ConocoPhillips (COP) 8-K ConocoPhillips Reports Fourth-Quarter and Full-Year 2016 Results; On Track to Deliver 2017 Operating Plan and Strategic Priorities

Exhibit 99.2

	Fourth-Quarter 2016 Detailed Supplemental Information
	2015															2016
	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		7,716			8,293			7,262			6,293			29,564			5,121			5,348			6,415			6,809			23,693
Equity in earnings (losses) of affiliates		205			258			223			(31	)		655			(149	)		80			(60	)		181			52
Gain on dispositions		52			52			18			469			591			23			128			51			158			360
Other income		29			57			4			35			125			20			19			110			106			255
Total Revenues and Other Income		8,002			8,660			7,507			6,766			30,935			5,015			5,575			6,516			7,254			24,360
Costs and Expenses
Purchased commodities		3,237			3,230			3,269			2,690			12,426			2,225			2,002			2,819			2,948			9,994
Production and operating expenses		1,802			1,798			1,834			1,582			7,016			1,354			1,445			1,526			1,342			5,667
Selling, general and administrative expenses		159			218			293			283			953			186			167			203			167			723
Exploration expenses		482			549			1,061			2,100			4,192			505			610			457			343			1,915
Depreciation, depletion and amortization		2,131			2,329			2,271			2,382			9,113			2,247			2,329			2,425			2,061			9,062
Impairments		16			78			24			2,127			2,245			136			62			123			(182	)		139
Taxes other than income taxes		224			225			206			246			901			180			197			161			201			739
Accretion on discounted liabilities		121			122			122			118			483			109			112			108			96			425
Interest and debt expense		202			210			240			268			920			281			312			335			317			1,245
Foreign currency transaction (gains) losses		(16	)		(8	)		(72	)		21			(75	)		16			(17	)		13			(31	)		(19	)
Total Costs and Expenses		8,358			8,751			9,248			11,817			38,174			7,239			7,219			8,170			7,262			29,890
Loss before income taxes		(356	)		(91	)		(1,741	)		(5,051	)		(7,239	)		(2,224	)		(1,644	)		(1,654	)		(8	)		(5,530	)
Income tax provision (benefit)		(642	)		73			(685	)		(1,614	)		(2,868	)		(768	)		(586	)		(628	)		11			(1,971	)
Net Income (Loss)		286			(164	)		(1,056	)		(3,437	)		(4,371	)		(1,456	)		(1,058	)		(1,026	)		(19	)		(3,559	)
Less: net income attributable to noncontrolling interests		(14	)		(15	)		(15	)		(13	)		(57	)		(13	)		(13	)		(14	)		(16	)		(56	)
Net Income (Loss) Attributable to ConocoPhillips		272			(179	)		(1,071	)		(3,450	)		(4,428	)		(1,469	)		(1,071	)		(1,040	)		(35	)		(3,615	)
Net Income (Loss) Attributable to ConocoPhillips
Per Share of Common Stock (dollars)
Basic		0.22			(0.15	)		(0.87	)		(2.78	)		(3.58	)		(1.18	)		(0.86	)		(0.84	)		(0.03	)		(2.91	)
Diluted		0.22			(0.15	)		(0.87	)		(2.78	)		(3.58	)		(1.18	)		(0.86	)		(0.84	)		(0.03	)		(2.91	)
Average Common Shares Outstanding (in thousands)*
Basic		1,240,791			1,241,026			1,242,125			1,243,699			1,241,919			1,244,557			1,244,892			1,245,961			1,246,337			1,245,440
Diluted		1,245,531			1,241,026			1,242,125			1,243,699			1,241,919			1,244,557			1,244,892			1,245,961			1,246,337			1,245,440
*Ending Common Shares Outstanding is 1,237,269 as of Dec. 31, 2016, compared with 1,239,027 as of Sep. 30, 2016.
INCOME (LOSS) BEFORE INCOME TAXES
Alaska		225			305			53			(650	)		(67	)		(52	)		98			36			179			261
Lower 48		(637	)		(460	)		(1,320	)		(634	)		(3,051	)		(1,279	)		(1,213	)		(767	)		(327	)		(3,586	)
Canada		(218	)		(38	)		(211	)		(799	)		(1,266	)		(418	)		(238	)		(442	)		(220	)		(1,318	)
Europe and North Africa		172			102			(30	)		(689	)		(445	)		(146	)		14			(9	)		488			347
Asia Pacific and Middle East		572			521			310			(1,342	)		61			89			157			19			305			570
Other International		(145	)		(315	)		(67	)		(522	)		(1,049	)		(32	)		(38	)		(62	)		77			(55	)
Corporate and Other		(325	)		(206	)		(476	)		(415	)		(1,422	)		(386	)		(424	)		(429	)		(510	)		(1,749	)
Consolidated		(356	)		(91	)		(1,741	)		(5,051	)		(7,239	)		(2,224	)		(1,644	)		(1,654	)		(8	)		(5,530	)
EFFECTIVE INCOME TAX RATES
Alaska*		35.2	%		36.3	%		1.3	%		40.3	%		105.9	%		96.4	%		-50.1	%		-64.0	%		35.7	%		-22.5	%
Lower 48		36.5	%		36.3	%		35.4	%		39.7	%		36.7	%		35.8	%		36.5	%		36.0	%		46.4	%		37.0	%
Canada		27.6	%		-343.5	%		31.4	%		28.0	%		17.6	%		29.8	%		26.3	%		28.9	%		30.9	%		29.1	%
Europe and North Africa		-269.7	%		64.4	%		83.7	%		62.6	%		192.1	%		65.3	%		-41.6	%		1930.7	%		46.4	%		-13.3	%
Asia Pacific and Middle East		28.6	%		34.0	%		11.8	%		-6.7	%		758.7	%		90.8	%		46.1	%		478.6	%		20.0	%		53.6	%
Other International		36.5	%		53.2	%		37.9	%		40.3	%		43.5	%		24.3	%		24.3	%		23.2	%		-10.8	%		71.3	%
Corporate and Other		23.3	%		36.1	%		28.9	%		78.2	%		43.1	%		29.1	%		21.2	%		24.7	%		22.1	%		24.1	%
Consolidated		179.8	%		-81.7	%		39.3	%		32.0	%		39.6	%		34.5	%		35.6	%		38.0	%		-113.2	%		35.6	%
*Alaska including taxes other than income taxes.		47.0	%		49.9	%		56.4	%		23.1	%		98.6	%		61.2	%		15.5	%		36.4	%		55.2	%		38.5	%

