CONOCOPHILLIPS - FORM 8-K - EX-99.2 - EXHIBIT 99.2 - October 29, 2015

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Exhibit 99.2


Third-Quarter 2015 Detailed Supplemental Information
   
 
2014 2015
1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr   YTD
$ Millions, Except as Indicated
CONSOLIDATED INCOME STATEMENT
 
Revenues and Other Income
Sales and other operating revenues 15,415 13,821 12,080 11,208 52,524 7,716 8,293 7,262 23,271
Equity in earnings of affiliates 572 672 764 521 2,529 205 258 223 686
Gain on dispositions 9 7 4 78 98 52 52 18 122
Other income 52   201   69   44   366   29   57   4       90  
Total Revenues and Other Income 16,048   14,701   12,917   11,851   55,517   8,002   8,660   7,507       24,169  
 
Costs and Expenses
Purchased commodities 7,127 5,495 4,703 4,774 22,099 3,237 3,230 3,269 9,736
Production and operating expenses 1,895 2,030 2,041 2,943 8,909 1,802 1,798 1,834 5,434
Selling, general and administrative expenses 182 218 203 132 735 159 218 293 670
Exploration expenses 296 517 459 773 2,045 482 549 1,061 2,092
Depreciation, depletion and amortization 1,892 2,070 2,096 2,271 8,329 2,131 2,329 2,271 6,731
Impairments 1 17 108 730 856 16 78 24 118
Taxes other than income taxes 651 612 493 332 2,088 224 225 206 655
Accretion on discounted liabilities 117 120 120 127 484 121 122 122 365
Interest and debt expense 171 155 149 173 648 202 210 240 652
Foreign currency transaction (gains) losses 18   7   (8 ) (83 ) (66 ) (16 ) (8 ) (72 )     (96 )
Total Costs and Expenses 12,350   11,241   10,364   12,172   46,127   8,358   8,751   9,248       26,357  
Income (loss) from continuing operations before income taxes 3,698 3,460 2,553 (321 ) 9,390 (356 ) (91 ) (1,741 ) (2,188 )
Provision (benefit) for income taxes 1,581   1,395   904   (297 ) 3,583   (642 ) 73   (685 )     (1,254 )
Income (loss) from continuing operations 2,117 2,065 1,649 (24 ) 5,807 286 (164 ) (1,056 ) (934 )
Income from discontinued operations 20   33   1,078   -   1,131   -   -   -       -  
Net Income (Loss) 2,137 2,098 2,727 (24 ) 6,938 286 (164 ) (1,056 ) (934 )
Less: net income attributable to noncontrolling interests (14 ) (17 ) (23 ) (15 ) (69 ) (14 ) (15 ) (15 )     (44 )
Net Income (Loss) Attributable to ConocoPhillips 2,123   2,081   2,704   (39 ) 6,869   272   (179 ) (1,071 )     (978 )
 
Net Income (Loss) Attributable to ConocoPhillips
Per Share of Common Stock (dollars)
Basic
Continuing operations 1.70 1.65 1.31 (0.03 ) 4.63 0.22 (0.15 ) (0.87 ) (0.80 )
Discontinued operations 0.02   0.03   0.87   -   0.91   -   -   -       -  
Net Income (Loss) Attributable to ConocoPhillips
Per Share of Common Stock 1.72   1.68   2.18   (0.03 ) 5.54   0.22   (0.15 ) (0.87 )     (0.80 )
Diluted
Continuing operations 1.69 1.64 1.31 (0.03 ) 4.60 0.22 (0.15 ) (0.87 ) (0.80 )
Discontinued operations 0.02   0.03   0.86   -   0.91   -   -   -       -  
Net Income (Loss) Attributable to ConocoPhillips
Per Share of Common Stock 1.71   1.67   2.17   (0.03 ) 5.51   0.22   (0.15 ) (0.87 )     (0.80 )
 
Average Common Shares Outstanding (in thousands)
Basic 1,234,968 1,236,057 1,238,234 1,239,975 1,237,325 1,240,791 1,241,026 1,242,125 1,241,319
Diluted 1,242,667   1,245,155   1,247,436   1,239,975   1,245,863   1,245,531   1,241,026   1,242,125       1,241,319  
 
 
INCOME (LOSS) FROM CONTINUING
OPERATIONS BEFORE INCOME TAXES
 
Alaska 930 973 722 497 3,122 225 305 53 583
 
Lower 48 516 434 78 (1,142 ) (114 ) (637 ) (460 ) (1,320 ) (2,417 )
 
Canada 466 241 340 129 1,176 (218 ) (38 ) (211 ) (467 )
 
Europe 1,041 781 633 (163 ) 2,292 187 116 (20 ) 283
 
Asia Pacific and Middle East 1,093 1,233 1,058 818 4,202 572 521 310 1,403
 
Other International (67 ) 99 10 (131 ) (89 ) (160 ) (329 ) (77 ) (566 )
 
