Attached files
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8-K - CONOCOPHILLIPS 8-K - CONOCOPHILLIPS | a50247756.htm |
EX-99.1 - EXHIBIT 99.1 - CONOCOPHILLIPS | a50247756ex99_1.htm |
Exhibit 99.2
CONSOLIDATED INCOME STATEMENT
Millions of Dollars | ||||||||||||||||||
2011 | 2012 | |||||||||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | |||||||||
Revenues and Other Income | ||||||||||||||||||
Sales and other operating revenues* | 56,530 | 65,627 | 62,784 | 59,872 | 244,813 | 56,132 | 56,132 | |||||||||||
Equity in earnings of affiliates | 1,017 | 1,160 | 1,298 | 602 | 4,077 | 1,220 | 1,220 | |||||||||||
Gain on dispositions | 616 | 78 | (480 | ) | 1,793 | 2,007 | 942 | 942 | ||||||||||
Other income | 84 | 96 | 27 | 122 | 329 | 60 | 60 | |||||||||||
Total Revenues and Other Income | 58,247 | 66,961 | 63,629 | 62,389 | 251,226 | 58,354 | 58,354 | |||||||||||
Costs and Expenses | ||||||||||||||||||
Purchased crude oil, natural gas and products | 42,376 | 50,133 | 47,597 | 45,761 | 185,867 | 41,889 | 41,889 | |||||||||||
Production and operating expenses | 2,628 | 2,606 | 2,768 | 2,768 | 10,770 | 2,696 | 2,696 | |||||||||||
Selling, general and administrative expenses | 499 | 514 | 466 | 599 | 2,078 | 685 | 685 | |||||||||||
Exploration expenses | 176 | 264 | 266 | 360 | 1,066 | 679 | 679 | |||||||||||
Depreciation, depletion and amortization | 2,070 | 2,075 | 1,870 | 1,919 | 7,934 | 1,838 | 1,838 | |||||||||||
Impairments | - | 2 | 486 | 304 | 792 | 259 | 259 | |||||||||||
Taxes other than income taxes* | 4,364 | 4,830 | 4,579 | 4,534 | 18,307 | 4,521 | 4,521 | |||||||||||
Accretion on discounted liabilities | 112 | 115 | 114 | 114 | 455 | 114 | 114 | |||||||||||
Interest and debt expense | 262 | 247 | 235 | 228 | 972 | 209 | 209 | |||||||||||
Foreign currency transaction (gains) losses | (36 | ) | (17 | ) | 68 | (31 | ) | (16 | ) | (11 | ) | (11 | ) | |||||
Total Costs and Expenses | 52,451 | 60,769 | 58,449 | 56,556 | 228,225 | 52,879 | 52,879 | |||||||||||
Income before income taxes | 5,796 | 6,192 | 5,180 | 5,833 | 23,001 | 5,475 | 5,475 | |||||||||||
Provision for income taxes | 2,754 | 2,773 | 2,549 | 2,423 | 10,499 | 2,520 | 2,520 | |||||||||||
Net Income | 3,042 | 3,419 | 2,631 | 3,410 | 12,502 | 2,955 | 2,955 | |||||||||||
Less: net income attributable to | ||||||||||||||||||
noncontrolling interests | (14 | ) | (17 | ) | (15 | ) | (20 | ) | (66 | ) | (18 | ) | (18 | ) | ||||
Net Income Attributable to ConocoPhillips | 3,028 | 3,402 | 2,616 | 3,390 | 12,436 | 2,937 | 2,937 | |||||||||||
*Includes excise taxes on petroleum products sales: | 3,382 | 3,554 | 3,596 | 3,422 | 13,954 | 3,321 | 3,321 | |||||||||||
Net Income Attributable to ConocoPhillips | ||||||||||||||||||
Per Share of Common Stock (dollars) | ||||||||||||||||||
Basic | 2.11 | 2.43 | 1.93 | 2.58 | 9.04 | 2.29 | 2.29 | |||||||||||
Diluted | 2.09 | 2.41 | 1.91 | 2.56 | 8.97 | 2.27 | 2.27 | |||||||||||
Average Common Shares Outstanding (in thousands) | ||||||||||||||||||
Basic | 1,432,285 | 1,399,473 | 1,357,710 | 1,312,184 | 1,375,035 | 1,283,493 | 1,283,493 | |||||||||||
Diluted | 1,445,477 | 1,412,147 | 1,369,562 | 1,322,773 | 1,387,100 | 1,293,104 | 1,293,104 |
SUMMARY OF INCOME (LOSS) ATTRIBUTABLE TO CONOCOPHILLIPS BY SEGMENT | ||||||||||||||||||
Millions of Dollars | ||||||||||||||||||
2011 | 2012 | |||||||||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | |||||||||
U.S. E&P | 863 | 817 | 816 | 758 | 3,254 | 870 | 870 | |||||||||||
International E&P | 1,489 | 1,707 | 946 | 846 | 4,988 | 1,678 | 1,678 | |||||||||||
Total E&P | 2,352 | 2,524 | 1,762 | 1,604 | 8,242 | 2,548 | 2,548 | |||||||||||
Midstream | 73 | 130 | 137 | 118 | 458 | 93 | 93 | |||||||||||
U.S. R&M | 402 | 692 | 789 | 1,712 | 3,595 | 415 | 415 | |||||||||||
International R&M | 80 | 74 | - | 2 | 156 | 37 | 37 | |||||||||||
Total R&M | 482 | 766 | 789 | 1,714 | 3,751 | 452 | 452 | |||||||||||
LUKOIL Investment | 239 | - | - | - | 239 | - | - | |||||||||||
Chemicals | 193 | 199 | 197 | 156 | 745 | 218 | 218 | |||||||||||
Emerging Businesses | (7 | ) | (14 | ) | (2 | ) | (3 | ) | (26 | ) | (14 | ) | (14 | ) | ||||
Corporate and Other | (304 | ) | (203 | ) | (267 | ) | (199 | ) | (973 | ) | (360 | ) | (360 | ) | ||||
Consolidated | 3,028 | 3,402 | 2,616 | 3,390 | 12,436 | 2,937 | 2,937 |
SUMMARY OF INCOME (LOSS) BEFORE TAXES BY SEGMENT
Millions of Dollars | ||||||||||||||||||
2011 | 2012 | |||||||||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | |||||||||
U.S. E&P | 1,362 | 1,291 | 1,276 | 1,226 | 5,155 | 1,394 | 1,394 | |||||||||||
International E&P | 3,248 | 3,535 | 2,644 | 2,551 | 11,978 | 3,425 | 3,425 | |||||||||||
Total E&P | 4,610 | 4,826 | 3,920 | 3,777 | 17,133 | 4,819 | 4,819 | |||||||||||
Midstream | 111 | 192 | 208 | 183 | 694 | 140 | 140 | |||||||||||
U.S. R&M | 685 | 1,129 | 1,218 | 2,046 | 5,078 | 596 | 596 | |||||||||||
International R&M | 114 | 93 | (94 | ) | 1 | 114 | 80 | 80 | ||||||||||
