Exhibit 99.2
CONSOLIDATED INCOME STATEMENT | |||||||||||
Millions of Dollars | |||||||||||
2009 | 2010 | ||||||||||
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* | 30,741 | 35,448 | 40,173 | 42,979 | 149,341 | 44,821 | 44,821 | ||||
Equity in earnings of affiliates | 373 | 632 | 981 | 545 | 2,531 | 868 | 868 | ||||
Other income | 124 | 106 | 117 | 171 | 518 | 73 | 73 | ||||
31,238 | 36,186 | 41,271 | 43,695 | 152,390 | 45,762 | 45,762 | |||||
Costs and Expenses | |||||||||||
Purchased crude oil, natural gas and products | 19,759 | 24,609 | 28,008 | 30,057 | 102,433 | 31,521 | 31,521 | ||||
Production and operating expenses | 2,545 | 2,573 | 2,534 | 2,687 | 10,339 | 2,527 | 2,527 | ||||
Selling, general and administrative expenses | 475 | 476 | 427 | 452 | 1,830 | 444 | 444 | ||||
Exploration expenses | 225 | 243 | 386 | 328 | 1,182 | 383 | 383 | ||||
Depreciation, depletion and amortization | 2,230 | 2,347 | 2,327 | 2,391 | 9,295 | 2,318 | 2,318 | ||||
Impairments | |||||||||||
Expropriated assets | - | 51 | - | - | 51 | - | - | ||||
Other | 3 | - | 56 | 425 | 484 | 91 | 91 | ||||
Taxes other than income taxes* | 3,464 | 3,715 | 4,205 | 4,145 | 15,529 | 4,037 | 4,037 | ||||
Accretion on discounted liabilities | 104 | 108 | 96 | 114 | 422 | 114 | 114 | ||||
Interest and debt expense | 310 | 268 | 336 | 375 | 1,289 | 301 | 301 | ||||
Foreign currency transaction (gains) losses | 131 | (142) | (17) | (18) | (46) | 36 | 36 | ||||
29,246 | 34,248 | 38,358 | 40,956 | 142,808 | 41,772 | 41,772 | |||||
Income before income taxes | 1,992 | 1,938 | 2,913 | 2,739 | 9,582 | 3,990 | 3,990 | ||||
Provision for income taxes | 1,176 | 1,063 | 1,426 | 1,425 | 5,090 | 1,878 | 1,878 | ||||
Net Income | 816 | 875 | 1,487 | 1,314 | 4,492 | 2,112 | 2,112 | ||||
Less: net income attributable to | |||||||||||
noncontrolling interests | (16) | (16) | (17) | (29) | (78) | (14) | (14) | ||||
Net Income Attributable to ConocoPhillips | 800 | 859 | 1,470 | 1,285 | 4,414 | 2,098 | 2,098 | ||||
*Includes excise taxes on petroleum products sales: | 3,060 | 3,316 | 3,538 | 3,411 | 13,325 | 3,220 | 3,220 | ||||
Net income (loss) attributable to ConocoPhillips | |||||||||||
per share of common stock (dollars)** | |||||||||||
Basic | 0.54 | 0.58 | 0.98 | 0.86 | 2.96 | 1.41 | 1.41 | ||||
Diluted | 0.54 | 0.57 | 0.97 | 0.86 | 2.94 | 1.40 | 1.40 | ||||
Average common shares outstanding (in thousands) | |||||||||||
Basic | 1,485,890 | 1,486,496 | 1,488,352 | 1,489,811 | 1,487,650 | 1,492,861 | 1,492,861 | ||||
Diluted | 1,495,247 | 1,495,700 | 1,498,204 | 1,500,983 | 1,497,608 | 1,503,565 | 1,503,565 |
**For the purpose of the earnings-per-share calculation only, third-quarter and twelve-month 2009 net income attributable to ConocoPhillips have been reduced $12 million for the excess of the amount paid for the redemption of a noncontrolling interest over its carrying value, which was charged directly to retained earnings. |
Note: Certain items in 2009 have been recast to reflect the retrospective application of a change in accounting principle related to our LUKOIL investment. The basis for recording equity earnings was changed from estimating LUKOIL's current quarter earnings to recording LUKOIL's actual results on a one-quarter lag basis. |
SUMMARY OF INCOME (LOSS) ATTRIBUTABLE TO CONOCOPHILLIPS BY SEGMENT | |||||||||||
Millions of Dollars | |||||||||||
2009 | 2010 | ||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | ||
U.S. E&P | 173 | 336 | 327 | 667 | 1,503 | 757 | 757 | ||||
International E&P | 527 | 389 | 651 | 534 | 2,101 | 1,075 | 1,075 | ||||
Total E&P | 700 | 725 | 978 | 1,201 | 3,604 | 1,832 | 1,832 | ||||
Midstream | 123 | 31 | 62 | 97 | 313 | 77 | 77 | ||||
U.S. R&M | 98 | (38) | 73 | (325) | (192) | 12 | 12 | ||||
International R&M | 107 | (14) | 26 | 110 | 229 | (16) | (16) | ||||
Total R&M | 205 | (52) | 99 | (215) | 37 | (4) | (4) | ||||
LUKOIL Investment | 8 | 243 | 512 | 456 | 1,219 | 387 | 387 | ||||
Chemicals | 23 | 67 | 104 | 54 | 248 | 110 | 110 | ||||
Emerging Businesses | - | 2 | (2) | 3 | 3 | 6 | 6 | ||||
Corporate and Other | (259) | (157) | (283) | (311) | (1,010) | (310) | (310) | ||||
Consolidated | 800 | 859 | 1,470 | 1,285 | 4,414 | 2,098 | 2,098 |
Note: Certain items in 2009 have been recast to reflect the retrospective application of a change in accounting principle related to our LUKOIL investment. The basis for recording equity earnings was changed from estimating LUKOIL's current quarter earnings to recording LUKOIL's actual results on a one-quarter lag basis. |
Page 1 of 12
SUMMARY OF INCOME (LOSS) BEFORE TAXES BY SEGMENT | |||||||||||
Millions of Dollars | |||||||||||
2009 | 2010 | ||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | ||
U.S. E&P | 283 | 502 | 505 | 1,000 | 2,290 | 1,149 | 1,149 | ||||