Corporate and Other (281 ) (301 ) (288 ) (329 ) (1,199 ) (325 ) (206 ) (476 ) (1,007 )
                       
Consolidated 3,698   3,460   2,553   (321 ) 9,390   (356 ) (91 ) (1,741 )     (2,188 )
 
 
EFFECTIVE INCOME TAX RATES FOR
CONTINUING OPERATIONS
 
Alaska* 35.6 % 35.6 % 34.4 % 31.1 % 34.6 % 35.2 % 36.3 % 1.3 % 32.7 %
 
Lower 48 37.3 % 38.7 % 60.0 % 43.8 % 80.9 % 36.5 % 36.3 % 35.4 % 35.9 %
 
Canada 23.7 % 24.0 % 9.7 % 27.0 % 20.1 % 27.6 % -343.5 % 31.4 % -0.3 %
 
Europe 66.7 % 66.8 % 66.4 % 90.8 % 64.9 % -240.1 % 67.9 % 79.1 % -136.4 %
 
Asia Pacific and Middle East 30.9 % 30.1 % 27.0 % 24.4 % 28.4 % 28.6 % 34.0 % 11.8 % 26.9 %
 
Other International 57.2 % -21.7 % 296.5 % -24.6 % -0.2 % 41.9 % 54.8 % 44.8 % 49.8 %
 
Corporate and Other 16.4 % 16.3 % 55.0 % 21.5 % 27.1 % 23.3 % 36.1 % 28.9 % 28.6 %
                       
Consolidated 42.8 % 40.3 % 35.4 % 92.7 % 38.2 % 179.8 % -81.7 % 39.3 %     57.3 %
*Alaska including taxes other than income taxes. 51.6 % 50.3 % 48.6 % 44.2 % 49.4 % 47.0 % 49.9 % 56.4 % 49.9 %

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2014   2015
1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD
$ Millions
EARNINGS BY SEGMENT
 
Alaska 598 627 473 343 2,041 145 195 53 393
 
Lower 48 324 265 32 (643 ) (22 ) (405 ) (293 ) (852 ) (1,550 )
 
Canada 356 182 307 95 940 (158 ) (166 ) (145 ) (469 )
 
Europe 347 259 213 (15 ) 804 637 37 (4 ) 670
 
Asia Pacific and Middle East 742 845 749 603 2,939 395 328 258 981
 
Other International (29 ) 121 (18 ) (164 ) (90 ) (93 ) (148 ) (43 ) (284 )
 
Corporate and Other (235 ) (251 ) (130 ) (258 ) (874 ) (249 ) (132 ) (338 ) (719 )
 
Discontinued Operations 20 33 1,078 - 1,131 - - - -
                     
Consolidated 2,123   2,081   2,704   (39 ) 6,869   272   (179 ) (1,071 )   (978 )
 
 
SPECIAL ITEMS (AFTER-TAX)
 
Alaska - - - (36 ) (36 ) (1 ) - (10 ) (11 )
 
Lower 48 (122 ) - (151 ) (610 ) (883 ) (16 ) - (389 ) (405 )
 
Canada - (109 ) 47 9 (53 ) (18 ) (106 ) (27 ) (151 )
 
Europe - - - (144 ) (144 ) 551 (34 ) (7 ) 510
 
Asia Pacific and Middle East (28 ) - 30 - 2 (1 ) - (44 ) (45 )
 
Other International - 154 - - 154 - (79 ) (1 ) (80 )
 
Corporate and Other - - 89 - 89 (21 ) (41 ) (127 ) (189 )
 
Discontinued Operations 20 33 1,078 - 1,131 - - - -
                     
Consolidated (130 ) 78   1,093   (781 ) 260   494   (260 ) (605 )   (371 )
 
 
ADJUSTED EARNINGS
 
Alaska 598 627 473 379 2,077 146 195 63 404
 
Lower 48 446 265 183 (33 ) 861 (389 ) (293 ) (463 ) (1,145 )
 
Canada 356 291 260 86 993 (140 ) (60 ) (118 ) (318 )
 
Europe 347 259 213 129 948 86 71 3 160
 
Asia Pacific and Middle East 770 845 719 603 2,937 396 328 302 1,026
 
Other International (29 ) (33 ) (18 ) (164 ) (244 ) (93 ) (69 ) (42 ) (204 )
 
Corporate and Other (235 ) (251 ) (219 ) (258 ) (963 ) (228 ) (91 ) (211 ) (530 )
                     
Consolidated 2,253   2,003   1,611   742   6,609   (222 ) 81   (466 )   (607 )
 
