Profile: ConocoPhillips (COP.N)
ConocoPhillips (ConocoPhillips), incorporated on November 16, 2001, is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas and liquefied natural gas (LNG) and natural gas liquids on a worldwide basis. The Company operates through six operating segments, which are primarily defined by geographic region: Alaska; Lower 48; Canada; Europe and North Africa; Asia Pacific and Middle East, and Other International. The Company's continuing operations are producing in the United States, Norway, the United Kingdom, Canada, Australia, Timor-Leste, Indonesia, China, Malaysia and Qatar. Its portfolio includes North American unconventional assets and oil sands assets in Canada; assets in North America, Europe, Asia and Australia; several international developments, and an inventory of global conventional and unconventional exploration prospects.
The Alaska segment primarily explores for, produces, transports and markets crude oil, natural gas liquids, natural gas and LNG. The Company holds interest in over two oil fields located on Alaska's North Slope: Prudhoe Bay and Kuparuk. It also has an operating interest in the Alpine Field, located on the Western North Slope. The Greater Prudhoe Area includes the Prudhoe Bay Field and over five satellite fields, as well as the Greater Point McIntyre Area fields. Prudhoe Bay is the site of a waterflood and enhanced oil recovery operation, as well as a gas plant, which processes natural gas for reinjection into the reservoir. Prudhoe Bay's satellites are Aurora, Borealis, Polaris, Midnight Sun and Orion, while the Point McIntyre, Niakuk, Raven and Lisburne fields are part of the Greater Point McIntyre Area.
The Company operates the Greater Kuparuk Area, which consists of the Kuparuk Field and four satellite fields: Tarn, Tabasco, Meltwater and West Sak. Kuparuk is located approximately 40 miles west of Prudhoe Bay. Field installations include approximately three central production facilities, which separate oil, natural gas and water, as well as a separate seawater treatment plant. Development drilling at Kuparuk consists of rotary-drilled wells and horizontal multi-laterals from existing well bores utilizing coiled-tubing drilling. The Drill Site 2S is located in the southwestern area of the Kuparuk Field. The 1H Northeast West Sak (NEWS) oil development is targeting the West Sak reservoir in the Kuparuk River Unit. On the Western North Slope, the Company operates the Colville River Unit, which includes the Alpine Field and three satellite fields: Nanuq, Fiord and Qannik. Alpine is located approximately 35 miles west of Kuparuk.
The Company operates the North Cook Inlet Unit, the Beluga River Unit and the Kenai LNG Facility in the Cook Inlet Area. The Kenai LNG Facility includes a plant that has a capacity to produce approximately 1.6 million-tons-per-year, as well as docking and loading facilities for LNG tankers. The Company holds interest in the Point Thomson Unit, which is located approximately 60 miles east of Prudhoe Bay. The Company also holds interest in Trans-Alaska Pipeline System (TAPS), and also has ownership interests in the Alpine, Kuparuk and Oliktok pipelines on the North Slope. The Company transports the petroleum liquids produced on the North Slope to south-central Alaska through an approximately 800-mile pipeline that is part of TAPS. Its subsidiary, Polar Tankers, Inc., manages the marine transportation of its North Slope production, using over five of its double-hulled tankers, and charters third-party vessels as necessary. The tankers primarily deliver oil from Valdez, Alaska, to refineries on the west coast of the United States.
The Lower 48 segment consists of operations located in the United States Lower 48 states and exploration activities in the Gulf of Mexico. The Lower 48 business is organized within approximately three regions covering the Gulf Coast, Mid-Continent and Rockies. The Company's unconventional holdings total approximately 2.7 million net acres in the following areas: over 900,000 net acres in the San Juan Basin, located in northwestern New Mexico and southwestern Colorado; approximately 617,000 net acres in the Bakken, located in North Dakota and eastern Montana; over 216,000 net acres in the Eagle Ford, located in South Texas; approximately 109,000 net acres in the Niobrara, located in northeastern Colorado; approximately 102,000 net acres in the Permian, located in West Texas and southeastern New Mexico; over 61,000 net acres in the Barnett, located in north central Texas, and over 553,000 net acres in other unconventional exploration plays. The Company holds interest in a portfolio of properties in the Gulf of Mexico consisted of over one operated field and approximately three fields operated, including Magnolia Field, unitized Ursa Field, Princess Field and unitized K2 Field.