International E&P | 1,498 | 1,311 | 1,855 | 1,828 | 6,492 | 2,632 | 2,632 | ||||
Total E&P | 1,781 | 1,813 | 2,360 | 2,828 | 8,782 | 3,781 | 3,781 | ||||
Midstream | 202 | 50 | 93 | 139 | 484 | 116 | 116 | ||||
U.S. R&M | 163 | 13 | 116 | (448) | (156) | 41 | 41 | ||||
International R&M | 150 | (37) | 25 | 99 | 237 | (86) | (86) | ||||
Total R&M | 313 | (24) | 141 | (349) | 81 | (45) | (45) | ||||
LUKOIL Investment | - | 243 | 523 | 465 | 1,231 | 395 | 395 | ||||
Chemicals | 32 | 82 | 131 | 50 | 295 | 135 | 135 | ||||
Emerging Businesses | (5) | (2) | (6) | - | (13) | 4 | 4 | ||||
Corporate and Other | (331) | (224) | (329) | (394) | (1,278) | (396) | (396) | ||||
Consolidated | 1,992 | 1,938 | 2,913 | 2,739 | 9,582 | 3,990 | 3,990 |
Note: Certain items in 2009 have been recast to reflect the retrospective application of a change in accounting principle related to our LUKOIL investment. The basis for recording equity earnings was changed from estimating LUKOIL's current quarter earnings to recording LUKOIL's actual results on a one-quarter lag basis. |
EFFECTIVE TAX RATES | |||||||||||
2009 | 2010 | ||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | ||
U.S. E&P | 38.5% | 33.1% | 35.2% | 33.3% | 34.3% | 34.0% | 34.0% | ||||
International E&P | 64.1% | 69.4% | 64.1% | 69.3% | 66.6% | 58.7% | 58.7% | ||||
Total E&P | 60.0% | 59.3% | 57.9% | 56.5% | 58.2% | 51.2% | 51.2% | ||||
Midstream | 39.1% | 40.0% | 33.3% | 30.2% | 35.3% | 33.6% | 33.6% | ||||
U.S. R&M | 39.9% | 384.6% | 35.3% | 27.5% | -20.5% | 68.3% | 68.3% | ||||
International R&M | 28.7% | 62.2% | 0.0% | -11.1% | 3.8% | 81.4% | 81.4% | ||||
Total R&M | 34.5% | -112.5% | 29.1% | 38.4% | 50.6% | 93.3% | 93.3% | ||||
LUKOIL Investment | -- | 0.0% | 1.9% | 2.2% | 1.0% | 1.8% | 1.8% | ||||
Chemicals | 28.1% | 17.1% | 21.4% | -10.0% | 15.9% | 18.5% | 18.5% | ||||
Emerging Businesses | 100.0% | 200.0% | 66.7% | -- | 123.1% | -25.0% | -25.0% | ||||
Corporate and Other | 22.7% | 31.3% | 14.3% | 21.3% | 21.6% | 21.7% | 21.7% | ||||
Consolidated | 59.0% | 54.9% | 49.0% | 52.0% | 53.1% | 47.1% | 47.1% |
Note: Certain items in 2009 have been recast to reflect the retrospective application of a change in accounting principle related to our LUKOIL investment. The basis for recording equity earnings was changed from estimating LUKOIL's current quarter earnings to recording LUKOIL's actual results on a one-quarter lag basis. |
ESTIMATED TAXES PAID | |||||||||||
Millions of Dollars | |||||||||||
2009 | 2010 | ||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | ||
Cash income taxes paid | 1,346 | 1,925 | 1,535 | 1,835 | 6,641 | 1,596 | 1,596 | ||||
Taxes other than income taxes | 3,464 | 3,715 | 4,205 | 4,145 | 15,529 | 4,037 | 4,037 | ||||
Less: Excise taxes* | (3,060) | (3,316) | (3,538) | (3,411) | (13,325) | (3,220) | (3,220) | ||||
Estimated Taxes Paid | 1,750 | 2,324 | 2,202 | 2,569 | 8,845 | 2,413 | 2,413 |
*Represents taxes collected by ConocoPhillips and reimbursed to taxing authorities.
Page 2 of 12
SPECIAL ITEMS INCLUDED IN NET INCOME ATTRIBUTABLE TO CONOCOPHILLIPS (AFTER-TAX) | ||||||||||||||
Millions of Dollars | ||||||||||||||
2009 | 2010 | |||||||||||||
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 | - | - | - | - | - | - | - | |||||||
Impairments | - | - | - | (29) | (29) | - | - | |||||||
Severance accrual | - | - | 20 | - | 20 | - | - | |||||||
Total | - | - | 20 | (29) | (9) | - | - | |||||||
International E&P | ||||||||||||||
Gain (loss) on asset sales | - | - | - | 55 | 55 | - | - | |||||||
Impairments | - | (51) | - | (533) | (584) | - | - | |||||||
Cancelled projects | - | - | - | - | - | (83) | (83) | |||||||
Severance accrual | - | - | 11 | - | 11 | - | - | |||||||
Asset retirement | - | (37) | - | - | (37) | - | - | |||||||
Total | - | (88) | 11 | (478) | (555) | (83) | (83) | |||||||
Total E&P | - | (88) | 31 | (507) | (564) | (83) | (83) | |||||||
Midstream | ||||||||||||||
Gain on share issuance by equity affiliate | 88 | - | - | - | 88 | - | - | |||||||
Total | 88 | - | - | - | 88 | - | - | |||||||
U.S. R&M | ||||||||||||||
Gain (loss) on asset sales | - | - | 32 | - | 32 | - | - | |||||||
Impairments | - | (72) | (33) | (11) | (116) | - | - | |||||||
Severance accrual | - | - | 6 | - | 6 | - | - | |||||||
Pending claims and settlements | (25) | - | (33) | - | (58) | - | - | |||||||
Total | (25) | (72) | (28) | (11) | (136) | - | - | |||||||
International R&M | ||||||||||||||
Gain (loss) on asset sales | - | - | - | - | - | - | - | |||||||
Cancelled projects | - | - | - | - | - | (25) | (25) | |||||||
Total | - | - | - | - | - | (25) | (25) | |||||||
Total R&M | (25) | (72) | (28) | (11) | (136) | (25) | (25) | |||||||
LUKOIL Investment | ||||||||||||||
Total | - | - | - | - | - | - | - | |||||||
Chemicals | ||||||||||||||
Total | - | - | - | - | - | - | - | |||||||