 
ADJUSTED EFFECTIVE INCOME TAX RATES FOR
CONTINUING OPERATIONS
 
Alaska 35.6 % 35.6 % 34.4 % 31.5 % 34.6 % 35.2 % 36.3 % 8.4 % 32.7 %
 
Lower 48 37.0 % 38.7 % 42.7 % 68.1 % 36.5 % 36.5 % 36.4 % 35.2 % 36.0 %
 
Canada 23.7 % 24.3 % 23.5 % 26.5 % 24.1 % 28.0 % 22.9 % 32.3 % 28.8 %
 
Europe 66.7 % 66.8 % 66.4 % 61.1 % 66.0 % 58.3 % 61.7 % -175.3 % 59.3 %
 
Asia Pacific and Middle East 30.1 % 30.1 % 27.1 % 24.4 % 28.3 % 28.6 % 34.0 % 24.3 % 29.3 %
 
Other International 57.2 % 39.3 % 296.5 % -24.6 % -0.1 % 41.8 % 42.0 % 44.7 % 42.5 %
 
Corporate and Other 16.4 % 16.3 % 30.8 % 21.5 % 21.5 % 21.9 % 34.9 % 27.9 % 26.8 %
                     
Consolidated 42.1 % 41.5 % 40.0 % 39.7 % 41.2 % 17.8 % 54.9 % 41.3 %   30.3 %
The income tax effects of the special items are calculated based on the statutory rate of the jurisdiction in which the discrete item resides.

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2014   2015
$ Millions 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD
DETAILED SPECIAL ITEMS (AFTER-TAX)
 
Alaska
Impairments - - - (36 ) (36 ) - - - -
Restructuring -   -   -   -   -   (1 ) -   (10 )   (11 )
Total -   -   -   (36 ) (36 ) (1 ) -   (10 )   (11 )
 
Lower 48
Restructuring - - - - - (16 ) - (37 ) (53 )
Loss on capacity agreements (83 ) - - - (83 ) - - - -
Impairments - - (151 ) (124 ) (275 ) - - (154 ) (154 )
Rig termination - - - - - - - (246 ) (246 )
Pending claims and settlements (39 ) - - - (39 ) - - - -
Freeport LNG termination agreement - - - (545 ) (545 ) - - - -
Deferred tax adjustment - - - 59 59 - - - -
Depreciation volume adjustment -   -   -   -   -   -   -   48     48  
Total (122 ) -   (151 ) (610 ) (883 ) (16 ) -   (389 )   (405 )
 
Canada
Gain (loss) on asset sales - - - 38 38 - 29 - 29
Pending claims and settlements - - 47 - 47 - - - -
Impairments - (109 ) - (29 ) (138 ) - - - -
Restructuring - - - - - (18 ) 1 (27 ) (44 )
International tax law changes -   -   -   -   -   -   (136 ) -     (136 )
Total -   (109 ) 47   9   (53 ) (18 ) (106 ) (27 )   (151 )
 
Europe
Restructuring - - - - - (4 ) (1 ) (7 ) (12 )
Impairments - - - (192 ) (192 ) - (33 ) - (33 )
International tax law changes - - - - - 555 - - 555
Pending claims and settlements -   -   -   48   48   -   -   -     -  
Total -   -   -   (144 ) (144 ) 551   (34 ) (7 )   510  
 
Asia Pacific and Middle East
Restructuring - - - - - (1 ) - (3 ) (4 )
Impairments - - - - - - - (41 ) (41 )
Qatar depreciation adjustment (28 ) - - - (28 ) - - - -
Pending claims and settlements -   -   30   -   30   -   -   -     -  
Total (28 ) -   30   -   2   (1 ) -   (44 )   (45 )
 
Other International
Impairments - - - - - - (107 ) - (107 )
Tax impact from country exit - - - - - - 28 - 28
Restructuring - - - - - - - (1 ) (1 )
Pending claims and settlements -   154   -   -   154   -   -   -     -  
Total -   154   -   -   154   -   (79 ) (1 )   (80 )
 
Corporate and Other
Restructuring - - - - - (21 ) (10 ) (71 ) (102 )
Pension settlement expense - - - - - - (38 ) (56 ) (94 )
International tax law changes - - - - - - 7 - 7
Tax benefit on interest expense - - 61 - 61 - - - -
Pending claims and settlements -   -   28   -   28   -   -   -     -  
Total -   -   89   -   89   (21 ) (41 ) (127 )   (189 )
 
Discontinued Operations 20 33 1,078 - 1,131 - - - -
 
Total Company (130 ) 78   1,093   (781 ) 260   494   (260 ) (605 )   (371 )

3 of 8

2014     2015  
1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD
$ Millions
CASH FLOW INFORMATION
 
