138) (159) (230) (389)

*Includes investment in new technologies or businesses outside of our normal scope of operations and licensing revenues.

Corporate and Other Interest Expense, before-tax ($ Millions)

Incurred interest (285) (324) (325) (305) (1,239) (318) (314) (632)

Capitalized interest* 80 92 102 110 384 120 132 252

Interest and debt expense (205) (232) (223) (195) (855) (198) (182) (380)

Interest income 74 65 60 104 303 109 80 189

Net Interest Expense (131) (167) (163) (91) (552) (89) (102) (191)

*Capitalized interest represents before-tax interest from external borrowings which is capitalized on major projects with an expected construction period of one year or longer.

Debt

Total debt ($ Millions) 23,784 23,529 23,482 23,444 23,444 23,327 23,290 23,290

Debt-to-capital ratio (%) 27 % 26 % 27 % 27 % 27 % 27 % 26 % 26 %

Equity ($ Millions) 65,238 65,572 64,923 64,487 64,487 64,541 65,349 65,349

Certain totals and percentages may differ from the sum of the underlying components due to rounding.

REFERENCE

Commonly Used Abbreviations

Earnings Net Income (loss) Attributable to ConocoPhillips

DD&A Depreciation, Depletion and Amortization

G&G Geological and Geophysical

G&A General and Administrative

JCC Japan Crude Cocktail

LNG Liquefied Natural Gas

NGLs Natural Gas Liquids

WCS Western Canadian Select

WTI West Texas Intermediate

Units of Measurement

BBL Barrel

BOE Barrel of Oil Equivalent

MMBBL Million of Barrels

MBD Thousand of Barrels per Day

MBOED Thousand of Barrels of Oil Equivalent per Day

MCF Thousand Cubic Feet

MMBTU Million British Thermal Units

MMCFD Million Cubic Feet per Day

GRAPHIC

Filename: conocophillipslogo23.jpg · Sequence: 8

Binary file (166001 bytes)

Download conocophillipslogo23.jpg

XML — IDEA: XBRL DOCUMENT

XML

Filename: R1.htm · Sequence: 10

v3.26.1

Cover

Aug. 06, 2026

Cover [Abstract]

Document Type

8-K

Document Period End Date

Aug. 06, 2026

Entity Registrant Name

ConocoPhillips

Entity Incorporation, State or Country Code

Entity File Number

001-32395

Entity Tax Identification Number

01-0562944

Entity Address, Address Line One

925 N. Eldridge Parkway

Entity Address, City or Town

Houston

Entity Address, State or Province

Entity Address, Postal Zip Code

77079

City Area Code

281

Local Phone Number

293-1000

Written Communications

false

Soliciting Material

false

Pre-commencement Tender Offer

false

Pre-commencement Issuer Tender Offer

false

Entity Emerging Growth Company

false

Entity Central Index Key

0001163165

Amendment Flag

false

Document Information [Line Items]

Entity Registrant Name

ConocoPhillips

Entity Emerging Growth Company

false

Common Stock, $.01 Par Value

Document Information [Line Items]

Title of 12(b) Security

Common Stock, $.01 Par Value

Trading Symbol

COP

Security Exchange Name

NYSE

7% Debentures due 2029

Document Information [Line Items]

Title of 12(b) Security

7% Debentures due 2029

Trading Symbol

CUSIP-718507BK1

Security Exchange Name

NYSE

- Definition

Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.

+ References

No definition available.

+ Details

Name:

dei_AmendmentFlag

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Area code of city

+ References

No definition available.

+ Details

Name:

dei_CityAreaCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Cover page.

+ References

No definition available.

+ Details

Name:

dei_CoverAbstract

Namespace Prefix:

dei_

Data Type:

xbrli:stringItemType

Balance Type:

Period Type:

duration

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

No definition available.

+ Details

Name:

dei_DocumentInformationLineItems

Namespace Prefix:

dei_

Data Type:

xbrli:stringItemType

Balance Type:

Period Type:

duration

- Definition

For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.

+ References

No definition available.

+ Details

Name:

dei_DocumentPeriodEndDate

Namespace Prefix:

dei_

Data Type:

xbrli:dateItemType

Balance Type:

Period Type:

duration

- Definition

The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.

+ References

No definition available.

+ Details

Name:

dei_DocumentType

Namespace Prefix:

dei_

Data Type:

dei:submissionTypeItemType

Balance Type:

Period Type:

duration

- Definition

Address Line 1 such as Attn, Building Name, Street Name

+ References

No definition available.

+ Details

Name:

dei_EntityAddressAddressLine1

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Name of the City or Town

+ References

No definition available.

+ Details

Name:

dei_EntityAddressCityOrTown

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Code for the postal or zip code

+ References

No definition available.

+ Details

Name:

dei_EntityAddressPostalZipCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Name of the state or province.

+ References

No definition available.

+ Details

Name:

dei_EntityAddressStateOrProvince

Namespace Prefix:

dei_

Data Type:

dei:stateOrProvinceItemType

Balance Type:

Period Type:

duration

- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityCentralIndexKey

Namespace Prefix:

dei_

Data Type:

dei:centralIndexKeyItemType

Balance Type:

Period Type:

duration

- Definition

Indicate if registrant meets the emerging growth company criteria.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityEmergingGrowthCompany

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

+ References

No definition available.

+ Details

Name:

dei_EntityFileNumber

Namespace Prefix:

dei_

Data Type:

dei:fileNumberItemType

Balance Type:

Period Type:

duration

- Definition

Two-character EDGAR code representing the state or country of incorporation.

+ References

No definition available.

+ Details

Name:

dei_EntityIncorporationStateCountryCode

Namespace Prefix:

dei_

Data Type:

dei:edgarStateCountryItemType

Balance Type:

Period Type:

duration

- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityRegistrantName

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityTaxIdentificationNumber

Namespace Prefix:

dei_

Data Type:

dei:employerIdItemType

Balance Type:

Period Type:

duration

- Definition

Local phone number for entity.

+ References

No definition available.

+ Details

Name:

dei_LocalPhoneNumber

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

+ Details

Name:

dei_PreCommencementIssuerTenderOffer

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

+ Details

Name:

dei_PreCommencementTenderOffer

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Title of a 12(b) registered security.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

+ Details

Name:

dei_Security12bTitle

Namespace Prefix:

dei_

Data Type:

dei:securityTitleItemType

Balance Type:

Period Type:

duration

- Definition

Name of the Exchange on which a security is registered.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

+ Details

Name:

dei_SecurityExchangeName

Namespace Prefix:

dei_

Data Type:

dei:edgarExchangeCodeItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

+ Details

Name:

dei_SolicitingMaterial

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Trading symbol of an instrument as listed on an exchange.

+ References

No definition available.

+ Details

Name:

dei_TradingSymbol

Namespace Prefix:

dei_

Data Type:

dei:tradingSymbolItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

+ Details

Name:

dei_WrittenCommunications

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Details

Name:

us-gaap_StatementClassOfStockAxis=us-gaap_CommonStockMember

Namespace Prefix:

Data Type:

Balance Type:

Period Type:

- Details

Name:

us-gaap_StatementClassOfStockAxis=cop_SevenPercentDebenturesDueTwentyTwentyNineMember

Namespace Prefix:

Data Type:

Balance Type:

Period Type: