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ConocoPhillips oil and gas exploration summary



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Report summary

ConocoPhillips is phasing out deepwater exploration part of an investment shift towards flexible unconventional development and exploration in shorter cycle more competitive basins. North American unconventionals lie at the heart of the company s strategy and the company posted a strong organic performance in the key liquids rich plays. Further upside is likely from legacy Permian acreage. A higher impact conventional exploration strategy 2008 2015 yielded large volumes but value was elusive as resource commercialisation proved difficult. Here we analyse ConocoPhillips' conventional and unconventional exploration strategy and its exploration performance over the period 2006 2015 including investment well activity volume discovered discovery cost reserve replacement ratio value creation and rates of return. The report includes a detailed data download.

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    ConocoPhillips oil and gas exploration summary

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Table of contents

  • Executive summary
  • Strategy
  • Investment and costs
  • Exploration
  • Reserves and resources
  • Production
  • Valuation

Tables and charts

This report includes 24 images and tables including:


  • Exploration & appraisal spend and reinvestment
  • Exploration & appraisal spend by water depth
  • Exploration & appraisal spend by basin maturity
  • Discovery costs by water depth
  • Volumes discovered by year
  • Volumes discovered by water depth
  • Volumes discovered by country
  • Volumes discovered by basin
  • Production from new field discoveries and organic unconventionals, and as a proportion of all future production
  • Executive summary: Image 1
  • Net active exploration acreage by water depth
  • Net active conventional exploration acreage by country
  • Exploration wells drilled and spend per well
  • Exploration success rates
  • Full cycle value creation by year, including unconventionals
  • Exploration returns by year, including unconventionals
  • Costs and development value by reserve category
  • Exploration returns by water depth


  • Top 40 discoveries (2006 to 2015)
  • Key organic unconventional plays
  • Full-cycle economics
  • Ten year performance summary
  • SWOT grid
  • Gross conventional exploration & appraisal wells by basin and sector

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