Cash Flows from Operating Activities
Net income (loss) 2,137 2,098 2,727 (24 ) 6,938 286 (164 ) (1,056 ) (934 )
Depreciation, depletion and amortization 1,892 2,070 2,096 2,271 8,329 2,131 2,329 2,271 6,731
Impairments 1 17 108 730 856 16 78 24 118
Dry hole costs and leasehold impairments 69 334 265 498 1,166 311 402 525 1,238
Accretion on discounted liabilities 117 120 120 127 484 121 122 122 365
Deferred taxes 230 403 391 (315 ) 709 (637 ) 35 (682 ) (1,284 )
Undistributed equity earnings 1,131 (450 ) (347 ) (257 ) 77 80 (121 ) (38 ) (79 )
Gain on dispositions (9 ) (7 ) (4 ) (78 ) (98 ) (52 ) (52 ) (18 ) (122 )
Income from discontinued operations (20 ) (33 ) (1,078 ) - (1,131 ) - - - -
Other 116 (308 ) (344 ) 303 (233 ) (133 ) (321 ) 195 (259 )
Net working capital changes 587   (738 ) (90 ) (444 ) (685 ) (55 ) (334 ) 591     202  
Net cash provided by continuing operations 6,251 3,506 3,844 2,811 16,412 2,068 1,974 1,934 5,976
Net cash provided by discontinued operations 74   56   27   -   157   -   -   -     -  
Net Cash Provided by Operating Activities 6,325   3,562   3,871   2,811   16,569   2,068   1,974   1,934     5,976  
 
Cash Flows from Investing Activities
Capital expenditures and investments (3,895 ) (4,246 ) (4,588 ) (4,356 ) (17,085 ) (3,332 ) (2,407 ) (2,174 ) (7,913 )
Working capital changes associated with investing activities 27 57 310 (214 ) 180 (198 ) (480 ) (164 ) (842 )
Proceeds from asset dispositions 48 15 1,371 169 1,603 173 121 29 323
Net sales (purchases) of short-term investments 63 (71 ) (101 ) 362 253 - - - -
Long-term collections from related parties
and other investments 108   65   (484 ) 468   157   43   300   60     403  
Net cash used in continuing operations (3,649 ) (4,180 ) (3,492 ) (3,571 ) (14,892 ) (3,314 ) (2,466 ) (2,249 ) (8,029 )
Net cash used in discontinued operations (38 ) (25 ) (10 ) -   (73 ) -   -   -     -  
Net Cash Used in Investing Activities (3,687 ) (4,205 ) (3,502 ) (3,571 ) (14,965 ) (3,314 ) (2,466 ) (2,249 )   (8,029 )
 
Cash Flows from Financing Activities
Net issuance (repayment) of debt (450 ) - (55 ) 1,485 980 (57 ) 2,493 (30 ) 2,406
Issuance of company common stock (32 ) 78 (19 ) 8 35 (34 ) (12 ) (23 ) (69 )
Dividends paid (855 ) (856 ) (907 ) (907 ) (3,525 ) (910 ) (909 ) (922 ) (2,741 )
Other (17 ) (11 ) 8   (44 ) (64 ) (18 ) (17 ) (15 )   (50 )
Net cash provided by (used in) continuing operations (1,354 ) (789 ) (973 ) 542 (2,574 ) (1,019 ) 1,555 (990 ) (454 )
Net cash provided by (used in) discontinued operations -   -   -   -   -   -   -   -     -  
Net Cash Provided by (Used in) Financing Activities (1,354 ) (789 ) (973 ) 542   (2,574 ) (1,019 ) 1,555   (990 )   (454 )
 
Effect of Exchange Rate Changes (10 ) 54   (130 ) (128 ) (214 ) (133 ) 86   (95 )   (142 )
 
Net Change in Cash and Cash Equivalents 1,274 (1,378 ) (734 ) (346 ) (1,184 ) (2,398 ) 1,149 (1,400 ) (2,649 )
Cash and cash equivalents at beginning of period 6,246   7,520   6,142   5,408   6,246   5,062   2,664   3,813     5,062  
Cash and Cash Equivalents at End of Period 7,520   6,142   5,408   5,062   5,062   2,664   3,813   2,413     2,413  
 
 
CAPITAL EXPENDITURES AND INVESTMENTS
 
Alaska 415 390 369 390 1,564 402 379 304 1,085
 
Lower 48 1,312 1,385 1,656 1,701 6,054 1,372 882 756 3,010
 
Canada 622 515 613 590 2,340 455 272 160 887
 
Europe 596 656 660 609 2,521 500 367 363 1,230
 
Asia Pacific and Middle East 848 1,094 1,077 858 3,877 488 432 551 1,471
 
Other International 67 172 164 136 539 83 43 13 139
 
Corporate and Other 35   34   49   72   190   32   32   27     91  
Total capital expenditures and investments 3,895   4,246   4,588   4,356   17,085   3,332   2,407   2,174     7,913  
Capital expenditures and investments for Nigeria: 22 28 9 - 59 - - - -

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2014   2015
1st Qtr 2nd Qtr   3rd Qtr   4th Qtr   YTD   1st Qtr   2nd Qtr   3rd Qtr   4th Qtr YTD  
TOTAL SEGMENTS            
 