The Company's Canadian operations consist of natural gas fields in western Canada and oil sands developments in the Athabasca Region of northeastern Alberta. The Company's operations in western Canada extend across Alberta and British Columbia. The Company operates or has ownership interests in approximately 50 natural gas processing plants in the region. The Company invests in opportunities in three development areas: Deep Basin, where the Company holds leasehold rights in over 1.4 million net acres, located in northwest Alberta and northeast British Columbia; Kaybob-Edson, where it holds leasehold rights in over 0.8 million net acres in the Kaybob-Edson Area, located south of the Deep Basin in west-central Alberta, and Clearwater, which is located in west-central Alberta, south of Kaybob-Edson, where the Company holds approximately 0.8 million net acres of leasehold rights.
Europe and North Africa
The Company's Europe and North Africa segment consists of operations and exploration activities in Norway, the United Kingdom and Libya. The Greater Ekofisk Area is located approximately 200 miles offshore Stavanger, Norway in the North Sea, and consists of three producing fields: Ekofisk, Eldfisk and Embla. The Alvheim development is located in the northern part of the North Sea and consists of a floating production, storage and offloading (FPSO) vessel and subsea installations. The Heidrun Field is located in the Norwegian Sea. It holds interest in over five other producing fields in the Norway sector of the North Sea and in the Norwegian Sea, as well as the Aasta Hansteen development. The Company's interests in the East Irish Sea include the Millom, Dalton and Calder fields. The Company holds interest in the Clair Field, located in the Atlantic Margin. Clair Ridge is the second phase of development for the Clair Field and consists of a 36-slot drilling and production facility with a bridge-linked accommodation and utilities platform. It also operates the Teesside oil and Theddlethorpe gas terminals.
Asia Pacific and Middle East
The Asia Pacific and Middle East segment has exploration and production operations in China, Indonesia, Malaysia and Australia; producing operations in Qatar and Timor-Leste, and exploration activities in Brunei. The Company operates and owns Darwin LNG Facility, located at Wickham Point, Darwin. The Bayu-Undan gas condensate field is located in the Timor Sea Joint Petroleum Development Area between Timor-Leste and Australia. The Bayu-Undan natural gas recycle facility processes wet gas; separates, stores and offloads condensate, propane and butane, and re-injects dry gas back into the reservoir. The Bayu-Undan Phase Three Development consists of over two standalone, subsea horizontal wells tied back to the existing drilling, production and processing platform.
The Athena production license (WA-17-L) is located offshore Western Australia and contains part of the Perseus Field, which straddles the boundary with WA-1-L, an adjoining license area. The Company holds interest in the Greater Sunrise gas and condensate field located in the Timor Sea. The Company operates approximately two exploration permits in the Browse Basin, offshore northwest Australia, in which it owns interest in permits, WA-315-P and WA-398-P, of the Greater Poseidon Area. The Company operates over two retention leases in the Bonaparte Basin, offshore northern Australia, where it owns interest in leases, NT/RL5 and NT/RL6. The Company operates over four production sharing contracts (PSCs) in Indonesia: the offshore South Natuna Sea Block B and over three onshore PSCs, the Corridor Block and South Jambi B, both located in South Sumatra, and Kualakurun in Central Kalimantan. It also owns interests in over four deepwater PSCs in Malaysia. Three are located off the eastern Malaysian state of Sabah: Block G, Block J and the Kebabangan Cluster (KBBC). Its fourth PSC, deepwater Block 3E, is located off the Malaysian state of Sarawak.
The Company's Other International segment includes exploration activities in Colombia, Angola and Senegal. The Company holds exploration interest in Block 36 and Block 37. The two blocks total approximately 2.5 million gross acres. The Company also holds interest in over three exploration blocks offshore Senegal. The Company holds interest in Baku-Tbilisi-Ceyhan (BTC), a pipeline, which transports crude oil from the Caspian Region through Azerbaijan, Georgia and Turkey for tanker loadings at the port of Ceyhan. The Company holds interest in the Middle Magdalena Basin block VMM-3, which covers approximately 66,650 net acres. In addition, the Company holds interest in the deep rights in the Santa Isabel Block in the Middle Magdalena Basin, which covers approximately 71,000 net acres. It also holds interest in the VMM27 and VMM28 blocks, in the Middle Magdalena Basin, which are in the process of being relinquished.
600 N Dairy Ashford Rd
HOUSTON TX 77079-1100
Company Web Links
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