Emerging Businesses | ||||||||||||||
Total | - | - | - | - | - | - | - | |||||||
Corporate and Other | ||||||||||||||
Pending claims and settlements | - | - | (7) | - | (7) | - | - | |||||||
Cancelled projects | - | - | - | - | - | (2) | (2) | |||||||
Severance accrual | - | - | 3 | - | 3 | - | - | |||||||
Total | - | - | (4) | - | (4) | (2) | (2) | |||||||
Total Company | 63 | (160) | (1) | (518) | (616) | (110) | (110) |
Page 3 of 12
CASH FLOW INFORMATION | |||||||||||
Millions of Dollars | |||||||||||
2009 | 2010 | ||||||||||
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 | 816 | 875 | 1,487 | 1,314 | 4,492 | 2,112 | 2,112 | ||||
Depreciation, depletion and amortization | 2,230 | 2,347 | 2,327 | 2,391 | 9,295 | 2,318 | 2,318 | ||||
Impairments | 3 | 51 | 56 | 425 | 535 | 91 | 91 | ||||
Dry hole costs and leasehold impairments | 123 | 115 | 233 | 135 | 606 | 133 | 133 | ||||
Accretion on discounted liabilities | 104 | 108 | 96 | 114 | 422 | 114 | 114 | ||||
Deferred income taxes | (221) | (382) | (269) | (243) | (1,115) | (35) | (35) | ||||
Undistributed equity earnings | (280) | (326) | (692) | 44 | (1,254) | (503) | (503) | ||||
Net gain on asset dispositions | (39) | 3 | (52) | (72) | (160) | (24) | (24) | ||||
Other | (2) | 177 | (326) | 347 | 196 | (187) | (187) | ||||
Net working capital changes | (849) | (401) | 73 | 639 | (538) | (979) | (979) | ||||
Net Cash Provided by | |||||||||||
Operating Activities | 1,885 | 2,567 | 2,933 | 5,094 | 12,479 | 3,040 | 3,040 | ||||
Cash Flows from Investing Activities | |||||||||||
Capital expenditures & investments | (2,906) | (2,672) | (2,598) | (2,685) | (10,861) | (2,071) | (2,071) | ||||
Proceeds from asset dispositions | 86 | 146 | 706 | 332 | 1,270 | 132 | 132 | ||||
Long-term advances to/collections from | |||||||||||
affiliates and other investments | (106) | (56) | (29) | (153) | (344) | (218) | (218) | ||||
Net Cash Used for Investing Activities | (2,926) | (2,582) | (1,921) | (2,506) | (9,935) | (2,157) | (2,157) | ||||
Cash Flows from Financing Activities | |||||||||||
Net issuance (repayment) of debt | 1,931 | 989 | 104 | (1,795) | 1,229 | 347 | 347 | ||||
Issuance of stock | (21) | - | 10 | 24 | 13 | 9 | 9 | ||||
Repurchase of stock | - | - | - | - | - | - | - | ||||
Dividends | (696) | (697) | (697) | (742) | (2,832) | (744) | (744) | ||||
Other | (203) | (203) | (685) | (174) | (1,265) | (186) | (186) | ||||
Net Cash Provided by (Used for) | |||||||||||
Financing Activities | 1,011 | 89 | (1,268) | (2,687) | (2,855) | (574) | (574) | ||||
Effect of Exchange Rate Changes | 77 | 12 | 9 | - | 98 | 4 | 4 | ||||
Net Change in Cash | |||||||||||
and Cash Equivalents | 47 | 86 | (247) | (99) | (213) | 313 | 313 | ||||
Cash and cash equivalents | |||||||||||
at beginning of period | 755 | 802 | 888 | 641 | 755 | 542 | 542 | ||||
Cash and Cash Equivalents | |||||||||||
at End of Period | 802 | 888 | 641 | 542 | 542 | 855 | 855 |
Note: Certain items in 2009 have been recast to reflect the retrospective application of a change in accounting principle related to our LUKOIL investment. The basis for recording equity earnings was changed from estimating LUKOIL's current quarter earnings to recording LUKOIL's actual results on a one-quarter lag basis. |
CAPITAL PROGRAM | |||||||||||
Millions of Dollars | |||||||||||
2009 | 2010 | ||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | ||
E&P | |||||||||||
Capital expenditures and investments | 2,376 | 2,059 | 2,202 | 2,262 | 8,899 | 1,850 | 1,850 | ||||
Loans and advances | 88 | 33 | 32 | 22 | 175 | 48 | 48 | ||||
Joint venture acquisition obligation--principal | 153 | 156 | 157 | 159 | 625 | 161 | 161 | ||||
E&P total | 2,617 | 2,248 | 2,391 | 2,443 | 9,699 | 2,059 | 2,059 | ||||
Midstream* | 1 | 3 | - | 1 | 5 | - | - | ||||
R&M | |||||||||||
Capital expenditures and investments | 496 | 523 | 352 | 355 | 1,726 | 192 | 192 | ||||
Loans and advances | - | - | 150 | 200 | 350 | 200 | 200 | ||||
R&M total | 496 | 523 | 502 | 555 | 2,076 | 392 | 392 | ||||
LUKOIL Investment* | - | - | - | - | - | - | - | ||||
Chemicals* | - | - | - | - | - | - | - | ||||
Emerging Businesses* | 17 | 56 | 16 | 8 | 97 | 1 | 1 | ||||
Corporate and Other* | 16 | 31 | 28 | 59 | 134 | 28 | 28 | ||||
Total Capital Program | 3,147 | 2,861 | 2,937 | 3,066 | 12,011 | 2,480 | 2,480 |
*Capital expenditures and investments only.
Page 4 of 12
E&P | ||||||||||||||
2009 | 2010 | |||||||||||||
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) | 700 | 725 | 978 | 1,201 | 3,604 | 1,832 | 1,832 | |||||||
Production | ||||||||||||||
Total, Including Equity Affiliates (MBOE/D) | 1,925 | 1,872 | 1,791 | 1,828 | 1,854 | 1,828 | 1,828 | |||||||
E&P segment plus LUKOIL Investment segment:* | 2,375 | 2,307 | 2,223 | 2,261 | 2,291 | 2,271 | 2,271 | |||||||