 
Production
Total (MBOED)
Continuing operations, including equity affiliates 1,532 1,557 1,481 1,589 1,540 1,610 1,595 1,554 1,586
Discontinued operations (Nigeria) 36   37   14   -   21   -   -   -     -  
Total, including equity affiliates 1,568   1,594   1,495   1,589   1,561   1,610   1,595   1,554     1,586  
 
Crude Oil (MBD)
Consolidated operations 581 576 542 605 576 603 589 558 583
Equity affiliates 18   20   19   18   19   19   19   19     19  
Total continuing operations 599   596   561   623   595   622   608   577     602  
Discontinued operations (Nigeria) 8   9   4   -   5   -   -   -     -  
Total 607   605   565   623   600   622   608   577     602  
Over (under) lifting of crude oil (MBD)* (16 ) 4   15   6   2   17   17   32     22  
*Includes continuing and discontinued operations.
 
NGL (MBD)
Consolidated operations 152 159 149 145 151 148 152 148 149
Equity affiliates 7   8   8   7   8   7   8   8     8  
Total continuing operations 159   167   157   152   159   155   160   156     157  
Discontinued operations (Nigeria) 3   3   1   -   1   -   -   -     -  
Total 162   170   158   152   160   155   160   156     157  
 
Bitumen (MBD)
Consolidated operations 13 14 9 13 12 12 12 12 12
Equity affiliates 111   114   115   128   117   144   126   145     138  
Total 124   128   124   141   129   156   138   157     150  
 
Natural Gas (MMCFD)
Consolidated operations 3,432 3,482 3,315 3,524 3,438 3,498 3,514 3,316 3,441
Equity affiliates 469   516   518   516   505   561   622   668     618  
Total continuing operations 3,901   3,998   3,833   4,040   3,943   4,059   4,136   3,984     4,059  
Discontinued operations (Nigeria) 149   151   54   -   88   -   -   -     -  
Total 4,050   4,149   3,887   4,040   4,031   4,059   4,136   3,984     4,059  
 
Industry Prices
Crude Oil ($/BBL)
WTI 98.75 103.05 97.48 73.41 93.17 48.56 57.84 46.37 50.92
WCS 75.55 82.94 76.99 58.90 73.60 33.86 46.25 33.10 37.74
Brent dated 108.22 109.63 101.85 76.27 98.99 53.97 61.92 50.26 55.39
JCC ($/BBL) 112.78 111.40 109.59 110.37 111.04 89.63 55.45 59.63 68.23
Natural Gas ($/MMBTU)
Henry Hub first of month 4.94   4.68   4.07   4.04   4.43   2.99   2.65   2.77     2.80  
 
 
Average Realized Prices
Crude Oil ($/BBL)
Consolidated operations 101.71 103.48 96.65 71.34 92.84 48.02 57.94 46.37 50.79
Equity affiliates 97.82   100.80   96.03   70.40   91.48   49.14   59.93   47.55     52.21  
Total continuing operations 101.59   103.39   96.63   71.31   92.80   48.05   58.00   46.41     50.83  
Discontinued operations (Nigeria) 108.81   113.07   107.74   -   110.61   -   -   -     -  
Total 101.69   103.53   96.67   71.31   92.94   48.05   58.00   46.41     50.83  
 
NGL ($/BBL)
Consolidated operations 44.86 38.71 36.26 29.75 37.45 18.54 18.63 14.67 17.27
Equity affiliates 79.91   68.84   67.13   54.09   67.20   38.80   38.24   31.26     36.05  
Total continuing operations 46.52   40.36   37.83   31.07   38.99   19.60   19.62   15.54     18.24  
Discontinued operations (Nigeria) 12.99   14.55   11.49   -   13.41   -   -   -     -  
Total 45.85   39.93   37.66   31.07   38.71   19.60   19.62   15.54     18.24  
 
Bitumen ($/BBL)
Consolidated operations 61.69 68.00 64.95 46.57 60.03 24.31 39.74 22.67 29.13
Equity affiliates 55.85   65.55   62.30   36.85   54.62   16.60   32.66   17.16     21.57  
Total 56.47   65.82   62.49   37.76   55.13   17.22   33.30   17.53     22.17  
 
Natural Gas ($/MCF)
Consolidated operations 7.15 6.29 5.46 5.51 6.10 4.28 3.80 3.78 3.96
Equity affiliates 10.43   10.46   9.11   9.24   9.79   7.48   4.42   4.37     5.31  
Total continuing operations 7.55   6.82   5.96   5.98   6.57   4.72   3.90   3.87     4.16  
Discontinued operations (Nigeria) 2.69   2.46   2.26   -   2.53   -   -   -     -  
Total 7.37   6.66   5.91   5.98   6.48   4.72   3.90   3.87     4.16  
 
 
Exploration Expenses ($ Millions)
Dry holes 23 145 86 350 604 271 157 148 576
Leasehold impairment 46   189   179   148   562   40   245   377     662  
Total noncash expenses 69 334 265 498 1,166 311 402 525 1,238
Other (G&A, G&G and lease rentals)* 227   183   194   275   879   171   147   536     854  
Total exploration expenses 296   517   459   773   2,045   482   549   1,061     2,092  
*3Q 2015 includes Gulf of Mexico deepwater drillship termination expense.
 
