ConocoPhillips Files 2023 Annual Report on Form 10-K

TL;DR

<b>ConocoPhillips has submitted its 2023 annual report (10-K), detailing its financial performance and operations for the fiscal year ending December 31, 2023.</b>

AI Summary

CONOCOPHILLIPS (COP) filed a Annual Report (10-K) with the SEC on February 15, 2024. ConocoPhillips filed its 10-K report for the fiscal year ending December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal executive offices are located at 925 N. Eldridge Parkway, Houston, TX 77079. ConocoPhillips was incorporated in Delaware. The SIC code for ConocoPhillips is 2911 (Petroleum Refining).

Why It Matters

For investors and stakeholders tracking CONOCOPHILLIPS, this filing contains several important signals. This 10-K filing provides a comprehensive overview of ConocoPhillips' financial health, operational activities, and strategic positioning for the past fiscal year, which is crucial for investors and stakeholders to assess the company's performance and future outlook. As a major player in the petroleum refining industry, the details within this report are significant for understanding market dynamics, regulatory compliance, and the company's response to the evolving energy landscape.

Risk Assessment

Risk Level: medium — CONOCOPHILLIPS shows moderate risk based on this filing. The company operates in the volatile oil and gas sector, which is subject to significant price fluctuations and regulatory changes, as evidenced by the numerous risk factors typically disclosed in a 10-K filing for a petroleum refining company.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to understand ConocoPhillips' performance and potential challenges in the current energy market.

Key Numbers

• 2023-12-31 — Fiscal Year End (CONFORMED PERIOD OF REPORT)
• 2024-02-15 — Filing Date (FILED AS OF DATE)
• 2911 — SIC Code (STANDARD INDUSTRIAL CLASSIFICATION)
• DE — State of Incorporation (STATE OF INCORPORATION)

Key Players & Entities

• ConocoPhillips (company) — FILER
• 925 N. Eldridge Parkway (address) — BUSINESS ADDRESS
• Houston (location) — BUSINESS ADDRESS CITY
• TX (state) — BUSINESS ADDRESS STATE
• 77079 (zip_code) — BUSINESS ADDRESS ZIP
• DE (state) — STATE OF INCORPORATION
• 2911 (sic_code) — STANDARD INDUSTRIAL CLASSIFICATION
• 20231231 (date) — CONFORMED PERIOD OF REPORT

FAQ

Industry Context

ConocoPhillips operates within the global energy industry, focusing on exploration, production, and marketing of crude oil, natural gas, and natural gas liquids. The petroleum refining sector is subject to global supply and demand dynamics, geopolitical events, and environmental regulations.

Regulatory Implications

As a major energy company, ConocoPhillips is subject to extensive regulations from various governmental bodies concerning environmental protection, safety standards, and resource extraction. Compliance with these regulations is critical for its operations.

What Investors Should Do

1. Review the consolidated financial statements for the fiscal year ended December 31, 2023.
2. Analyze the 'Risk Factors' section for potential challenges and uncertainties affecting the company.
3. Examine management's discussion and analysis of financial condition and results of operations.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K filing.
• 2024-02-15: Filing Date — Date the 10-K report was officially submitted to the SEC.

Year-Over-Year Comparison

This filing is the annual 10-K report for the fiscal year ending December 31, 2023, providing a comprehensive update compared to previous filings.

Key Financial Figures

• $103 — ed on the closing price on that date of $103.61, was $ 124.0 billion. The registran
• $96 billion — worldwide and had total assets of about $96 billion. Total company production for the year