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	2015															2016
	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			YTD			1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			YTD
$ Millions
EARNINGS BY SEGMENT
Alaska		145			195			53			(389	)		4			(2	)		147			59			115			319
Lower 48		(405	)		(293	)		(852	)		(382	)		(1,932	)		(820	)		(771	)		(491	)		(175	)		(2,257	)
Canada		(158	)		(166	)		(145	)		(575	)		(1,044	)		(294	)		(175	)		(314	)		(152	)		(935	)
Europe and North Africa		636			36			(5	)		(258	)		409			(51	)		20			163			262			394
Asia Pacific and Middle East		395			328			258			(1,444	)		(463	)		(5	)		72			(87	)		229			209
Other International		(92	)		(147	)		(42	)		(312	)		(593	)		(24	)		(29	)		(47	)		84			(16	)
Corporate and Other		(249	)		(132	)		(338	)		(90	)		(809	)		(273	)		(335	)		(323	)		(398	)		(1,329	)
Consolidated		272			(179	)		(1,071	)		(3,450	)		(4,428	)		(1,469	)		(1,071	)		(1,040	)		(35	)		(3,615	)
SPECIAL ITEMS
Alaska		(1	)		-			(10	)		(467	)		(478	)		-			93			(6	)		(1	)		86
Lower 48		(16	)		-			(389	)		236			(169	)		(172	)		(148	)		(88	)		44			(364	)
Canada		(18	)		(106	)		(27	)		(197	)		(348	)		-			-			(30	)		(51	)		(81	)
Europe and North Africa		551			(34	)		(7	)		(275	)		235			(60	)		-			160			180			280
Asia Pacific and Middle East		(1	)		-			(44	)		(1,503	)		(1,548	)		-			-			(174	)		47			(127	)
Other International		-			(79	)		(1	)		(239	)		(319	)		-			-			-			138			138
Corporate and Other		(21	)		(41	)		(127	)		112			(77	)		(58	)		(31	)		(76	)		(74	)		(239	)
Consolidated		494			(260	)		(605	)		(2,333	)		(2,704	)		(290	)		(86	)		(214	)		283			(307	)
Detailed reconciliation of these items is provided on page 3.
ADJUSTED EARNINGS
Alaska		146			195			63			78			482			(2	)		54			65			116			233
Lower 48		(389	)		(293	)		(463	)		(618	)		(1,763	)		(648	)		(623	)		(403	)		(219	)		(1,893	)
Canada		(140	)		(60	)		(118	)		(378	)		(696	)		(294	)		(175	)		(284	)		(101	)		(854	)
Europe and North Africa		85			70			2			17			174			9			20			3			82			114
Asia Pacific and Middle East		396			328			302			59			1,085			(5	)		72			87			182			336
Other International		(92	)		(68	)		(41	)		(73	)		(274	)		(24	)		(29	)		(47	)		(54	)		(154	)
Corporate and Other		(228	)		(91	)		(211	)		(202	)		(732	)		(215	)		(304	)		(247	)		(324	)		(1,090	)
Consolidated		(222	)		81			(466	)		(1,117	)		(1,724	)		(1,179	)		(985	)		(826	)		(318	)		(3,308	)
ADJUSTED EFFECTIVE INCOME TAX RATES
Alaska		35.2	%		36.3	%		8.4	%		-2.8	%		28.7	%		96.4	%		-28.5	%		-41.6	%		35.9	%		-7.7	%
Lower 48		36.5	%		36.4	%		35.2	%		38.8	%		37.0	%		36.0	%		35.6	%		36.1	%		36.6	%		36.0	%
Canada		28.0	%		22.9	%		32.3	%		27.7	%		28.2	%		29.8	%		26.3	%		27.9	%		32.7	%		28.8	%
Europe and North Africa		55.6	%		59.1	%		124.4	%		655.3	%		50.4	%		135.4	%		-41.6	%		136.9	%		54.1	%		28.3	%
Asia Pacific and Middle East		28.6	%		34.0	%		24.3	%		55.6	%		31.8	%		90.8	%		46.1	%		47.2	%		35.5	%		47.4	%
Other International		36.5	%		35.3	%		37.5	%		37.4	%		36.6	%		24.3	%		24.3	%		23.2	%		23.3	%		23.6	%
Corporate and Other		21.9	%		34.9	%		27.9	%		34.9	%		29.3	%		28.8	%		20.0	%		21.8	%		19.6	%		22.2	%
Consolidated		17.8	%		54.9	%		41.3	%		36.0	%		34.2	%		33.6	%		31.0	%		30.7	%		0.4	%		29.9	%