U.S. exploration expenses 150   242   340   370   1,102   220   153   772     1,145  
International exploration expenses 146   275   119   403   943   262   396   289     947  
 
DD&A ($ Millions)
Alaska 132 135 123 135 525 140 158 183 481
Lower 48 829 939 982 953 3,703 952 1,073 1,062 3,087
Canada 232 238 236 218 924 199 217 200 616
Europe 404 421 427 546 1,798 417 481 484 1,382
Asia Pacific and Middle East 268 310 300 390 1,268 399 374 313 1,086
Other International 1 - 2 4 7 - - 1 1
Corporate and Other 26   27   26   25   104   24   26   28     78  
Total DD&A 1,892   2,070   2,096   2,271   8,329   2,131   2,329   2,271     6,731  

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2014   2015
1st Qtr   2nd Qtr   3rd Qtr   4th Qtr   YTD   1st Qtr   2nd Qtr   3rd Qtr   4th Qtr YTD  
PRODUCTION              
 
 
Crude Oil (MBD)
Alaska 175 170 139 164 162 163 154 144 154
Lower 48 171 191 191 199 188 198 209 213 207
Canada 13 12 13 13 13 14 13 12 13
Norway 96 89 89 91 91 88 91 90 90
United Kingdom 39   37   30   33   35   32   29   26     29  
Europe 135   126   119   124   126   120   120   116     119  
Australia/Timor-Leste 12 9 8 10 9 9 10 9 9
China 58 50 46 46 50 53 46 41 46
Indonesia 10 7 7 5 7 9 8 5 7
Malaysia 6 10 11 23 13 37 29 18 28
Equity affiliates 14   16   15   14   15   15   15   15     15  
AP/ME 100   92   87   98   94   123   108   88     105  
Libya 1 1 8 21 8 - - - -
Equity affiliates 4   4   4   4   4   4   4   4     4  
Other International 5   5   12   25   12   4   4   4     4  
Total continuing operations 599   596   561   623   595   622   608   577     602  
Discontinued operations (Nigeria) 8   9   4   -   5   -   -   -     -  
Total 607   605   565   623   600   622   608   577     602  
 
NGL (MBD)
Alaska 16 16 8 14 13 14 13 10 12
Lower 48 91 100 104 90 97 93 97 95 95
Canada 25 25 21 22 23 25 26 27 26
Norway 2 2 3 3 3 3 2 3 3
United Kingdom 5   5   5   6   5   4   4   4     4  
Europe 7   7   8   9   8   7   6   7     7  
Australia/Timor-Leste 8 6 5 6 6 6 7 6 6
Indonesia 5 5 3 4 4 3 3 3 3
Equity affiliates 7   8   8   7   8   7   8   8     8  
AP/ME 20   19   16   17   18   16   18   17     17  
Total continuing operations 159   167   157   152   159   155   160   156     157  
Discontinued operations (Nigeria) 3   3   1   -   1   -   -   -     -  
Total 162   170   158   152   160   155   160   156     157  
 
Bitumen (MBD)
Consolidated operations 13 14 9 13 12 12 12 12 12
Equity affiliates 111   114   115   128   117   144   126   145     138  
Total 124   128   124   141   129   156   138   157     150  
 
Natural Gas (MMCFD)
Alaska 55 45 48 49 49 52 41 34 42
Lower 48 1,468 1,495 1,485 1,514 1,491 1,505 1,501 1,457 1,487
Canada 707 713 707 719 711 736 768 712 739
Norway 157 135 106 156 138 163 143 142 149
United Kingdom 315   345   298   334   323   331   339   273     314  
Europe 472   480   404   490   461   494   482   415     463  
Australia/Timor-Leste 263 277 200 279 255 276 294 282 284
China 3 3 4 4 4 3 3 1 2
Indonesia 457 463 464 461 461 430 417 408 418
Malaysia 3 5 2 3 3 2 7 7 5
Equity affiliates 469   516   518   516   505   561   622   668     618  
AP/ME 1,195   1,264   1,188   1,263   1,228   1,272   1,343   1,366     1,327  
Libya 4   1   1   5   3   -   1   -     1  
Other International 4   1   1   5   3   -   1   -     1  
Total continuing operations 3,901   3,998   3,833   4,040   3,943   4,059   4,136   3,984     4,059  
Discontinued operations (Nigeria) 149   151   54   -   88   -   -   -     -  
Total 4,050   4,149   3,887   4,040   4,031   4,059   4,136   3,984     4,059  
 