Total R&M | 799 | 1,222 | 1,124 | 2,047 | 5,192 | 676 | 676 | |||||||||||
LUKOIL Investment | 362 | - | - | - | 362 | - | - | |||||||||||
Chemicals | 260 | 265 | 263 | 182 | 970 | 300 | 300 | |||||||||||
Emerging Businesses | (15 | ) | (25 | ) | (27 | ) | (9 | ) | (76 | ) | (24 | ) | (24 | ) | ||||
Corporate and Other | (331 | ) | (288 | ) | (308 | ) | (347 | ) | (1,274 | ) | (436 | ) | (436 | ) | ||||
Consolidated | 5,796 | 6,192 | 5,180 | 5,833 | 23,001 | 5,475 | 5,475 |
EFFECTIVE TAX RATES | ||||||||||||||||||
2011 | 2012 | |||||||||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | |||||||||
U.S. E&P | 36.6 | % | 36.7 | % | 36.0 | % | 38.3 | % | 36.9 | % | 37.6 | % | 37.6 | % | ||||
International E&P | 53.8 | % | 51.3 | % | 63.7 | % | 66.1 | % | 57.8 | % | 50.6 | % | 50.6 | % | ||||
Total E&P | 48.7 | % | 47.4 | % | 54.7 | % | 57.1 | % | 51.5 | % | 46.8 | % | 46.8 | % | ||||
Midstream | 34.2 | % | 32.3 | % | 33.7 | % | 36.1 | % | 34.0 | % | 33.6 | % | 33.6 | % | ||||
U.S. R&M | 41.0 | % | 38.6 | % | 35.1 | % | 16.2 | % | 29.1 | % | 30.1 | % | 30.1 | % | ||||
International R&M | 30.7 | % | 19.4 | % | 100.0 | % | -100.0 | % | -36.8 | % | 53.8 | % | 53.8 | % | ||||
Total R&M | 39.5 | % | 37.2 | % | 29.7 | % | 16.2 | % | 27.6 | % | 32.8 | % | 32.8 | % | ||||
LUKOIL Investment | 34.0 | % | - | - | - | 34.0 | % | - | - | |||||||||
Chemicals | 25.8 | % | 24.9 | % | 25.1 | % | 14.3 | % | 23.2 | % | 27.3 | % | 27.3 | % | ||||
Emerging Businesses | 53.3 | % | 44.0 | % | 88.9 | % | 66.7 | % | 64.5 | % | 41.7 | % | 41.7 | % | ||||
Corporate and Other | 8.2 | % | 29.5 | % | 13.3 | % | 42.7 | % | 23.6 | % | 17.4 | % | 17.4 | % | ||||
Consolidated | 47.5 | % | 44.8 | % | 49.2 | % | 41.6 | % | 45.6 | % | 46.0 | % | 46.0 | % |
ESTIMATED TAXES PAID | ||||||||||||||||||
Millions of Dollars | ||||||||||||||||||
2011 | 2012 | |||||||||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | |||||||||
Cash income taxes paid | 2,722 | 2,730 | 2,251 | 2,858 | 10,561 | 1,462 | 1,462 | |||||||||||
Taxes other than income taxes | 4,364 | 4,830 | 4,579 | 4,534 | 18,307 | 4,521 | 4,521 | |||||||||||
Less: Excise taxes* | (3,382 | ) | (3,554 | ) | (3,596 | ) | (3,422 | ) | (13,954 | ) | (3,321 | ) | (3,321 | ) | ||||
Estimated Taxes Paid | 3,704 | 4,006 | 3,234 | 3,970 | 14,914 | 2,662 | 2,662 | |||||||||||
*Represents taxes collected by ConocoPhillips and reimbursed to taxing authorities. |
SPECIAL ITEMS INCLUDED IN NET IMOME ATTRIBUTABLE TO CONOCOPHILLIPS (AFTER-TAX)
Millions of Dollars | |||||||||||||||||
2011 | 2012 | ||||||||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | ||||||||
U.S. E&P | |||||||||||||||||
Gain (loss) on asset sales | 151 | (1 | ) | (1 | ) | (3 | ) | 146 | - | - | |||||||
Impairments | - | - | - | (44 | ) | (44 | ) | - | - | ||||||||
Cancelled projects | - | (54 | ) | - | - | (54 | ) | - | - | ||||||||
Total | 151 | (55 | ) | (1 | ) | (47 | ) | 48 | - | - | |||||||
International E&P | |||||||||||||||||
Gain (loss) on asset sales | 4 | 28 | (279 | ) | (12 | ) | (259 | ) | 937 | 937 | |||||||
Impairments | - | - | - | (585 | ) | (585 | ) | (520 | ) | (520 | ) | ||||||
Bohai Bay incident | - | - | (41 | ) | (101 | ) | (142 | ) | - | - | |||||||
International tax law changes | - | - | (109 | ) | - | (109 | ) | - | - | ||||||||
Total | 4 | 28 | (429 | ) | (698 | ) | (1,095 | ) | 417 | 417 | |||||||
Total E&P | 155 | (27 | ) | (430 | ) | (745 | ) | (1,047 | ) | 417 | 417 | ||||||
Midstream | |||||||||||||||||
Total | - | - | - | - | - | - | - | ||||||||||
U.S. R&M | |||||||||||||||||
Gain (loss) on asset sales | 2 | 26 | 6 | 1,545 | 1,579 | 50 | 50 | ||||||||||
Impairments | - | - | (314 | ) | - | (314 | ) | - | - | ||||||||
Cancelled projects | - | - | - | (28 | ) | (28 | ) | - | - | ||||||||
Severance accrual | - | - | (15 | ) | - | (15 | ) | - | - | ||||||||
Total | 2 | 26 | (323 | ) | 1,517 | 1,222 | 50 | 50 | |||||||||
International R&M | |||||||||||||||||
Gain (loss) on asset sales | - | - | (80 | ) | (4 | ) | (84 | ) | - | - | |||||||
Impairments | - | - | (4 | ) | - | (4 | ) | (42 | ) | (42 | ) | ||||||
Total | - | - | (84 | ) | (4 | ) | (88 | ) | (42 | ) | (42 | ) | |||||
Total R&M | 2 | 26 | (407 | ) | 1,513 | 1,134 | 8 | 8 | |||||||||
LUKOIL Investment | |||||||||||||||||
Gain (loss) on asset sales | 237 | - | - | - | 237 | - | - | ||||||||||
Total | 237 | - | - | - | 237 | - | - | ||||||||||
Chemicals | |||||||||||||||||
Total | - | - | - | - | - | - | - | ||||||||||
Emerging Businesses | |||||||||||||||||
Total | - | - | - | - | - | - | - | ||||||||||
Corporate and Other | |||||||||||||||||
Impairments | - | - | - | (20 | ) | (20 | ) | - | - | ||||||||
Repositioning costs | - | - | - | (25 | ) | (25 | ) | (95 | ) | (95 | ) | ||||||
Total | - | - | - | (45 | ) | (45 | ) | (95 | ) | (95 | ) | ||||||
Total Company | 394 | (1 | ) | (837 | ) | 723 | 279 | 330 | 330 |
CASH FLOW INFORMATION