Crude Oil and Natural Gas Liquids (NGL) (MB/D) | ||||||||||||||
Consolidated operations | 963 | 912 | 863 | 913 | 913 | 901 | 901 | |||||||
Equity affiliates | 49 | 55 | 59 | 57 | 55 | 57 | 57 | |||||||
Total | 1,012 | 967 | 922 | 970 | 968 | 958 | 958 | |||||||
Over/(Under) Lifting of Crude Oil (MB/D) | 10 | 1 | 17 | (17) | 3 | 19 | 19 | |||||||
Synthetic Oil (MB/D) | 23 | 16 | 25 | 27 | 23 | 22 | 22 | |||||||
Bitumen (MB/D) | ||||||||||||||
Consolidated operations | 7 | 6 | 8 | 7 | 7 | 8 | 8 | |||||||
Equity affiliates | 35 | 41 | 45 | 52 | 43 | 52 | 52 | |||||||
Total | 42 | 47 | 53 | 59 | 50 | 60 | 60 | |||||||
Natural Gas (MMCF/D) | ||||||||||||||
Consolidated operations | 5,011 | 4,957 | 4,658 | 4,556 | 4,793 | 4,635 | 4,635 | |||||||
Equity affiliates | 76 | 94 | 88 | 76 | 84 | 91 | 91 | |||||||
Total | 5,087 | 5,051 | 4,746 | 4,632 | 4,877 | 4,726 | 4,726 | |||||||
Industry Prices (Platt's) | ||||||||||||||
Crude Oil ($/BBL) | ||||||||||||||
WTI spot | 42.97 | 59.54 | 68.19 | 76.06 | 61.69 | 78.67 | 78.67 | |||||||
Brent dated | 44.40 | 58.79 | 68.28 | 74.56 | 61.51 | 76.24 | 76.24 | |||||||
Natural Gas ($/MMBTU) | ||||||||||||||
Henry Hub -- First of Month | 4.91 | 3.51 | 3.39 | 4.16 | 3.99 | 5.30 | 5.30 | |||||||
Average Realized Prices | ||||||||||||||
Crude Oil and NGL ($/BBL) | ||||||||||||||
Consolidated operations | 40.39 | 51.77 | 61.93 | 68.66 | 55.47 | 71.89 | 71.89 | |||||||
Equity affiliates | 39.92 | 55.44 | 64.31 | 70.69 | 58.23 | 71.30 | 71.30 | |||||||
Total | 40.37 | 51.98 | 62.08 | 68.78 | 55.63 | 71.86 | 71.86 | |||||||
Synthetic Oil ($/BBL) | 45.69 | 58.71 | 66.42 | 73.35 | 62.01 | 78.67 | 78.67 | |||||||
Bitumen ($/BBL) | ||||||||||||||
Consolidated operations | 21.10 | 40.65 | 48.35 | 47.44 | 39.67 | 59.18 | 59.18 | |||||||
Equity affiliates | 24.64 | 46.90 | 49.81 | 55.07 | 45.69 | 56.15 | 56.15 | |||||||
Total | 24.04 | 46.10 | 49.59 | 54.14 | 44.84 | 56.57 | 56.57 | |||||||
Natural Gas ($/MCF) | ||||||||||||||
Consolidated operations | 4.98 | 3.72 | 3.69 | 4.81 | 4.30 | 5.51 | 5.51 | |||||||
Equity affiliates | 2.10 | 2.10 | 2.57 | 2.62 | 2.35 | 2.67 | 2.67 | |||||||
Total | 4.93 | 3.69 | 3.67 | 4.77 | 4.26 | 5.45 | 5.45 | |||||||
Exploration Charges ($ Millions) | ||||||||||||||
Dry holes | 80 | 66 | 162 | 51 | 359 | 93 | 93 | |||||||
Lease impairments | 43 | 49 | 71 | 84 | 247 | 40 | 40 | |||||||
Total Noncash Charges | 123 | 115 | 233 | 135 | 606 | 133 | 133 | |||||||
Other (G&G and Lease rentals) | 102 | 128 | 153 | 193 | 576 | 250 | 250 | |||||||
Total Exploration Charges | 225 | 243 | 386 | 328 | 1,182 | 383 | 383 | |||||||
Depreciation, Depletion and | ||||||||||||||
Amortization (DD&A) ($ Millions) | 1,994 | 2,127 | 2,082 | 2,134 | 8,337 | 2,071 | 2,071 | |||||||
Foreign Currency Gains | ||||||||||||||
(Losses) After-Tax ($ Millions) | (98) | (22) | (11) | 20 | (111) | 60 | 60 |
*Recast 2009 to reflect the retrospective application of a change in accounting principle related to our LUKOIL investment. The basis for recording equity earnings was changed from estimating LUKOIL's current quarter earnings to recording LUKOIL's actual results on a one-quarter lag basis. |
Page 5 of 12
U.S. E&P | ||||||||||||||
2009 | 2010 | |||||||||||||
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) | 173 | 336 | 327 | 667 | 1,503 | 757 | 757 | |||||||
Alaska ($ Millions) | 244 | 404 | 356 | 536 | 1,540 | 517 | 517 | |||||||
Lower 48 ($ Millions) | (71) | (68) | (29) | 131 | (37) | 240 | 240 | |||||||
Production | ||||||||||||||
Total U.S. (MBOE/D) | 791 | 771 | 737 | 722 | 755 | 703 | 703 | |||||||
Crude Oil and NGL (MB/D) | ||||||||||||||
Alaska | 275 | 252 | 229 | 252 | 252 | 247 | 247 | |||||||
Lower 48 | 163 | 170 | 168 | 165 | 166 | 156 | 156 | |||||||
Total | 438 | 422 | 397 | 417 | 418 | 403 | 403 | |||||||
Over/(Under) Lifting of Crude Oil (MB/D) | 12 | 21 | (5) | 8 | 10 | 9 | 9 | |||||||
Natural Gas (MMCF/D) | ||||||||||||||
Alaska | 92 | 83 | 105 | 95 | 94 | 94 | 94 | |||||||
Lower 48 | 2,027 | 2,012 | 1,938 | 1,736 | 1,927 | 1,705 | 1,705 | |||||||
Total | 2,119 | 2,095 | 2,043 | 1,831 | 2,021 | 1,799 | 1,799 | |||||||
Average Realized Prices | ||||||||||||||
Crude Oil and NGL ($/BBL) | ||||||||||||||
Alaska | 41.75 | 55.25 | 67.91 | 74.35 | 59.23 | 77.25 | 77.25 | |||||||
Lower 48 | 30.85 | 41.52 | 47.78 | 55.86 | 44.12 | 59.54 | 59.54 | |||||||
Total U.S. | 37.68 | 49.86 | 59.13 | 67.06 | 53.21 | 70.40 | 70.40 | |||||||
Natural Gas ($/MCF) | ||||||||||||||
Alaska | 7.69 | 6.38 | 4.87 | 5.22 | 6.25 | 5.28 | 5.28 | |||||||
Lower 48 | 3.76 | 2.97 | 2.98 | 4.03 | 3.42 | 5.21 | 5.21 | |||||||
Total U.S. | 3.82 | 3.00 | 2.99 | 4.05 | 3.45 | 5.21 | 5.21 | |||||||
Kenai, Alaska LNG Sales | ||||||||||||||
Volume (MMCF/D) | 43 | 47 | 82 | 64 | 59 | 56 | 56 | |||||||
Sales price per MCF | 6.29 | 7.20 | 8.29 | 11.02 | 8.45 | 11.70 | 11.70 | |||||||