Total (MBOED)
Alaska 200 193 155 186 183 186 174 160 173
Lower 48 507 540 543 541 533 542 556 551 550
Consolidated operations 169 170 161 168 167 174 180 170 174
Equity affiliates 111   114   115   128   117   144   126   145     138  
Canada 280   284   276   296   284   318   306   315     312  
Norway

124

114 110 120 117 118 117 117 118
United Kingdom 96   99   84   95   94   91   89   75     85  
Europe 220   213   194   215   211   209   206   192     203  
Australia/Timor-Leste 64 61 46 62 57 61 66 62 63
China 59 51 47 46 51 54 46 41 46
Indonesia 91 89 87 86 88 84 80 76 80
Malaysia 6 11 11 24 14 37 30 19 29
Equity affiliates 99   110   110   107   107   115   127   134     126  
AP/ME 319   322   301   325   317   351   349   332     344  
Libya 2 1 8 22 8 - - - -
Equity affiliates 4   4   4   4   4   4   4   4     4  
Other International 6   5   12   26   12   4   4   4     4  
Total continuing operations 1,532   1,557   1,481   1,589   1,540   1,610   1,595   1,554     1,586  
Discontinued operations (Nigeria) 36   37   14   -   21   -   -   -     -  
Total 1,568   1,594   1,495   1,589   1,561   1,610   1,595   1,554     1,586  

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2014   2015
1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD
AVERAGE REALIZED PRICES
 
 
Crude Oil ($/BBL)
Consolidated operations
Alaska 106.39 108.93 102.36 74.07 97.68 50.74 61.51 50.48 54.18
Lower 48 91.52 93.73 87.91 65.34 84.18 40.77 52.01 41.56 44.84
Canada 80.32 86.33 82.48 62.89 77.87 37.12 46.58 38.44 40.71
Norway 109.69 111.97 103.53 73.91 98.37 55.72 62.39 50.56 56.48
United Kingdom 107.37 110.01 102.22 85.38 103.07 52.24 62.15 46.85   53.16
Europe 109.05 111.38 103.17 75.76 99.56 54.30 62.35 49.86   55.65
Australia/Timor-Leste 106.36 105.31 101.26 75.57 98.70 50.58 60.38 50.45 53.26
China 105.62 106.18 97.73 71.34 95.94 48.99 57.26 43.31 49.94
Indonesia 92.82 94.82 84.28 53.74 84.28 43.64 61.28 36.15 48.54
Malaysia 115.35 114.51 109.62 76.87 96.94 56.33 65.51 52.84   58.22
AP/ME 104.92 105.65 99.07 71.94 95.32 51.20 60.55 46.81   52.88
Libya - 107.33 95.22 83.52 86.71 - - -   -
Other International - 107.33 95.22 83.52 86.71 - - -   -
Total consolidated operations 101.71 103.48 96.65 71.34 92.84 48.02 57.94 46.37   50.79
Equity affiliates 97.82 100.80 96.03 70.40 91.48 49.14 59.93 47.55   52.21
Total continuing operations 101.59 103.39 96.63 71.31 92.80 48.05 58.00 46.41   50.83
Discontinued operations (Nigeria) 108.81 113.07 107.74 - 110.61 - - -   -
Total 101.69 103.53 96.67 71.31 92.94 48.05 58.00 46.41   50.83
 
NGL ($/BBL)
Consolidated operations
Lower 48 36.06 31.28 30.67 24.93 30.74 15.55 15.29 12.55 14.45
Canada 56.13 46.56 45.29 35.72 46.23 18.28 19.23 14.50 17.30
Norway 52.95 52.18 45.14 37.40 47.74 30.43 28.66 21.25 27.15
United Kingdom 64.99 59.48 58.21 40.05 54.74 29.69 30.90 26.72   29.03
Europe 60.48 57.32 54.47 39.42 52.65 29.90 29.54 24.74   28.20
Australia/Timor-Leste 78.51 72.80 71.18 51.27 69.56 41.63 40.95 32.53 38.95
Indonesia 82.11 69.07 67.57 56.31 69.06 39.31 38.95 31.89   36.49
AP/ME 80.07 71.52 69.69 53.66 69.36 40.90 40.35 32.26   38.12
Total consolidated operations 44.86 38.71 36.26 29.75 37.45 18.54 18.63 14.67   17.27
Equity affiliates 79.91 68.84 67.13 54.09 67.20 38.80 38.24 31.26   36.05
Total continuing operations 46.52 40.36 37.83 31.07 38.99 19.60 19.62 15.54   18.24
Discontinued operations (Nigeria) 12.99 14.55 11.49 - 13.41 - - -   -
Total 45.85 39.93 37.66 31.07 38.71 19.60 19.62 15.54   18.24
 