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	2015															2016
$ Millions	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			YTD			1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			YTD
DETAILED SPECIAL ITEMS
Alaska
Restructuring		(2	)		-			(15	)		(2	)		(19	)		-			-			(10	)		(2	)		(12	)
Impairments		-			-			-			(643	)		(643	)		-			-			-			-			-
Pending claims and settlements		-			-			-			(82	)		(82	)		-			-			-			-			-
Gain (loss) on asset sales		-			-			-			-			-			-			56			-			-			56
Subtotal before income taxes		(2	)		-			(15	)		(727	)		(744	)		-			56			(10	)		(2	)		44
Income tax provision (benefit)*		(1	)		-			(5	)		(260	)		(266	)		-			(37	)		(4	)		(1	)		(42	)
Total		(1	)		-			(10	)		(467	)		(478	)		-			93			(6	)		(1	)		86
Lower 48
Restructuring		(25	)		1			(57	)		(13	)		(94	)		-			-			(35	)		(4	)		(39	)
Impairments		-			-			(240	)		(194	)		(434	)		(266	)		(246	)		-			(69	)		(581	)
Rig termination		-			-			(383	)		-			(383	)		-			-			(134	)		-			(134	)
Depreciation volume adjustment		-			-			75			-			75			-			-			-			-			-
Pending claims and settlements		-			-			-			-			-			-			-			33			-			33
Gain (loss) on asset sales		-			-			-			584			584			-			-			-			-			-
Minnesota iron ore reversionary interest		-			-			-			-			-			-			-			-			92			92
Subtotal before income taxes		(25	)		1			(605	)		377			(252	)		(266	)		(246	)		(136	)		19			(629	)
Income tax provision (benefit)*		(9	)		1			(216	)		141			(83	)		(94	)		(98	)		(48	)		(25	)		(265	)
Total		(16	)		-			(389	)		236			(169	)		(172	)		(148	)		(88	)		44			(364	)
Canada
Gain (loss) on asset sales		-			39			-			(149	)		(110	)		-			-			37			-			37
Impairments		-			-			-			(125	)		(125	)		-			-			(57	)		(70	)		(127	)
Restructuring		(24	)		1			(37	)		(2	)		(62	)		-			-			(28	)		-			(28	)
Subtotal before income taxes		(24	)		40			(37	)		(276	)		(297	)		-			-			(48	)		(70	)		(118	)
Income tax provision (benefit)**		(6	)		146			(10	)		(79	)		51			-			-			(18	)		(19	)		(37	)
Total		(18	)		(106	)		(27	)		(197	)		(348	)		-			-			(30	)		(51	)		(81	)
Europe and North Africa
Restructuring		(19	)		(4	)		(21	)		(3	)		(47	)		-			-			(2	)		(1	)		(3	)
Impairments		-			(66	)		-			(645	)		(711	)		(119	)		-			-			311			192
Gain (loss) on asset sales		-			-			-			(38	)		(38	)		-			-			-			-			-
Subtotal before income taxes		(19	)		(70	)		(21	)		(686	)		(796	)		(119	)		-			(2	)		310			189
Income tax provision (benefit)**		(570	)		(36	)		(14	)		(411	)		(1,031	)		(59	)		-			(162	)		130			(91	)
Total		551			(34	)		(7	)		(275	)		235			(60	)		-			160			180			280
Asia Pacific and Middle East
Restructuring		(1	)		-			(4	)		-			(5	)		-			-			-			-			-
APLNG tax functional currency change		-			-			-			-			-			-			-			(174	)		-			(174	)