Millions of Dollars | ||||||||||||||||||
2011 | 2012 | |||||||||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | |||||||||
Cash Flows from Operating Activities | ||||||||||||||||||
Net income | 3,042 | 3,419 | 2,631 | 3,410 | 12,502 | 2,955 | 2,955 | |||||||||||
Depreciation, depletion and amortization | 2,070 | 2,075 | 1,870 | 1,919 | 7,934 | 1,838 | 1,838 | |||||||||||
Impairments | - | 2 | 486 | 304 | 792 | 259 | 259 | |||||||||||
Dry hole costs and leasehold impairments | 50 | 89 | 151 | 180 | 470 | 518 | 518 | |||||||||||
Accretion on discounted liabilities | 112 | 115 | 114 | 114 | 455 | 114 | 114 | |||||||||||
Deferred taxes | 87 | 429 | 293 | 478 | 1,287 |
258 |
258 |
|||||||||||
Undistributed equity earnings | (523 | ) | (570 | ) | (299 | ) | 315 | (1,077 | ) | (423 | ) | (423 | ) | |||||
Loss (gain) on dispositions | (616 | ) | (78 | ) | 480 | (1,793 | ) | (2,007 | ) | (942 | ) | (942 | ) | |||||
Other | (185 | ) | (67 | ) | 36 | (143 | ) | (359 | ) | (404 | ) | (404 | ) | |||||
Net working capital changes | (2,090 | ) | 860 | (149 | ) | 1,028 | (351 | ) |
9 |
|
9 |
|
||||||
Net Cash Provided by | ||||||||||||||||||
Operating Activities |
1,947 | 6,274 | 5,613 | 5,812 | 19,646 | 4,182 | 4,182 | |||||||||||
Cash Flows from Investing Activities | ||||||||||||||||||
Capital expenditures and investments | (2,884 | ) | (2,893 | ) | (3,617 | ) | (3,872 | ) | (13,266 | ) | (4,260 | ) | (4,260 | ) | ||||
Proceeds from asset dispositions | 1,787 | 162 | 209 | 2,662 | 4,820 | 1,109 | 1,109 | |||||||||||
Net sales (purchases) of short-term investments | (1,170 | ) | (424 | ) | (29 | ) | 2,023 | 400 | 92 | 92 | ||||||||
Long-term advances to/collections from | ||||||||||||||||||
related parties and other investments | 56 | 472 | 192 | 311 | 1,031 | 49 | 49 | |||||||||||
Net Cash Provided by (Used in) |
||||||||||||||||||
Investing Activities |
(2,211 |
) | (2,683 | ) | (3,245 | ) | 1,124 | (7,015 | ) | (3,010 | ) | (3,010 | ) | |||||
Cash Flows from Financing Activities | ||||||||||||||||||
Net issuance (repayment) of debt | (373 | ) | (19 | ) | (48 | ) | (521 | ) | (961 | ) | 5,740 | 5,740 | ||||||
Change in restricted cash | - | - | - | - | - | (6,050 | ) | (6,050 | ) | |||||||||
Issuance of company common stock | 75 | 24 | 10 | (13 | ) | 96 | 36 | 36 | ||||||||||
Repurchase of company common stock | (1,636 | ) | (3,149 | ) | (3,199 | ) | (3,139 | ) | (11,123 | ) | (1,899 | ) | (1,899 | ) | ||||
Dividends paid on company common stock | (944 | ) | (917 | ) | (900 | ) | (871 | ) | (3,632 | ) | (843 | ) | (843 | ) | ||||
Other | (183 | ) | (174 | ) | (185 | ) | (143 | ) | (685 | ) | (254 | ) | (254 | ) | ||||
Net Cash Used in | ||||||||||||||||||
Financing Activities | (3,061 | ) | (4,235 | ) | (4,322 | ) | (4,687 | ) | (16,305 | ) | (3,270 | ) | (3,270 | ) | ||||
Effect of Exchange Rate Changes | 43 | (23 | ) | (114 | ) | 94 | - | 25 | 25 | |||||||||
Net Change in Cash | ||||||||||||||||||
and Cash Equivalents | (3,282 | ) | (667 | ) | (2,068 | ) | 2,343 | (3,674 | ) | (2,073 | ) | (2,073 | ) | |||||
Cash and cash equivalents | ||||||||||||||||||
at beginning of period | 9,454 | 6,172 | 5,505 | 3,437 | 9,454 | 5,780 | 5,780 | |||||||||||
Cash and Cash Equivalents | ||||||||||||||||||
at End of Period | 6,172 | 5,505 | 3,437 | 5,780 | 5,780 | 3,707 | 3,707 |
CAPITAL PROGRAM | |||||||||||||||
Millions of Dollars | |||||||||||||||
2011 | 2012 | ||||||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | ||||||
E&P | |||||||||||||||
Capital expenditures and investments | 2,692 | 2,627 | 3,313 | 3,373 | 12,005 | 3,981 | 3,981 | ||||||||
Loans and advances | (4 | ) | 7 | 11 | (5 | ) | 9 | (4 | ) | (4 | ) | ||||
Joint venture acquisition obligation--principal | 170 | 173 | 175 | 177 | 695 | 180 | 180 | ||||||||
E&P total | 2,858 | 2,807 | 3,499 | 3,545 | 12,709 | 4,157 | 4,157 | ||||||||
Midstream* | 3 | 1 | 5 | 8 | 17 | 4 | 4 | ||||||||
R&M | |||||||||||||||
Capital expenditures and investments | 156 | 222 | 250 | 366 | 994 | 214 | 214 | ||||||||
Loans and advances | - | - | - | - | - | - | - | ||||||||
R&M total | 156 | 222 | 250 | 366 | 994 | 214 | 214 | ||||||||
LUKOIL Investment* | - | - | - | - | - | - | - | ||||||||
Chemicals* | - | - | - | - | - | - | - | ||||||||
Emerging Businesses* | 6 | 8 | 7 | 9 | 30 | 15 | 15 | ||||||||
Corporate and Other* | 27 | 35 | 42 | 116 | 220 | 46 | 46 | ||||||||
Total Capital Program | 3,050 | 3,073 | 3,803 | 4,044 | 13,970 | 4,436 | 4,436 | ||||||||
*Capital expenditures and investments only. |
E&P
2011 | 2012 | |||||||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | |||||||
E&P Net Income Attributable | ||||||||||||||||
to ConocoPhillips ($ Millions) | 2,352 | 2,524 | 1,762 | 1,604 | 8,242 | 2,548 | 2,548 | |||||||||
Production | ||||||||||||||||
Total, Including Equity Affiliates (MBOE/D) | 1,702 | 1,640 | 1,538 | 1,597 | 1,619 | 1,637 | 1,637 | |||||||||
Crude Oil and Natural Gas Liquids (NGL) (MB/D) | ||||||||||||||||