U.S. Exploration Charges ($ Millions) | ||||||||||||||
Dry holes | 58 | 30 | 49 | 29 | 166 | - | - | |||||||
Lease impairments | 26 | 28 | 27 | 62 | 143 | 22 | 22 | |||||||
Total Noncash Charges | 84 | 58 | 76 | 91 | 309 | 22 | 22 | |||||||
Other (G&G and Lease rentals) | 30 | 35 | 58 | 72 | 195 | 32 | 32 | |||||||
Total U.S. Exploration Charges | 114 | 93 | 134 | 163 | 504 | 54 | 54 | |||||||
Alaska Only | 34 | 8 | 11 | 17 | 70 | 7 | 7 | |||||||
DD&A ($ Millions) | ||||||||||||||
Alaska | 173 | 185 | 167 | 169 | 694 | 152 | 152 | |||||||
Lower 48 | 651 | 683 | 671 | 642 | 2,647 | 585 | 585 | |||||||
Total U.S. | 824 | 868 | 838 | 811 | 3,341 | 737 | 737 |
Page 6 of 12
INTERNATIONAL E&P | ||||||||||||||
2009 | 2010 | |||||||||||||
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) | 527 | 389 | 651 | 534 | 2,101 | 1,075 | 1,075 | |||||||
Production | ||||||||||||||
Total, Including Equity Affiliates (MBOE/D) | 1,134 | 1,101 | 1,054 | 1,106 | 1,099 | 1,125 | 1,125 | |||||||
Crude Oil and NGL (MB/D) | ||||||||||||||
Consolidated operations | ||||||||||||||
Canada | 40 | 41 | 39 | 39 | 40 | 41 | 41 | |||||||
Norway | 172 | 155 | 150 | 160 | 160 | 152 | 152 | |||||||
United Kingdom | 87 | 85 | 71 | 81 | 81 | 83 | 83 | |||||||
Australia/Timor-Leste | 35 | 35 | 36 | 36 | 35 | 34 | 34 | |||||||
China | 40 | 41 | 53 | 60 | 49 | 71 | 71 | |||||||
Indonesia | 29 | 19 | 12 | 14 | 19 | 17 | 17 | |||||||
Vietnam | 36 | 31 | 27 | 24 | 29 | 22 | 22 | |||||||
Algeria | 16 | 13 | 14 | 14 | 14 | 13 | 13 | |||||||
Libya | 43 | 43 | 45 | 48 | 45 | 46 | 46 | |||||||
Nigeria | 19 | 19 | 19 | 20 | 19 | 19 | 19 | |||||||
Other | 8 | 8 | - | - | 4 | - | - | |||||||
Total consolidated operations | 525 | 490 | 466 | 496 | 495 | 498 | 498 | |||||||
Equity affiliates | 49 | 55 | 59 | 57 | 55 | 57 | 57 | |||||||
Total | 574 | 545 | 525 | 553 | 550 | 555 | 555 | |||||||
Over/(Under) Lifting of Crude Oil (MB/D) | (2) | (20) | 22 | (25) | (7) | 10 | 10 | |||||||
Synthetic Oil (MB/D) | ||||||||||||||
Consolidated operations--Canada | 23 | 16 | 25 | 27 | 23 | 22 | 22 | |||||||
Bitumen (MB/D) | ||||||||||||||
Consolidated operations--Canada | 7 | 6 | 8 | 7 | 7 | 8 | 8 | |||||||
Equity affiliates | 35 | 41 | 45 | 52 | 43 | 52 | 52 | |||||||
Total | 42 | 47 | 53 | 59 | 50 | 60 | 60 | |||||||
Natural Gas (MMCF/D) | ||||||||||||||
Consolidated operations | ||||||||||||||
Canada | 1,066 | 1,174 | 1,063 | 945 | 1,062 | 1,021 | 1,021 | |||||||
Norway | 259 | 196 | 188 | 225 | 217 | 249 | 249 | |||||||
United Kingdom | 742 | 653 | 514 | 728 | 659 | 712 | 712 | |||||||
Australia/Timor-Leste | 247 | 258 | 266 | 233 | 251 | 239 | 239 | |||||||
Indonesia | 449 | 451 | 443 | 450 | 447 | 462 | 462 | |||||||
Vietnam | 17 | 12 | 17 | 16 | 15 | 15 | 15 | |||||||
Libya | 8 | 8 | 12 | 12 | 10 | 8 | 8 | |||||||
Nigeria | 104 | 110 | 112 | 116 | 111 | 130 | 130 | |||||||
Total consolidated operations | 2,892 | 2,862 | 2,615 | 2,725 | 2,772 | 2,836 | 2,836 | |||||||
Equity affiliates | 76 | 94 | 88 | 76 | 84 | 91 | 91 | |||||||
Total | 2,968 | 2,956 | 2,703 | 2,801 | 2,856 | 2,927 | 2,927 | |||||||
Darwin, Australia LNG Sales (MMCF/D) | 438 | 430 | 453 | 391 | 428 | 401 | 401 |
Page 7 of 12
INTERNATIONAL E&P (continued) | ||||||||||||||
2009 | 2010 | |||||||||||||
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 ($/BBL) | ||||||||||||||
Consolidated operations | ||||||||||||||
Canada | 34.61 | 37.75 | 44.77 | 50.24 | 41.76 | 57.58 | 57.58 | |||||||
Norway | 45.55 | 57.49 | 67.32 | 72.23 | 60.34 | 75.47 | 75.47 | |||||||
United Kingdom | 42.41 | 52.63 | 64.45 | 69.43 | 56.19 | 74.03 | 74.03 | |||||||
Australia/Timor-Leste | 41.33 | 42.77 | 54.11 | 62.23 | 50.30 | 68.73 | 68.73 | |||||||
China | 38.17 | 57.72 | 65.97 | 73.72 | 61.33 | 74.89 | 74.89 | |||||||
Indonesia | 42.35 | 52.36 | 76.41 | 73.63 | 56.28 | 67.65 | 67.65 | |||||||
Vietnam | 42.75 | 58.00 | 70.27 | 79.64 | 60.97 | 80.92 | 80.92 | |||||||
Algeria | 46.05 | 61.26 | 64.67 | 76.81 | 61.75 | 74.39 | 74.39 | |||||||
Libya | 44.22 | 57.30 | 67.93 | 73.99 | 62.38 | 76.17 | 76.17 | |||||||
Nigeria | 43.86 | 49.45 | 63.36 | 68.15 | 56.55 | 71.76 | 71.76 | |||||||
Other | 32.01 | - | - | - | 32.01 | - | - | |||||||
Total consolidated operations | 42.67 | 53.52 | 64.12 | 70.07 | 57.40 | 73.08 | 73.08 | |||||||
Equity affiliates | 39.92 | 55.44 | 64.31 | 70.69 | 58.23 | 71.30 | 71.30 | |||||||
Total | 42.43 | 53.72 | 64.14 | 70.14 | 57.48 | 72.91 | 72.91 | |||||||
Synthetic Oil ($/BBL) | ||||||||||||||
Consolidated operations--Canada | 45.69 | 58.71 | 66.42 | 73.35 | 62.01 | 78.67 | 78.67 | |||||||
Bitumen ($/BBL) | ||||||||||||||
Consolidated operations--Canada | 21.10 | 40.65 | 48.35 | 47.44 | 39.67 | 59.18 | 59.18 | |||||||
Equity affiliates | 24.64 | 46.90 | 49.81 | 55.07 | 45.69 | 56.15 | 56.15 | |||||||