Bitumen ($/BBL)
Consolidated operations 61.69 68.00 64.95 46.57 60.03 24.31 39.74 22.67 29.13
Equity affiliates 55.85 65.55 62.30 36.85 54.62 16.60 32.66 17.16   21.57
Total 56.47 65.82 62.49 37.76 55.13 17.22 33.30 17.53   22.17
 
Natural Gas ($/MCF)
Consolidated operations
Alaska 5.22 6.03 5.47 5.01 5.42 4.29 4.50 4.26 4.35
Lower 48 5.08 4.43 3.96 3.73 4.29 2.60 2.38 2.65 2.54
Canada 5.81 4.13 3.50 3.12 4.13 2.21 1.88 1.94 2.01
Norway 11.16 9.19 7.81 8.66 9.35 7.67 6.84 6.79 7.11
United Kingdom 10.83 8.92 7.88 9.42 9.27 8.65 7.40 7.28   7.80
Europe 10.94 8.99 7.86 9.22 9.29 8.33 7.23 7.11   7.58
Australia/Timor-Leste* 1.09 1.11 1.08 1.09 1.09 1.05 0.85 0.63 0.84
China 1.66 2.49 2.52 2.54 2.33 2.49 2.51 2.50 2.50
Indonesia 10.24 10.21 10.18 8.16 9.69 6.50 7.55 6.26 6.77
Malaysia 0.26 0.26 0.26 0.26 0.26 1.21 1.49 1.71   1.55
AP/ME 10.32 10.32 9.39 9.17 9.80 7.23 6.48 5.97   6.56
Libya 6.65 - - 0.09 3.40 - - -   -
Other International 6.65 - - 0.09 3.40 - - -   -
Total consolidated operations 7.15 6.29 5.46 5.51 6.10 4.28 3.80 3.78   3.96
Equity affiliates 10.43 10.46 9.11 9.24 9.79 7.48 4.42 4.37   5.31
Total continuing operations 7.55 6.82 5.96 5.98 6.57 4.72 3.90 3.87   4.16
Discontinued operations (Nigeria) 2.69 2.46 2.26 - 2.53 - - -   -
Total 7.37 6.66 5.91 5.98 6.48 4.72 3.90 3.87   4.16
*Excludes transfers to Darwin LNG plant.

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2014   2015
1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD
CORPORATE AND OTHER
 
 
Corporate and Other Earnings (Loss) ($ Millions) (235 ) (251 ) (130 ) (258 ) (874 ) (249 ) (132 ) (338 )   (719 )
 
 
Detail of Earnings (Loss) ($ Millions)
Net interest expense* (163 ) (158 ) (36 ) (145 ) (502 ) (155 ) (161 ) (176 ) (492 )
Corporate G&A expenses (31 ) (51 ) (51 ) (61 ) (194 ) (21 ) (71 ) (71 ) (163 )
Technology** (28 ) (20 ) (26 ) (19 ) (93 ) (16 ) 88 3 75
Other (13 ) (22 ) (17 ) (33 ) (85 ) (57 ) 12   (94 )   (139 )
Total (235 ) (251 ) (130 ) (258 ) (874 ) (249 ) (132 ) (338 )   (719 )
*Third-quarter 2014 includes a $61 million tax benefit on interest expense from 2013, as shown on page 3, as well as a $32 million tax benefit related to 2014.
**Includes investment in new technologies or businesses outside of our normal scope of operations and licensing revenues.
 
Before-Tax Net Interest Expense ($ Millions)
Interest expense (291 ) (276 ) (280 ) (289 ) (1,136 ) (296 ) (307 ) (305 ) (908 )
Capitalized interest 120 121 131 116 488 94 97 65 256
Interest revenue 9   10   10   11   40   12   13   6     31  
Total (162 ) (145 ) (139 ) (162 ) (608 ) (190 ) (197 ) (234 )   (621 )
 
Debt
Total debt ($ Millions) 21,206 21,234 21,187 22,565 22,565 22,511 24,925 24,891 24,891
Debt-to-capital ratio (%) 28 % 28 % 28 % 30 % 30 % 31 % 34 % 36 %   36 %
 
Equity ($ Millions) 53,621   55,686   55,661   52,273   52,273   49,008   48,969   44,555     44,555  
 
 
 
REFERENCE
 
Commonly Used Abbreviations
Earnings Net Income (Loss) Attributable to ConocoPhillips
DD&A Depreciation, Depletion and Amortization
G&G Geological and Geophysical
G&A General and Administrative
JCC Japan Crude Cocktail
LNG Liquefied Natural Gas
NGL Natural Gas Liquids
WCS Western Canada Select
WTI West Texas Intermediate
 
 
Units of Measure
BBL Barrels
MMBBL Millions of Barrels
MBD Thousands of Barrels per Day
MBOED Thousands of Barrels of Oil Equivalent per Day
MCF Thousands of Cubic Feet
MMBTU Millions of British Thermal Units
MMCFD Millions of Cubic Feet per Day


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