ConocoPhillips Analysis
What is ConocoPhillips?
Leading global exploration and production company
Employees
10001+
Founded
2012
Industry
Fossil Fuels
HQ Full Address
925 N Eldridge Pkwy, Houston, Texas 77079, United States
Market Share
2.09%
Product Features & Capabilities
- Exploration and production of crude oil and natural gas
- LNG technology and licensing
- Commercial gas and power solutions
- Safety data sheets and reporting
- Sustainability reporting and metrics.
Other Considerations
Operates in 15 countries with significant assets; Committed to achieving net-zero operational emissions by 2050; Recognized for sustainability initiatives and community engagement.
Sustainability Initiatives
- Climate Risk Management - The company has a comprehensive governance framework that integrates sustainability risks and trends into its business strategy and decision-making processes. They focus on managing climate-related risks and have established a strategy to mitigate these risks.
- Low Carbon Technologies - ConocoPhillips is committed to exploring and investing in low carbon technologies to address climate change-related risks and energy transition opportunities.
- Sustainable Development Policy - They prioritize sustainability issues, establish action plans with clear goals, and monitor performance to deliver on their sustainability commitments.
- Methane Emissions Reduction - The company has set a medium-term target to achieve near-zero methane emissions intensity by 2030 and is a participant in the Oil and Gas Methane Partnership 2.0 Initiative.
- Community Engagement and Charitable Contributions - In 2023, ConocoPhillips contributed $12.1 million to support charitable causes, focusing on math education and conservation.
- Environmental Stewardship - They implement various environmental stewardship initiatives, including recycling and waste management practices at their operational sites. For more detailed information, you can refer to their official sustainability page and reports.
Recent News
Recent developments related to ConocoPhillips in the energy field include the completion of their acquisition of Marathon Oil Corporation, which was announced about four months ago. This acquisition is part of ConocoPhillips' strategy to expand its operations and enhance its portfolio in the oil and gas sector. Additionally, the company has been involved in legal actions against the Biden administration regarding drilling bans in Alaska, reflecting ongoing regulatory challenges in the energy sector. Furthermore, ConocoPhillips has reported significant earnings and has increased its quarterly dividend, indicating strong financial performance.
Competitors
- EOG Resources (EOG) - A large-cap energy company known for its strong profitability, focusing on the exploration and production of crude oil and natural gas.
- Diamondback Energy (FANG) - Engaged in oil and gas exploration and production, with a focus on growth and profitability.
- EQT (EQT) - Primarily involved in natural gas production, known for its substantial market presence in the energy sector.
- Devon Energy (DVN) - Focuses on oil and natural gas exploration and production, emphasizing shareholder returns.
- Range Resources (RRC) - Engaged in the exploration and production of natural gas, primarily in the Appalachian region.
- Matador Resources (MTDR) - Involved in the exploration and production of oil and natural gas, focusing on the Delaware Basin.
- Comstock Resources (CRK) - Primarily focused on the exploration and production of oil and natural gas in the Haynesville Shale.
- SM Energy (SM) - Engaged in the exploration and production of oil and natural gas, with operations primarily in the Permian Basin.
- Kosmos Energy (KOS) - Focuses on oil and gas exploration and production, particularly in offshore regions.
- SandRidge Energy (SD) - Involved in the exploration and production of oil and natural gas, focusing on the Mid-Continent region.
- Exxon Mobil Corp - A major player in the oil industry with a significant global presence.
- Shell plc - One of the largest publicly owned oil and gas companies, operating in over 70 countries.
- TotalEnergies SE - A French multinational company involved in the oil and gas industry, handling operations from exploration to marketing.
- Chevron Corp - A US-based multinational energy corporation involved in oil, natural gas, and geothermal energy.
- BP - A multinational corporation focused on environmental sustainability while achieving business objectives.