Total | 24.04 | 46.10 | 49.59 | 54.14 | 44.84 | 56.57 | 56.57 | |||||||
Natural Gas ($/MCF) | ||||||||||||||
Consolidated operations | ||||||||||||||
Canada | 4.13 | 2.84 | 2.53 | 3.97 | 3.33 | 4.63 | 4.63 | |||||||
Norway | 9.68 | 7.09 | 6.24 | 6.64 | 7.52 | 7.08 | 7.08 | |||||||
United Kingdom | 8.75 | 5.60 | 5.74 | 5.81 | 6.57 | 6.66 | 6.66 | |||||||
Australia/Timor-Leste | 1.16 | 0.66 | 0.82 | 1.16 | 0.95 | 1.06 | 1.06 | |||||||
Indonesia | 4.74 | 5.91 | 7.15 | 7.72 | 6.39 | 7.49 | 7.49 | |||||||
Vietnam | 1.14 | 1.13 | 1.15 | 1.17 | 1.15 | 1.17 | 1.17 | |||||||
Libya | 0.09 | 0.09 | 0.09 | 0.09 | 0.09 | 0.09 | 0.09 | |||||||
Nigeria | 0.84 | 0.83 | 0.73 | 3.92 | 1.62 | 2.04 | 2.04 | |||||||
Total consolidated operations | 5.87 | 4.27 | 4.26 | 5.34 | 4.94 | 5.71 | 5.71 | |||||||
Equity affiliates | 2.10 | 2.10 | 2.57 | 2.62 | 2.35 | 2.67 | 2.67 | |||||||
Total | 5.76 | 4.19 | 4.20 | 5.26 | 4.86 | 5.61 | 5.61 | |||||||
International Exploration Charges ($ Millions) | ||||||||||||||
Dry holes | 22 | 36 | 113 | 22 | 193 | 93 | 93 | |||||||
Lease impairments | 17 | 21 | 44 | 22 | 104 | 18 | 18 | |||||||
Total Noncash Charges | 39 | 57 | 157 | 44 | 297 | 111 | 111 | |||||||
Other (G&G and Lease rentals) | 72 | 93 | 95 | 121 | 381 | 218 | 218 | |||||||
Total International Exploration Charges | 111 | 150 | 252 | 165 | 678 | 329 | 329 | |||||||
DD&A ($ Millions) | 1,170 | 1,259 | 1,244 | 1,323 | 4,996 | 1,334 | 1,334 |
Page 8 of 12
R&M | ||||||||||||||
2009 | 2010 | |||||||||||||
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) | 205 | (52) | 99 | (215) | 37 | (4) | (4) | |||||||
United States ($ Millions) | 98 | (38) | 73 | (325) | (192) | 12 | 12 | |||||||
International ($ Millions) | 107 | (14) | 26 | 110 | 229 | (16) | (16) | |||||||
Worldwide - Including Net Share of Equity Affiliates | ||||||||||||||
Crude Oil Charge Input (MB/D) | 2,156 | 2,337 | 2,382 | 2,028 | 2,226 | 2,066 | 2,066 | |||||||
Total Charge Input (MB/D) | 2,296 | 2,517 | 2,553 | 2,192 | 2,389 | 2,226 | 2,226 | |||||||
Crude Oil Capacity Utilization (%) | 81% | 88% | 90% | 76% | 84% | 78% | 78% | |||||||
Clean Product Yield (%) | 80% | 82% | 81% | 84% | 82% | 84% | 84% | |||||||
Refined Products Production (MB/D) | ||||||||||||||
Gasoline | 916 | 1,042 | 1,054 | 940 | 988 | 986 | 986 | |||||||
Distillates | 899 | 974 | 979 | 851 | 926 | 834 | 834 | |||||||
Other | 477 | 501 | 532 | 414 | 481 | 418 | 418 | |||||||
Total | 2,292 | 2,517 | 2,565 | 2,205 | 2,395 | 2,238 | 2,238 | |||||||
Petroleum Products Sales (MB/D) | ||||||||||||||
Gasoline | 1,161 | 1,337 | 1,342 | 1,250 | 1,273 | 1,249 | 1,249 | |||||||
Distillates | 1,092 | 1,213 | 1,204 | 1,166 | 1,169 | 1,089 | 1,089 | |||||||
Other | 470 | 562 | 594 | 503 | 532 | 471 | 471 | |||||||
Total | 2,723 | 3,112 | 3,140 | 2,919 | 2,974 | 2,809 | 2,809 | |||||||
Market Indicators | ||||||||||||||
U.S. East Coast Crack Spread ($/BBL) | 10.43 | 9.13 | 8.14 | 6.19 | 8.47 | 8.21 | 8.21 | |||||||
U.S. Gulf Coast Crack Spread ($/BBL) | 9.06 | 8.39 | 6.74 | 4.46 | 7.16 | 6.70 | 6.70 | |||||||
U.S. Group Central Crack Spread ($/BBL) | 9.62 | 9.16 | 8.06 | 5.52 | 8.09 | 6.82 | 6.82 | |||||||
U.S. West Coast Crack Spread ($/BBL) | 15.79 | 15.11 | 13.89 | 8.75 | 13.38 | 9.72 | 9.72 | |||||||
U.S. Weighted 3:2:1 Crack Spread ($/BBL) | 10.88 | 10.12 | 8.81 | 5.95 | 8.94 | 7.68 | 7.68 | |||||||
NW Europe Crack Spread ($/BBL) | 10.81 | 9.42 | 8.44 | 8.14 | 9.20 | 9.25 | 9.25 | |||||||
Singapore 3:1:2 Crack Spread ($/BBL) | 9.45 | 7.88 | 7.63 | 5.83 | 7.70 | 10.17 | 10.17 | |||||||
Realized Margins | ||||||||||||||
Refining Margin ($/BBL) | ||||||||||||||
U.S. | 7.55 | 4.85 | 4.69 | 2.42 | 4.83 | 5.62 | 5.62 | |||||||
International | 6.23 | 3.01 | 3.66 | 6.24 | 4.73 | 7.64 | 7.64 | |||||||
Integrated Margin ($/BBL) | ||||||||||||||
U.S. | 8.23 | 5.40 | 5.92 | 3.48 | 5.71 | 6.07 | 6.07 | |||||||
International | 8.30 | 4.61 | 6.16 | 8.92 | 6.93 | 10.51 | 10.51 | |||||||
DD&A ($ Millions) | 211 | 198 | 220 | 227 | 856 | 214 | 214 | |||||||
Foreign Currency Gains | ||||||||||||||
(Losses) After-Tax ($ Millions) | (10) | 49 | 2 | (5) | 36 | (47) | (47) | |||||||
Turnaround Expense ($ Millions) | 207 | 121 | 62 | 145 | 535 | 72 | 72 |
Page 9 of 12
R&M (continued) | ||||||||||||||
2009 | 2010 | |||||||||||||
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) | 346 | 376 | 393 | 374 | 372 | 379 | 379 | |||||||
Total Charge Input (MB/D) | 363 | 427 | 443 | 410 | 411 | 406 | 406 | |||||||
Crude Oil Capacity Utilization (%) | 82% | 89% | 93% | 88% | 88% | 90% | 90% | |||||||
Clean Product Yield (%) | 83% | 87% | 89% | 89% | 87% | 89% | 89% | |||||||
U.S. Gulf Coast | ||||||||||||||
Crude Oil Charge Input (MB/D) | 470 | 711 | 660 | 554 | 599 | 641 | 641 | |||||||
Total Charge Input (MB/D) | 534 | 773 | 725 | 629 | 664 | 731 | 731 | |||||||