Consolidated operations | 800 | 758 | 693 | 739 | 747 | 774 | 774 | |||||||||
Equity affiliates | 60 | 56 | 48 | 44 | 52 | 42 | 42 | |||||||||
Total | 860 | 814 | 741 | 783 | 799 | 816 | 816 | |||||||||
Over/(Under) Lifting of Crude Oil (MB/D) | 12 | 9 | 8 | 4 | 7 | (11 | ) | (11 | ) | |||||||
Bitumen (MB/D) | ||||||||||||||||
Consolidated operations | 11 | 8 | 11 | 11 | 10 | 11 | 11 | |||||||||
Equity affiliates | 53 | 59 | 53 | 62 | 57 | 73 | 73 | |||||||||
Total | 64 | 67 | 64 | 73 | 67 | 84 | 84 | |||||||||
Natural Gas (MMCF/D) | ||||||||||||||||
Consolidated operations | 4,162 | 4,031 | 3,918 | 3,985 | 4,024 | 3,917 | 3,917 | |||||||||
Equity affiliates | 507 | 521 | 479 | 462 | 492 | 505 | 505 | |||||||||
Total | 4,669 | 4,552 | 4,397 | 4,447 | 4,516 | 4,422 | 4,422 | |||||||||
Industry Prices (Platt's) | ||||||||||||||||
Crude Oil ($/BBL) | ||||||||||||||||
WTI spot | 93.98 | 102.44 | 89.70 | 94.07 | 95.05 | 102.99 | 102.99 | |||||||||
Brent dated | 104.97 | 117.36 | 113.46 | 109.31 | 111.27 | 118.49 | 118.49 | |||||||||
Natural Gas ($/MMBTU) | ||||||||||||||||
Henry Hub -- First of Month | 4.11 | 4.32 | 4.20 | 3.54 | 4.04 | 2.72 | 2.72 | |||||||||
Average Realized Prices | ||||||||||||||||
Crude Oil and NGL ($/BBL) | ||||||||||||||||
Consolidated operations | 91.30 | 103.91 | 97.10 | 96.44 | 97.12 | 101.23 | 101.23 | |||||||||
Equity affiliates | 94.95 | 103.82 | 99.24 | 96.11 | 98.60 | 107.41 | 107.41 | |||||||||
Total | 91.55 | 103.90 | 97.24 | 96.42 | 97.22 | 101.56 | 101.56 | |||||||||
Bitumen ($/BBL) | ||||||||||||||||
Consolidated operations | 47.94 | 56.91 | 45.79 | 69.04 | 55.16 | 64.95 | 64.95 | |||||||||
Equity affiliates | 56.15 | 67.05 | 60.65 | 70.42 | 63.93 | 60.04 | 60.04 | |||||||||
Total | 54.77 | 65.74 | 58.14 | 70.20 | 62.56 | 60.66 | 60.66 | |||||||||
Natural Gas ($/MCF) | ||||||||||||||||
Consolidated operations | 5.54 | 5.79 | 5.77 | 5.47 | 5.64 | 5.09 | 5.09 | |||||||||
Equity affiliates | 2.59 | 3.28 | 2.85 | 2.83 | 2.89 | 2.58 | 2.58 | |||||||||
Total | 5.22 | 5.50 | 5.45 | 5.19 | 5.34 | 4.80 | 4.80 | |||||||||
Exploration Charges ($ Millions) | ||||||||||||||||
Dry holes | 9 | 48 | 111 | 141 | 309 | 6 | 6 | |||||||||
Leasehold impairment | 41 | 41 | 40 | 39 | 161 | 512 | 512 | |||||||||
Total Noncash Charges | 50 | 89 | 151 | 180 | 470 | 518 | 518 | |||||||||
Other (G&A, G&G and Lease rentals) | 126 | 175 | 115 | 180 | 596 | 161 | 161 | |||||||||
Total Exploration Charges | 176 | 264 | 266 | 360 | 1,066 | 679 | 679 | |||||||||
Depreciation, Depletion and | ||||||||||||||||
Amortization (DD&A) ($ Millions) | 1,830 | 1,829 | 1,625 | 1,657 | 6,941 | 1,599 | 1,599 | |||||||||
Foreign Currency Gains | ||||||||||||||||
(Losses) After-Tax ($ Millions) | (4 | ) | (5 | ) | (24 | ) | 50 | 17 | 2 | 2 |
U.S. E&P
2011 | 2012 | |||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | |||
U.S. E&P Net Income Attributable | ||||||||||||
to ConocoPhillips ($ Millions) | 863 | 817 | 816 | 758 | 3,254 | 870 | 870 | |||||
Alaska ($ Millions) | 549 | 490 | 501 | 443 | 1,983 | 616 | 616 | |||||
Lower 48 ($ Millions) | 314 | 327 | 315 | 315 | 1,271 | 254 | 254 | |||||
Production | ||||||||||||
Total U.S. (MBOE/D) | 629 | 658 | 643 | 681 | 653 | 687 | 687 | |||||
Crude Oil and NGL (MB/D) | ||||||||||||
Alaska | 214 | 223 | 199 | 227 | 215 | 226 | 226 | |||||
Lower 48 | 150 | 160 | 174 | 186 | 168 | 201 | 201 | |||||
Total | 364 | 383 | 373 | 413 | 383 | 427 | 427 | |||||
Over/(Under) Lifting of Crude Oil (MB/D) | 38 | 6 | 11 | (20 | ) | 8 | 27 | 27 | ||||
Natural Gas (MMCF/D) | ||||||||||||
Alaska | 67 | 62 | 56 | 59 | 61 | 59 | 59 | |||||
Lower 48 | 1,522 | 1,589 | 1,561 | 1,547 | 1,556 | 1,502 | 1,502 | |||||
Total | 1,589 | 1,651 | 1,617 | 1,606 | 1,617 | 1,561 | 1,561 | |||||
Average Realized Prices | ||||||||||||
Crude Oil and NGL ($/BBL) | ||||||||||||
Alaska | 95.56 | 113.75 | 107.26 | 108.51 | 105.95 | 112.20 | 112.20 | |||||
Lower 48 | 69.34 | 77.99 | 72.39 | 76.08 | 74.09 | 76.40 | 76.40 | |||||
Total U.S. | 85.36 | 98.43 | 90.95 | 92.47 | 91.77 | 95.71 | 95.71 | |||||
Natural Gas ($/MCF) | ||||||||||||
Alaska | 3.93 | 4.66 | 5.04 | 4.69 | 4.56 | 4.68 | 4.68 | |||||
Lower 48 | 4.11 | 4.22 | 4.15 | 3.48 | 3.99 | 2.65 | 2.65 | |||||
Total U.S. | 4.10 | 4.23 | 4.17 | 3.52 | 4.01 | 2.72 | 2.72 | |||||
Kenai, Alaska LNG Sales | ||||||||||||
Volume (MMCF/D) | 20 | 18 | 45 | 20 | 26 | - | - | |||||
Sales price per MCF | 12.94 | 9.95 | 13.14 | 17.41 | 13.38 | - | - | |||||
U.S. Exploration Charges ($ Millions) | ||||||||||||
Dry holes | 6 | 10 | 36 | 38 | 90 | 6 | 6 | |||||
Leasehold impairment | 22 | 22 | 20 | 22 | 86 | 14 | 14 | |||||
Total Noncash Charges | 28 | 32 | 56 | 60 | 176 | 20 | 20 | |||||
Other (G&A, G&G and Lease rentals) | 41 | 76 | 49 | 54 | 220 | 67 | 67 | |||||
Total U.S. Exploration Charges | 69 | 108 | 105 | 114 | 396 | 87 | 87 | |||||
Alaska Only | 8 | 6 | 5 | 7 | 26 | 9 | 9 | |||||
