filings.toolsCover and table of contents
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Cover and table of contents
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
(Mark One)
| ☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the quarterly period ended March 31, 2025
or
| ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the transition period from ___________________ to ___________________
Commission file number: 001-32395
ConocoPhillips
(Exact name of registrant as specified in its charter)
| Delaware | 01-0562944 | ||||||||||
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
925 N. Eldridge Parkway, Houston, TX 77079
(Address of principal executive offices) (Zip Code)
281-293-1000
(Registrant's telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading symbols | Name of each exchange on which registered | ||||||
| Common Stock, $.01 Par Value | COP | New York Stock Exchange | ||||||
| 7% Debentures due 2029 | CUSIP—718507BK1 | New York Stock Exchange |
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer ☒ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒
The registrant had 1,262,410,026 shares of common stock, $.01 par value, outstanding at March 31, 2025.
Table of Contents
| 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 NOK | British pound Norwegian kroner | DD&A | depreciation, depletion and amortization | ||||||||
| FASB | Financial Accounting Standards Board | ||||||||||
| Units of Measurement | |||||||||||
| BBL | barrel | FIFO | first-in, first-out | ||||||||
| BCF | billion cubic feet | G&A | general and administrative | ||||||||
| BOE | barrel of oil equivalent | GAAP | generally accepted accounting principles | ||||||||
| MBD | thousand barrels per day | ||||||||||
| 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 barrels of oil equivalent per day | VIE | variable interest entity | ||||||||
| MMBOED | million barrels of oil equivalent per day | ||||||||||
| MMBTU | million British thermal units | Miscellaneous | |||||||||
| MMCFD MTPA | million cubic feet per day million tonnes per annum | CERCLA | Federal Comprehensive Environmental Response Compensation and Liability Act | ||||||||
| 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 Commission | ||||||||
| CCS | carbon capture and storage | ||||||||||
| 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 | liquefied natural gas | NYSE | New York Stock Exchange | ||||||||
| NGLs | natural gas liquids | SEC | U.S. Securities and Exchange | ||||||||
| OPEC | Organization of Petroleum | Commission | |||||||||
| Exporting Countries | TSR | total shareholder return | |||||||||
| PSC | production sharing contract | U.K. | United Kingdom | ||||||||
| PUDs | proved undeveloped reserves | U.S. | United States of America | ||||||||
| SAGD | steam-assisted gravity drainage | VROC | variable return of cash | ||||||||
| WCS | Western Canadian Select | ||||||||||
| WTI | West Texas Intermediate | ||||||||||
| 1 | ConocoPhillips 2025 Q1 10-Q |
| Financial Statements | Table of Contents |
PART I. Financial Information
Next: Item 1. Financial Statements