Crude Oil Capacity Utilization (%) | 64% | 97% | 90% | 75% | 82% | 87% | 87% | |||||||
Clean Product Yield (%) | 81% | 83% | 80% | 81% | 81% | 82% | 82% | |||||||
Western U.S. | ||||||||||||||
Crude Oil Charge Input (MB/D) | 402 | 380 | 397 | 386 | 391 | 374 | 374 | |||||||
Total Charge Input (MB/D) | 424 | 405 | 423 | 412 | 416 | 389 | 389 | |||||||
Crude Oil Capacity Utilization (%) | 96% | 91% | 95% | 93% | 94% | 90% | 90% | |||||||
Clean Product Yield (%) | 79% | 80% | 81% | 84% | 81% | 82% | 82% | |||||||
Central U.S. - Consolidated | ||||||||||||||
Crude Oil Charge Input (MB/D) | 172 | 184 | 179 | 152 | 172 | 170 | 170 | |||||||
Total Charge Input (MB/D) | 175 | 188 | 182 | 154 | 175 | 172 | 172 | |||||||
Crude Oil Capacity Utilization (%) | 92% | 98% | 96% | 81% | 92% | 91% | 91% | |||||||
Clean Product Yield (%) | 90% | 91% | 93% | 91% | 91% | 91% | 91% | |||||||
Central U.S. - Equity Affiliates - Net Share* | ||||||||||||||
Crude Oil Charge Input (MB/D) | 199 | 202 | 212 | 174 | 197 | 178 | 178 | |||||||
Total Charge Input (MB/D) | 213 | 215 | 224 | 186 | 210 | 189 | 189 | |||||||
Crude Oil Capacity Utilization (%) | 88% | 89% | 94% | 77% | 87% | 79% | 79% | |||||||
Clean Product Yield (%) | 81% | 84% | 85% | 82% | 83% | 83% | 83% | |||||||
Total U.S. | ||||||||||||||
Crude Oil Charge Input (MB/D) | 1,589 | 1,852 | 1,841 | 1,640 | 1,731 | 1,742 | 1,742 | |||||||
Total Charge Input (MB/D) | 1,709 | 2,008 | 1,997 | 1,791 | 1,876 | 1,887 | 1,887 | |||||||
Crude Oil Capacity Utilization (%) | 80% | 93% | 93% | 83% | 87% | 88% | 88% | |||||||
Clean Product Yield (%) | 82% | 84% | 84% | 85% | 84% | 84% | 84% | |||||||
Refined Products Production (MB/D) | ||||||||||||||
Gasoline | 755 | 904 | 912 | 816 | 847 | 873 | 873 | |||||||
Distillates | 623 | 748 | 725 | 665 | 691 | 679 | 679 | |||||||
Other | 338 | 366 | 380 | 326 | 353 | 349 | 349 | |||||||
Total | 1,716 | 2,018 | 2,017 | 1,807 | 1,891 | 1,901 | 1,901 | |||||||
Petroleum Products Sales (MB/D) | ||||||||||||||
Gasoline | 1,037 | 1,180 | 1,188 | 1,112 | 1,130 | 1,092 | 1,092 | |||||||
Distillates | 749 | 924 | 906 | 853 | 858 | 807 | 807 | |||||||
Other | 328 | 378 | 420 | 342 | 367 | 366 | 366 | |||||||
Total | 2,114 | 2,482 | 2,514 | 2,307 | 2,355 | 2,265 | 2,265 | |||||||
*Represents 50 percent share of the Borger Refinery and Wood River Refinery. | ||||||||||||||
International R&M | ||||||||||||||
International - Consolidated* | ||||||||||||||
Crude Oil Charge Input (MB/D) | 453 | 364 | 422 | 288 | 381 | 276 | 276 | |||||||
Total Charge Input (MB/D) | 465 | 380 | 430 | 296 | 393 | 288 | 288 | |||||||
Crude Oil Capacity Utilization (%) | 82% | 66% | 76% | 52% | 69% | 50% | 50% | |||||||
Clean Product Yield (%) | 72% | 69% | 69% | 76% | 71% | 80% | 80% | |||||||
International - Equity Affiliates - Net Share** | ||||||||||||||
Crude Oil Charge Input (MB/D) | 114 | 121 | 119 | 100 | 114 | 48 | 48 | |||||||
Total Charge Input (MB/D) | 122 | 129 | 126 | 105 | 120 | 51 | 51 | |||||||
Crude Oil Capacity Utilization (%) | 96% | 102% | 101% | 84% | 95% | 41% | 41% | |||||||
Clean Product Yield (%) | 87% | 81% | 85% | 86% | 85% | 81% | 81% | |||||||
Total International | ||||||||||||||
Crude Oil Charge Input (MB/D) | 567 | 485 | 541 | 388 | 495 | 324 | 324 | |||||||
Total Charge Input (MB/D) | 587 | 509 | 556 | 401 | 513 | 339 | 339 | |||||||
Crude Oil Capacity Utilization (%) | 85% | 72% | 81% | 58% | 74% | 48% | 48% | |||||||
Clean Product Yield (%) | 75% | 72% | 72% | 79% | 74% | 81% | 81% | |||||||
Refined Products Production (MB/D) | ||||||||||||||
Gasoline | 161 | 138 | 142 | 124 | 141 | 113 | 113 | |||||||
Distillates | 276 | 226 | 254 | 186 | 235 | 155 | 155 | |||||||
Other | 139 | 135 | 152 | 88 | 128 | 69 | 69 | |||||||
Total | 576 | 499 | 548 | 398 | 504 | 337 | 337 | |||||||
Petroleum Products Sales (MB/D) | ||||||||||||||
Gasoline | 124 | 157 | 154 | 138 | 143 | 157 | 157 | |||||||
Distillates | 343 | 289 | 298 | 313 | 311 | 282 | 282 | |||||||
Other | 142 | 184 | 174 | 161 | 165 | 105 | 105 | |||||||
Total | 609 | 630 | 626 | 612 | 619 | 544 | 544 |
*Represents our Humber Refinery in the United Kingdom, the Whitegate Refinery in Ireland, and our Wilhelmshaven Refinery in Germany. |
**Represents 18.75 percent interest in a refinery complex in Karlsruhe, Germany, and 47 percent interest in a refinery in Melaka, Malaysia. |
Page 10 of 12
LUKOIL INVESTMENT | |||||||||||
2009 | 2010 | ||||||||||
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) | 8 | 243 | 512 | 456 | 1,219 | 387 | 387 | ||||
Upstream | |||||||||||
Production | |||||||||||
Net crude oil production (MB/D) | 394 | 385 | 386 | 387 | 388 | 391 | 391 | ||||
Net natural gas production (MMCF/D) | 334 | 297 | 273 | 276 | 295 | 312 | 312 | ||||
Total (MBOE/D) | 450 | 435 | 432 | 433 | 437 | 443 | 443 | ||||