Filing Documents

• cop-20231231.htm (10-K) — 5358KB
• cop-20231231x10kxex10162.htm (EX-10.16 2) — 88KB
• cop-20231231x10kxex1017.htm (EX-10.17) — 82KB
• cop-20231231x10xkxex10182.htm (EX-10.18 2) — 116KB
• cop-20231231x10xkxex1029.htm (EX-10.29) — 57KB
• cop2023123110k-exhibit21.htm (EX-21) — 33KB
• cop2023123110k-exhibit22.htm (EX-22) — 37KB
• cop2023123110k-exhibit231.htm (EX-23.1) — 9KB
• cop2023123110k-exhibit232.htm (EX-23.2) — 6KB
• cop2023123110k-exhibit311.htm (EX-31.1) — 9KB
• cop2023123110k-exhibit312.htm (EX-31.2) — 9KB
• cop2023123110k-exhibit32.htm (EX-32) — 5KB
• cop-20231231x10kxexhibit972.htm (EX-97.2) — 25KB
• cop2023123110k-exhibit99.htm (EX-99) — 11KB
• cop-20231231_g1.jpg (GRAPHIC) — 162KB
• cop-20231231_g2.jpg (GRAPHIC) — 133KB
• cop-20231231_g3.jpg (GRAPHIC) — 113KB
• cop-20231231_g4.jpg (GRAPHIC) — 94KB
• cop-20231231_g5.jpg (GRAPHIC) — 144KB
• cop-20231231_g6.jpg (GRAPHIC) — 138KB
• cop-20231231_g7.jpg (GRAPHIC) — 138KB
• cop-20231231_g8.jpg (GRAPHIC) — 86KB
• cop-20231231_g9.jpg (GRAPHIC) — 115KB
• 0001163165-24-000010.txt (&nbsp;) — 26133KB
• cop-20231231.xsd (EX-101.SCH) — 140KB
• cop-20231231_cal.xml (EX-101.CAL) — 165KB
• cop-20231231_def.xml (EX-101.DEF) — 819KB
• cop-20231231_lab.xml (EX-101.LAB) — 1685KB
• cop-20231231_pre.xml (EX-101.PRE) — 1220KB
• cop-20231231_htm.xml (XML) — 3781KB

Risk Factors

Risk Factors 20 1B. Unresolved Staff Comments 28 1C. CyberSecurity 28 3.

Legal Proceedings

Legal Proceedings 30 4. Mine Safety Disclosures 30 Information About our Executive Officers 30 Part II 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 32 6. [Reserved] 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 34 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 67 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 70 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 160 9A.

Controls and Procedures

Controls and Procedures 160 9B. Other Information 160 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 160 Part III 10. Directors, Executive Officers and Corporate Governance 161 11.

Executive Compensation

Executive Compensation 161 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 161 13. Certain Relationships and Related Transactions, and Director Independence 161 14. Principal Accounting Fees and Services 161 Part IV 15. Exhibits, Financial Statement Schedules 162

Signatures

Signatures 167 Commonly Used Abbreviations Table of Contents Commonly Used Abbreviations The following industry-specific, accounting and other terms and abbreviations may be commonly used in this report. Currencies Accounting $ or USD U.S. dollar ARO asset retirement obligation CAD Canadian dollar ASC accounting standards codification EUR Euro ASU accounting standards update GBP British pound DD&A depreciation, depletion and NOK Norwegian kroner amortization FASB Financial Accounting Standards Units of Measurement Board BBL barrel FIFO first-in, first-out BCF billion cubic feet G&A general and administrative BOE barrels of oil equivalent GAAP generally accepted accounting MBD thousands of barrels per day principles MCF thousand cubic feet LIFO last-in, first-out MM million NPNS normal purchase normal sale MMBOE million barrels of oil equivalent PP&E properties, plants and equipment MBOED thousand of barrels of oil VIE variable interest entity equivalent per day MMBOED million of barrels of oil Miscellaneous equivalent per day CERCLA Federal Comprehensive MMBTU million British thermal units Environmental Response MMCFD million cubic feet per day Compensation and Liability Act MTPA million tonnes per annum DEI diversity, equity and inclusion EPA Environmental Protection Agency Industry ESG environmental, social and governance BLM Bureau of Land Management EU European Union CBM coalbed methane FERC Federal Energy Regulatory CCS carbon capture and storage Commission E&P exploration and production GHG greenhouse gas FEED front-end engineering and design HSE health, safety and environment FID final investment decision ICC International Chamber of Commerce FPS floating production system ICSID World Bank's International FPSO floating production, storage and Centre for Settlement of offloading Investment Disputes G&G geological and geophysical IRS Internal Revenue Service JOA joint operating agreement OTC over-the-counter LNG liquef

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View this 10-K filing on SEC EDGAR