DD&A ($ Millions) | ||||||||||||
Alaska | 136 | 151 | 134 | 155 | 576 | 135 | 135 | |||||
Lower 48 | 513 | 530 | 551 | 558 | 2,152 | 601 | 601 | |||||
Total U.S. | 649 | 681 | 685 | 713 | 2,728 | 736 | 736 |
INTERNATIONAL E&P
2011 | 2012 | |||||||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | |||||||
International E&P Net Income | ||||||||||||||||
Attributable to ConocoPhillips ($ Millions) | 1,489 | 1,707 | 946 | 846 | 4,988 | 1,678 | 1,678 | |||||||||
Production | ||||||||||||||||
Total, Including Equity Affiliates (MBOE/D) | 1,073 | 982 | 895 | 917 | 966 | 950 | 950 | |||||||||
Crude Oil and NGL (MB/D) | ||||||||||||||||
Consolidated operations | ||||||||||||||||
Canada | 37 | 36 | 37 | 43 | 38 | 38 | 38 | |||||||||
Norway | 131 | 117 | 113 | 119 | 120 | 117 | 117 | |||||||||
United Kingdom | 65 | 63 | 46 | 48 | 55 | 49 | 49 | |||||||||
Australia/Timor-Leste | 32 | 28 | 30 | 28 | 30 | 29 | 29 | |||||||||
China | 77 | 70 | 35 | 26 | 52 | 23 | 23 | |||||||||
Indonesia | 11 | 11 | 12 | 11 | 11 | 16 | 16 | |||||||||
Vietnam | 22 | 19 | 17 | 15 | 18 | 11 | 11 | |||||||||
Algeria | 13 | 13 | 13 | 13 | 13 | 12 | 12 | |||||||||
Libya | 28 | - | - | 4 | 8 | 35 | 35 | |||||||||
Nigeria | 20 | 18 | 17 | 19 | 19 | 17 | 17 | |||||||||
Total consolidated operations | 436 | 375 | 320 | 326 | 364 | 347 | 347 | |||||||||
Equity affiliates | 60 | 56 | 48 | 44 | 52 | 42 | 42 | |||||||||
Total | 496 | 431 | 368 | 370 | 416 | 389 | 389 | |||||||||
Over/(Under) Lifting of Crude Oil (MB/D) | (26 | ) | 3 | (3 | ) | 24 | (1 | ) | (38 | ) | (38 | ) | ||||
Bitumen (MB/D) | ||||||||||||||||
Consolidated operations--Canada | 11 | 8 | 11 | 11 | 10 | 11 | 11 | |||||||||
Equity affiliates | 53 | 59 | 53 | 62 | 57 | 73 | 73 | |||||||||
Total | 64 | 67 | 64 | 73 | 67 | 84 | 84 | |||||||||
Natural Gas (MMCF/D) | ||||||||||||||||
Consolidated operations | ||||||||||||||||
Canada | 944 | 947 | 929 | 891 | 928 | 863 | 863 | |||||||||
Norway | 208 | 130 | 130 | 185 | 163 | 195 | 195 | |||||||||
United Kingdom | 543 | 457 | 381 | 472 | 463 | 437 | 437 | |||||||||
Australia/Timor-Leste | 237 | 236 | 253 | 209 | 234 | 249 | 249 | |||||||||
Indonesia | 467 | 445 | 437 | 451 | 450 | 441 | 441 | |||||||||
Vietnam | 16 | 13 | 10 | 7 | 11 | 7 | 7 | |||||||||
Libya | 5 | - | - | 1 | 1 | 3 | 3 | |||||||||
Nigeria | 153 | 152 | 161 | 163 | 157 | 161 | 161 | |||||||||
Total consolidated operations | 2,573 | 2,380 | 2,301 | 2,379 | 2,407 | 2,356 | 2,356 | |||||||||
Equity affiliates | 507 | 521 | 479 | 462 | 492 | 505 | 505 | |||||||||
Total | 3,080 | 2,901 | 2,780 | 2,841 | 2,899 | 2,861 | 2,861 | |||||||||
Darwin, Australia LNG Sales (MMCF/D) | 420 | 410 | 424 | 424 | 420 | 427 | 427 |
INTERNATIONAL E&P (continued)
2011 | 2012 | ||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | ||
Average Realized Prices | |||||||||||
Crude Oil and NGL ($/BBL) | |||||||||||
Consolidated operations | |||||||||||
Canada | 62.27 | 71.06 | 67.51 | 63.86 | 66.07 | 63.98 | 63.98 | ||||
Norway | 104.90 | 116.79 | 112.73 | 108.65 | 110.45 | 120.13 | 120.13 | ||||
United Kingdom | 93.94 | 107.82 | 108.31 | 104.86 | 104.34 | 109.87 | 109.87 | ||||
Australia/Timor-Leste | 91.02 | 100.09 | 94.72 | 90.41 | 94.07 | 103.28 | 103.28 | ||||
China | 100.54 | 116.85 | 114.31 | 114.74 | 109.98 | 122.02 | 122.02 | ||||
Indonesia | 94.31 | 108.04 | 104.13 | 101.25 | 101.96 | 102.72 | 102.72 | ||||
Vietnam | 107.37 | 121.92 | 118.29 | 116.23 | 115.50 | 126.02 | 126.02 | ||||
Algeria | 105.21 | 120.09 | 112.63 | 109.77 | 112.69 | 123.50 | 123.50 | ||||
Libya | 98.30 | - | - | - | 98.30 | 121.68 | 121.68 | ||||
Nigeria | 91.53 | 107.50 | 100.29 | 90.34 | 97.35 | 103.81 | 103.81 | ||||
Total consolidated operations | 96.86 | 109.35 | 104.40 | 100.72 | 102.68 | 109.10 | 109.10 | ||||
Equity affiliates | 94.95 | 103.82 | 99.24 | 96.11 | 98.60 | 107.41 | 107.41 | ||||
Total | 96.62 | 108.62 | 103.70 | 100.17 | 102.16 | 108.90 | 108.90 | ||||
Bitumen ($/BBL) | |||||||||||
Consolidated operations--Canada | 47.94 | 56.91 | 45.79 | 69.04 | 55.16 | 64.95 | 64.95 | ||||
Equity affiliates | 56.15 | 67.05 | 60.65 | 70.42 | 63.93 | 60.04 | 60.04 | ||||
Total | 54.77 | 65.74 | 58.14 | 70.20 | 62.56 | 60.66 | 60.66 | ||||
Natural Gas ($/MCF) | |||||||||||
Consolidated operations | |||||||||||
Canada | 3.59 | 3.74 | 3.56 | 2.93 | 3.46 | 1.98 | 1.98 | ||||
Norway | 9.61 | 10.57 | 9.89 | 10.09 | 10.00 | 10.40 | 10.40 | ||||
United Kingdom | 8.18 | 9.25 | 8.78 | 9.80 | 8.99 | 9.80 | 9.80 | ||||
Australia/Timor-Leste* | 0.81 | 0.90 | 1.16 | 1.12 | 1.00 | 1.10 | 1.10 | ||||
Indonesia | 9.43 | 10.98 | 10.18 | 10.01 | 10.14 | 10.37 | 10.37 | ||||
Vietnam | 1.16 | 1.11 | 1.07 | 1.19 | 1.13 | 1.15 | 1.15 | ||||
Libya | 0.09 | - | - | - | 0.09 | 0.09 | 0.09 | ||||
Nigeria | 2.15 | 2.10 | 2.36 | 2.36 | 2.25 | 2.53 | 2.53 | ||||
Total consolidated operations | 6.43 | 6.86 | 6.88 | 6.78 | 6.73 | 6.65 | 6.65 | ||||
