North American unconventionals lie at the heart of ConocoPhillips' strategy. This is part of an investment shift towards flexible unconventional development and exploration in shorter-cycle, more competitive basins. The company posted a strong organic performance in the key liquids-rich plays, with excellent returns. A higher-impact conventional exploration strategy 2008-2015 yielded large volumes but value was elusive as resource commercialisation proved difficult. The emergence of a new Alaskan play has improved returns from conventional exploration and there is further upside from existing discoveries and future exploration. In this report, we analyse ConocoPhillips' conventional and unconventional exploration strategy and performance results in 2009-2018. The report includes a detailed data download.