Industry Prices | |||||||||||
Crude Oil ($/BBL) | |||||||||||
Urals crude (CIF Mediterranean) (one-quarter lag) | 54.66 | 43.73 | 58.49 | 67.89 | 56.19 | 74.26 | 74.26 | ||||
Downstream | |||||||||||
Refinery Throughput | |||||||||||
Crude Processed (MB/D) | 225 | 231 | 250 | 255 | 240 | 246 | 246 | ||||
Foreign Currency Gains | |||||||||||
(Losses) After-Tax ($ Millions) | 2 | 12 | 5 | 1 | 20 | (2) | (2) |
Note: Certain items in 2009 have been recast to reflect the retrospective application of a change in accounting principle related to our LUKOIL investment. The basis for recording equity earnings was changed from estimating LUKOIL's current quarter earnings to recording LUKOIL's actual results on a one-quarter lag basis. |
MIDSTREAM | |||||||||||
| 2009 | 2010 | |||||||||
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) | 123 | 31 | 62 | 97 | 313 | 77 | 77 | ||||
U.S. Equity Affiliate ($ Millions)* | 90 | 12 | 26 | 55 | 183 | 53 | 53 | ||||
NGL Extracted (MB/D) | |||||||||||
Consolidated | |||||||||||
United States | - | - | - | - | - | - | - | ||||
International | - | - | - | - | - | - | - | ||||
Equity Affiliates | |||||||||||
United States* | 165 | 180 | 186 | 185 | 179 | 176 | 176 | ||||
International | 7 | 8 | 8 | 9 | 8 | 10 | 10 | ||||
Total | 172 | 188 | 194 | 194 | 187 | 186 | 186 | ||||
*Represents 50 percent interest in DCP Midstream. | |||||||||||
NGL Fractionated (MB/D) | |||||||||||
United States* | 144 | 157 | 147 | 147 | 149 | 140 | 140 | ||||
International | 16 | 17 | 17 | 17 | 17 | 19 | 19 | ||||
Total | 160 | 174 | 164 | 164 | 166 | 159 | 159 | ||||
*Excludes DCP Midstream. | |||||||||||
Product Prices | |||||||||||
Weighted Average NGL ($/BBL)* | |||||||||||
Consolidated | 26.04 | 29.99 | 34.66 | 43.83 | 33.63 | 48.93 | 48.93 | ||||
DCP Midstream | 23.86 | 26.02 | 28.89 | 40.44 | 29.80 | 45.65 | 45.65 | ||||
*Prices are based on index prices from the Mont Belvieu and Conway market hubs that are weighted by natural gas liquids component and location mix. | |||||||||||
DD&A ($ Millions) | 2 | 1 | 1 | 2 | 6 | 1 | 1 |
Page 11 of 12
CHEMICALS | |||||||||||
2009 | 2010 | ||||||||||
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) | 23 | 67 | 104 | 54 | 248 | 110 | 110 | ||||
Industry Margins (Cents/Lb)* | |||||||||||
Ethylene industry cash margin | 4.7 | 3.0 | 5.2 | 4.0 | 4.2 | 18.2 | 18.2 | ||||
HDPE industry contract sales margin | 18.2 | 24.5 | 27.6 | 22.3 | 23.1 | 13.5 | 13.5 | ||||
Styrene industry contract sales margin | 14.8 | 13.9 | 11.5 | 11.2 | 12.8 | 10.3 | 10.3 |
*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 | |||||||||||
2009 | 2010 | ||||||||||
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) | - | 2 | (2) | 3 | 3 | 6 | 6 | ||||
Detail of Net Income (Loss) | |||||||||||
Attributable to ConocoPhillips ($ Millions) | |||||||||||
Power | 24 | 27 | 22 | 32 | 105 | 29 | 29 | ||||
Other | (24) | (25) | (24) | (29) | (102) | (23) | (23) | ||||
Total | - | 2 | (2) | 3 | 3 | 6 | 6 | ||||
Foreign Currency Gains | |||||||||||
(Losses) After-Tax ($ Millions) | (1) | 4 | (1) | - | 2 | - | - |
CORPORATE AND OTHER | |||||||||||
2009 | 2010 | ||||||||||
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) | (259) | (157) | (283) | (311) | (1,010) | (310) | (310) | ||||
Detail of Net Income (Loss) | |||||||||||
Attributable to ConocoPhillips ($ Millions) | |||||||||||
Net interest expense | (190) | (175) | (245) | (241) | (851) | (222) | (222) | ||||
Corporate overhead | (41) | (31) | (5) | (31) | (108) | (36) | (36) | ||||
Other | (28) | 49 | (33) | (39) | (51) | (52) | (52) | ||||
Total | (259) | (157) | (283) | (311) | (1,010) | (310) | (310) | ||||
Before-Tax Net Interest Expense ($ Millions) | |||||||||||
Interest expense | (387) | (360) | (426) | (447) | (1,620) | (383) | (383) | ||||
Capitalized interest | 118 | 131 | 129 | 109 | 487 | 119 | 119 | ||||
Interest revenue | 40 | 10 | 9 | 30 | 89 | 6 | 6 | ||||
Premium on early debt retirement | (2) | - | - | - | (2) | - | - | ||||
Total | (231) | (219) | (288) | (308) | (1,046) | (258) | (258) | ||||
Foreign Currency Gains | |||||||||||
(Losses) After-Tax ($ Millions) | (1) | 79 | 18 | 1 | 97 | (19) | (19) | ||||
Debt | |||||||||||
Total Debt ($ Millions) | 29,379 | 30,364 | 30,458 | 28,653 | 28,653 | 28,988 | 28,988 | ||||
Debt-to-Capital Ratio (%) | 34% | 34% | 33% | 31% | 31% | 31% | 31% | ||||
Equity ($ Millions) | 56,153 | 59,528 | 61,585 | 62,613 | 62,613 | 64,236 | 64,236 |
Note: Certain items in 2009 have been recast to reflect the retrospective application of a change in accounting principle related to our LUKOIL investment. The basis for recording equity earnings was changed from estimating LUKOIL's current quarter earnings to recording LUKOIL's actual results on a one-quarter lag basis. |
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