Equity affiliates | 2.59 | 3.28 | 2.85 | 2.83 | 2.89 | 2.58 | 2.58 | ||||
Total | 5.80 | 6.22 | 6.19 | 6.14 | 6.08 | 5.93 | 5.93 | ||||
International Exploration Charges ($ Millions) | |||||||||||
Dry holes | 3 | 38 | 75 | 103 | 219 | - | - | ||||
Leasehold impairment | 19 | 19 | 20 | 17 | 75 | 498 | 498 | ||||
Total Noncash Charges | 22 | 57 | 95 | 120 | 294 | 498 | 498 | ||||
Other (G&A, G&G and Lease rentals) | 85 | 99 | 66 | 126 | 376 | 94 | 94 | ||||
Total International Exploration Charges | 107 | 156 | 161 | 246 | 670 | 592 | 592 | ||||
DD&A ($ Millions) | 1,181 | 1,148 | 940 | 944 | 4,213 | 863 | 863 | ||||
*Excludes transfers to Darwin LNG plant. |
R&M
2011 | 2012 | |||||||||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | |||||||||
R&M Net Income (Loss) Attributable | ||||||||||||||||||
to ConocoPhillips ($ Millions) | 482 | 766 | 789 | 1,714 | 3,751 | 452 | 452 | |||||||||||
United States ($ Millions) | 402 | 692 | 789 | 1,712 | 3,595 | 415 | 415 | |||||||||||
International ($ Millions) | 80 | 74 | - | 2 | 156 | 37 | 37 | |||||||||||
Worldwide - Including Net Share of Equity Affiliates | ||||||||||||||||||
Crude Oil Charge Input (MB/D) | 2,145 | 2,196 | 2,223 | 2,101 | 2,166 | 2,027 | 2,027 | |||||||||||
Total Charge Input (MB/D) | 2,315 | 2,398 | 2,393 | 2,250 | 2,338 | 2,188 | 2,188 | |||||||||||
Crude Oil Capacity Utilization (%) | 89 | % | 91 | % | 92 | % | 94 | % | 92 | % | 91 | % | 91 | % | ||||
Clean Product Yield (%) | 83 | % | 83 | % | 84 | % | 84 | % | 84 | % | 84 | % | 84 | % | ||||
Refined Products Production (MB/D) | ||||||||||||||||||
Gasoline | 986 | 1,013 | 1,003 | 924 | 982 | 897 | 897 | |||||||||||
Distillates | 903 | 932 | 950 | 928 | 928 | 895 | 895 | |||||||||||
Other | 442 | 463 | 445 | 416 | 441 | 416 |
416 |
|||||||||||
Total | 2,331 | 2,408 | 2,398 | 2,268 | 2,351 | 2,208 |
2,208 |
|||||||||||
Petroleum Products Sales (MB/D) | ||||||||||||||||||
Gasoline | 1,270 | 1,409 | 1,300 | 1,256 | 1,309 | 1,131 | 1,131 | |||||||||||
Distillates | 1,203 | 1,177 | 1,250 | 1,245 | 1,219 | 1,135 | 1,135 | |||||||||||
Other | 587 | 568 | 639 | 607 | 600 | 452 | 452 | |||||||||||
Total | 3,060 | 3,154 | 3,189 | 3,108 | 3,128 | 2,718 | 2,718 | |||||||||||
Market Indicators | ||||||||||||||||||
U.S. East Coast Crack Spread ($/BBL) | 19.09 | 25.30 | 33.70 | 22.94 | 25.26 | 25.79 | 25.79 | |||||||||||
U.S. Gulf Coast Crack Spread ($/BBL) | 17.25 | 25.25 | 31.76 | 19.37 | 23.41 | 24.22 | 24.22 | |||||||||||
U.S. Group Central Crack Spread ($/BBL) | 18.95 | 27.26 | 34.12 | 20.75 | 25.27 | 21.33 | 21.33 | |||||||||||
U.S. West Coast Crack Spread ($/BBL) | 16.14 | 15.86 | 11.78 | 10.74 | 13.63 | 16.63 | 16.63 | |||||||||||
U.S. Weighted 3:2:1 Crack Spread ($/BBL) | 17.76 | 23.70 | 28.47 | 18.16 | 22.02 | 22.01 | 22.01 | |||||||||||
NW Europe Crack Spread ($/BBL) | 12.31 | 11.88 | 13.09 | 13.97 | 12.81 | 12.73 | 12.73 | |||||||||||
Singapore 3:1:2 Crack Spread ($/BBL) | 16.33 | 17.75 | 17.53 | 15.12 | 16.68 | 15.67 | 15.67 | |||||||||||
Realized Margins | ||||||||||||||||||
Refining Margin ($/BBL) | ||||||||||||||||||
U.S. | 10.05 | 10.55 | 13.70 | 7.21 | 10.45 | 10.65 | 10.65 | |||||||||||
International | 8.28 | 4.21 | 6.50 | 4.91 | 5.95 | 7.29 | 7.29 | |||||||||||
Integrated Margin ($/BBL) | ||||||||||||||||||
U.S. | 10.16 | 11.70 | 14.79 | 7.86 | 11.21 | 10.87 | 10.87 | |||||||||||
International | 9.34 | 7.75 | 10.78 | 7.91 | 8.92 | 8.82 | 8.82 | |||||||||||
DD&A ($ Millions) | 207 | 213 | 209 | 228 | 857 | 204 | 204 | |||||||||||
Foreign Currency Gains | ||||||||||||||||||
(Losses) After-Tax ($ Millions) | 31 | 22 | (16 | ) | (14 | ) | 23 | 16 | 16 | |||||||||
Turnaround Expense ($ Millions) | 81 | 82 | 44 | 90 | 297 | 176 | 176 |
R&M (continued)
2011 | 2012 | |||||||||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | |||||||||
U.S. R&M | ||||||||||||||||||
Eastern U.S. | ||||||||||||||||||
Crude Oil Charge Input (MB/D) | 392 | 376 | 382 | 236 | 346 | 236 | 236 | |||||||||||
Total Charge Input (MB/D) | 443 | 432 | 419 | 263 | 389 | 267 | 267 | |||||||||||
Crude Oil Capacity Utilization (%) | 93 | % | 89 | % | 90 | % | 99 | % | 92 | % | 99 | % | 99 | % | ||||
Clean Product Yield (%) | 91 | % | 90 | % | 90 | % | 92 | % | 91 | % | 92 | % | 92 | % | ||||
U.S. Gulf Coast | ||||||||||||||||||
Crude Oil Charge Input (MB/D) | 614 | 664 | 668 | 684 | 658 | 600 | 600 | |||||||||||
Total Charge Input (MB/D) | 685 | 758 | 754 | 759 | 739 | 672 | 672 | |||||||||||
Crude Oil Capacity Utilization (%) | 84 | % | 91 | % | 91 | % | 93 | % | 90 | % | 82 | % | 82 | % | ||||
Clean Product Yield (%) | 80 | % | 82 | % | 82 | % | 82 | % | 82 | % | 80 | % | 80 | % | ||||
Western U.S. | ||||||||||||||||||
Crude Oil Charge Input (MB/D) | 371 | 353 | 396 | 394 | 378 | 353 | 353 | |||||||||||
Total Charge Input (MB/D) | 397 | 381 | 420 | 419 | 404 | 381 | 381 | |||||||||||
Crude Oil Capacity Utilization (%) | 89 | % | 85 | % | 95 | % | 94 | % | 91 | % | 85 | % | 85 | % | ||||
Clean Product Yield (%) | 83 | % | 81 | % | 84 | % | 85 | % | 84 | % | 87 | % | 87 | % | ||||
Central U.S. - Consolidated | ||||||||||||||||||
Crude Oil Charge Input (MB/D) | 177 | 189 | 175 | 157 | 174 | 199 | 199 | |||||||||||
Total Charge Input (MB/D) | 179 | 191 | 177 | 159 | 176 | 202 | 202 | |||||||||||
Crude Oil Capacity Utilization (%) | 94 | % | 101 | % | 94 | % | 84 | % | 93 | % | 106 | % | 106 | % | ||||
Clean Product Yield (%) | 91 | % | 93 | % | 91 | % | 92 | % | 92 | % | 93 | % | 93 | % | ||||
Central U.S. - Equity Affiliates - Net Share* | ||||||||||||||||||
Crude Oil Charge Input (MB/D) | 181 | 203 | 206 | 212 | 201 | 222 | 222 | |||||||||||
Total Charge Input (MB/D) | 194 | 213 | 216 | 222 | 211 | 232 | 232 | |||||||||||
Crude Oil Capacity Utilization (%) | 80 | % | 90 | % | 91 | % | 94 | % | 89 | % | 98 | % | 98 | % | ||||
Clean Product Yield (%) | 80 | % | 80 | % | 81 | % | 84 | % | 82 | % | 84 | % | 84 | % | ||||
Total U.S. | ||||||||||||||||||
Crude Oil Charge Input (MB/D) | 1,735 | 1,785 | 1,827 | 1,683 | 1,757 | 1,610 | 1,610 | |||||||||||
Total Charge Input (MB/D) | 1,898 | 1,975 | 1,986 | 1,822 | 1,919 | 1,754 | 1,754 | |||||||||||
Crude Oil Capacity Utilization (%) | 87 | % | 90 | % | 92 | % | 93 | % | 91 | % | 89 | % | 89 | % | ||||
Clean Product Yield (%) | 85 | % | 84 | % | 85 | % | 85 | % | 85 | % | 85 | % | 85 | % | ||||
Refined Products Production (MB/D) | ||||||||||||||||||
Gasoline | 853 | 886 | 878 | 786 | 851 | 754 | 754 | |||||||||||
Distillates | 717 | 738 | 765 | 728 | 737 | 696 | 696 | |||||||||||
Other | 344 | 362 | 348 | 325 | 344 | 325 |
325 |
|||||||||||
Total | 1,914 | 1,986 | 1,991 | 1,839 | 1,932 | 1,775 |
1,775 |
|||||||||||
Petroleum Products Sales (MB/D) | ||||||||||||||||||
Gasoline | 1,099 | 1,218 | 1,134 | 1,066 | 1,129 | 958 | 958 | |||||||||||
Distillates | 852 | 861 | 907 | 914 | 884 | 837 | 837 | |||||||||||
Other | 437 | 385 | 402 | 381 | 401 | 298 | 298 | |||||||||||
Total | 2,388 | 2,464 | 2,443 | 2,361 | 2,414 | 2,093 | 2,093 | |||||||||||
*Represents 50 percent share of the Borger Refinery and Wood River Refinery. | ||||||||||||||||||
International R&M | ||||||||||||||||||
International - Consolidated* | ||||||||||||||||||
Crude Oil Charge Input (MB/D) | 272 | 281 | 283 | 278 | 279 | 288 | 288 | |||||||||||
Total Charge Input (MB/D) | 279 | 293 | 293 | 288 | 288 | 302 | 302 | |||||||||||
Crude Oil Capacity Utilization (%) | 93 | % | 96 | % | 97 | % | 95 | % | 95 | % | 99 | % | 99 | % | ||||
Clean Product Yield (%) | 75 | % | 76 | % | 77 | % | 80 | % | 77 | % | 78 | % | 78 | % | ||||
International - Equity Affiliates - Net Share** | ||||||||||||||||||
Crude Oil Charge Input (MB/D) | 138 | 130 | 113 | 140 | 130 | 129 | 129 | |||||||||||
Total Charge Input (MB/D) | 138 | 130 | 114 | 140 | 131 | 132 | 132 | |||||||||||
Crude Oil Capacity Utilization (%) | 103 | % | 97 | % | 84 | % | 104 | % | 97 | % | 93 | % | 93 | % | ||||
Clean Product Yield (%) | 84 | % | 79 | % | 78 | % | 82 | % | 81 | % | 84 | % | 84 | % | ||||
Total International | ||||||||||||||||||
Crude Oil Charge Input (MB/D) | 410 | 411 | 396 | 418 | 409 | 417 | 417 | |||||||||||
Total Charge Input (MB/D) | 417 | 423 | 407 | 428 | 419 | 434 | 434 | |||||||||||
Crude Oil Capacity Utilization (%) | 96 | % | 96 | % | 93 | % | 98 | % | 96 | % | 97 | % | 97 | % | ||||
Clean Product Yield (%) | 78 | % | 77 | % | 77 | % | 80 | % | 78 | % | 80 | % | 80 | % | ||||
Refined Products Production (MB/D) | ||||||||||||||||||
Gasoline | 133 | 127 | 125 | 138 | 131 | 143 | 143 | |||||||||||
Distillates | 186 | 194 | 185 | 200 | 191 | 199 | 199 | |||||||||||
Other | 98 | 101 | 97 | 91 | 97 | 91 | 91 | |||||||||||
Total | 417 | 422 | 407 | 429 | 419 | 433 | 433 | |||||||||||
Petroleum Products Sales (MB/D) | ||||||||||||||||||
Gasoline | 171 | 191 | 166 | 190 | 180 | 173 | 173 | |||||||||||
Distillates | 351 | 316 | 343 | 331 | 335 | 298 | 298 | |||||||||||
Other | 150 | 183 | 237 | 226 | 199 | 154 | 154 | |||||||||||
Total | 672 | 690 | 746 | 747 | 714 | 625 | 625 | |||||||||||
*Represents our Humber Refinery in the United Kingdom and Whitegate Refinery in Ireland. | ||||||||||||||||||
**Represents 18.75 percent interest in a refinery complex in Karlsruhe, Germany, and 47 percent interest in a refinery in Melaka, Malaysia. |
LUKOIL INVESTMENT
2011 | 2012 | ||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | ||
LUKOIL Investment Net Income | |||||||||||
Attributable to ConocoPhillips ($ Millions) | 239 | - | - | - | 239 | - | - | ||||
Upstream | |||||||||||
Production | |||||||||||
Net crude oil production (MB/D) | - | - | - | - | - | - | - | ||||
Net natural gas production (MMCF/D) | - | - | - | - | - | - | - | ||||
Total (MBOE/D) | - | - | - | - | - | - | - | ||||
Industry Prices | |||||||||||
Crude Oil ($/BBL) | |||||||||||
Urals crude (CIF Mediterranean) (one-quarter lag) | - | - | - | - | - | - | - | ||||
Downstream | |||||||||||
Refinery Throughput | |||||||||||
Crude Processed (MB/D) | - | - | - | - | - | - | - | ||||
Foreign Currency Gains | |||||||||||
(Losses) After-Tax ($ Millions) | 2 | - | - | - | 2 | - | - |
MIDSTREAM
2011 | 2012 | ||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | ||
Midstream Net Income Attributable | |||||||||||
to ConocoPhillips ($ Millions) | 73 | 130 | 137 | 118 | 458 | 93 | 93 | ||||
U.S. Equity Affiliate ($ Millions)* | 48 | 86 | 83 | 57 | 274 | 56 | 56 | ||||
NGL Extracted (MB/D) | |||||||||||
Equity Affiliates | |||||||||||
United States* | 179 | 189 | 196 | 203 | 192 | 206 | 206 | ||||
International | 9 | 9 | 8 | 8 | 8 | 7 | 7 | ||||
Total | 188 | 198 | 204 | 211 | 200 | 213 | 213 | ||||
*Represents 50 percent interest in DCP Midstream. | |||||||||||
NGL Fractionated (MB/D) | |||||||||||
United States* | 121 | 127 | 132 | 129 | 127 | 121 | 121 | ||||
International | 18 | 17 | 16 | 14 | 17 | 15 | 15 | ||||
Total | 139 | 144 | 148 | 143 | 144 | 136 | 136 | ||||
*Excludes DCP Midstream. | |||||||||||
Product Prices | |||||||||||
Weighted Average NGL ($/BBL)* | |||||||||||
Consolidated | 53.55 | 59.14 | 59.26 | 59.19 | 57.79 | 52.44 | 52.44 | ||||
DCP Midstream | 47.64 | 52.24 | 52.09 | 50.61 | 50.64 | 42.10 | 42.10 | ||||
*Prices are based on index prices from the Mont Belvieu and Conway market hubs that are weighted by natural gas liquids component and location mix. | |||||||||||
DD&A ($ Millions) | 2 | 1 | 2 | 1 | 6 | 1 | 1 |
CHEMICALS
2011 | 2012 | ||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | ||
Chemicals Net Income Attributable to ConocoPhillips ($ Millions) |
193 | 199 | 197 | 156 | 745 | 218 | 218 | ||||
Industry Margins (Cents/Lb)* | |||||||||||
Ethylene industry cash margin | 16.7 | 26.9 | 23.3 | 11.3 | 19.6 | 31.1 | 31.1 | ||||
HDPE industry contract sales margin | 25.1 | 21.1 | 17.9 | 19.7 | 20.9 | 19.3 | 19.3 | ||||
Benzene domestic contract margin | 7.3 | 2.3 | 1.7 | 1.0 | 3.1 | 4.1 | 4.1 | ||||
*Prices, economics and views expressed by CMAI are strictly the opinion of CMAI and Purvin & Gertz and are based on information collected within the public sector and on assessments by CMAI and Purvin & Gertz staff utilizing reasonable care consistent with normal industry practice. CMAI and Purvin & Gertz make no guarantee or warranty and assume no liability as to their use. |
EMERGING BUSINESSES
2011 | 2012 | |||||||||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | |||||||||
Emerging Businesses Net Income (Loss) | ||||||||||||||||||
Attributable to ConocoPhillips ($ Millions) | (7 | ) | (14 | ) | (2 | ) | (3 | ) | (26 | ) | (14 | ) | (14 | ) | ||||
Detail of Net Income (Loss) | ||||||||||||||||||
Attributable to ConocoPhillips ($ Millions) | ||||||||||||||||||
Power | 22 | 17 | 32 | 44 | 115 | 23 | 23 | |||||||||||
Other | (29 | ) | (31 | ) | (34 | ) | (47 | ) | (141 | ) | (37 | ) | (37 | ) | ||||
Total | (7 | ) | (14 | ) | (2 | ) | (3 | ) | (26 | ) | (14 | ) | (14 | ) | ||||
Foreign Currency Gains | ||||||||||||||||||
(Losses) After-Tax ($ Millions) | - | - | - | - | - | - | - |
CORPORATE AND OTHER
2011 | 2012 | |||||||||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | |||||||||
Corporate and Other Net Income (Loss) | ||||||||||||||||||
Attributable to ConocoPhillips ($ Millions) | (304 | ) | (203 | ) | (267 | ) | (199 | ) | (973 | ) | (360 | ) | (360 | ) | ||||
Detail of Net Income (Loss) | ||||||||||||||||||
Attributable to ConocoPhillips ($ Millions) | ||||||||||||||||||
Net interest expense | (181 | ) | (165 | ) | (166 | ) | (155 | ) | (667 | ) | (156 | ) | (156 | ) | ||||
Corporate overhead | (63 | ) | (46 | ) | (34 | ) | (56 | ) | (199 | ) | (78 | ) | (78 | ) | ||||
Repositioning costs* | - | - | - | (25 | ) | (25 | ) | (95 | ) | (95 | ) | |||||||
Other | (60 | ) | 8 | (67 | ) | 37 | (82 | ) | (31 | ) | (31 | ) | ||||||
Total | (304 | ) | (203 | ) | (267 | ) | (199 | ) | (973 | ) | (360 | ) | (360 | ) | ||||
Before-Tax Net Interest Expense ($ Millions) | ||||||||||||||||||
Interest expense | (342 | ) | (330 | ) | (331 | ) | (336 | ) | (1,339 | ) | (327 | ) | (327 | ) | ||||
Capitalized interest | 112 | 115 | 125 | 136 | 488 | 146 | 146 | |||||||||||
Interest revenue | 39 | 27 | 19 | 23 | 108 | 13 | 13 | |||||||||||
Premium on early debt retirement | - | - | - | - | - | - | - | |||||||||||
Total | (191 | ) | (188 | ) | (187 | ) | (177 | ) | (743 | ) | (168 | ) | (168 | ) | ||||
Foreign Currency Gains | ||||||||||||||||||
(Losses) After-Tax ($ Millions) | (12 | ) | 19 | (32 | ) | 45 | 20 | (10 | ) | (10 | ) | |||||||
Debt | ||||||||||||||||||
Total Debt ($ Millions) | 23,209 | 23,196 | 23,150 | 22,623 | 22,623 | 28,360 | 28,360 | |||||||||||
Debt-to-Capital Ratio (%) | 25 | % | 25 | % | 26 | % | 26 | % | 26 | % | 30 | % | 30 | % | ||||
Equity ($ Millions) | 70,521 | 70,578 | 66,326 | 65,734 | 65,734 | 67,042 | 67,042 | |||||||||||
*First quarter of 2012 includes $10 million of interest expense. |