Impairments		-			-			(105	)		(1,504	)		(1,609	)		-			-			-			-			-
Subtotal before income taxes		(1	)		-			(109	)		(1,504	)		(1,614	)		-			-			(174	)		-			(174	)
Income tax provision (benefit)****		-			-			(65	)		(1	)		(66	)		-			-			-			(47	)		(47	)
Total		(1	)		-			(44	)		(1,503	)		(1,548	)		-			-			(174	)		47			(127	)
Other International
Impairments		-			(209	)		-			(463	)		(672	)		-			-			-			-			-
Restructuring		-			-			(2	)		(1	)		(3	)		-			-			-			-			-
Gain (loss) on asset sales		-			-			-			58			58			-			-			-			146			146
Subtotal before income taxes		-			(209	)		(2	)		(406	)		(617	)		-			-			-			146			146
Income tax provision (benefit)***		-			(130	)		(1	)		(167	)		(298	)		-			-			-			8			8
Total		-			(79	)		(1	)		(239	)		(319	)		-			-			-			138			138
Corporate and Other
Restructuring		(33	)		(15	)		(105	)		(56	)		(209	)		-			-			(70	)		(6	)		(76	)
Pension settlement expense		-			(52	)		(78	)		(66	)		(196	)		(83	)		(45	)		(23	)		(52	)		(203	)
Tax benefit on interest expense		-			-			-			30			30			-			-			-			-			-
Impairments		-			-			-			-			-			-			-			-			(50	)		(50	)
Pending claims and settlements		-			-			-			(12	)		(12	)		-			-			(20	)		-			(20	)
Subtotal before income taxes		(33	)		(67	)		(183	)		(104	)		(387	)		(83	)		(45	)		(113	)		(108	)		(349	)
Income tax provision (benefit)**		(12	)		(26	)		(56	)		(216	)		(310	)		(25	)		(14	)		(37	)		(34	)		(110	)
Total		(21	)		(41	)		(127	)		112			(77	)		(58	)		(31	)		(76	)		(74	)		(239	)
Total Company		494			(260	)		(605	)		(2,333	)		(2,704	)		(290	)		(86	)		(214	)		283			(307	)

*Includes deferred tax adjustment in 2Q 2016.

**Includes international tax law change for 1Q 2015 and 3Q 2016 in Europe and North Africa and 2Q 2015 in Canada and Corporate.

***Includes tax impact from country exit in 2Q 2015.

****Includes Malaysia deferred tax recognition in 4Q 2016.

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	2015															2016
	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)		286			(164	)		(1,056	)		(3,437	)		(4,371	)		(1,456	)		(1,058	)		(1,026	)		(19	)		(3,559	)
Depreciation, depletion and amortization		2,131			2,329			2,271			2,382			9,113			2,247			2,329			2,425			2,061			9,062
Impairments		16			78			24			2,127			2,245			136			62			123			(182	)		139
Dry hole costs and leasehold impairments		311			402			525			1,827			3,065			360			463			187			174			1,184
Accretion on discounted liabilities		121			122			122			118			483			109			112			108			96			425
Deferred taxes		(637	)		35			(682	)		(1,488	)		(2,772	)		(827	)		(630	)		(695	)		(69	)		(2,221	)
Distributions received greater than equity losses
(undistributed equity earnings)		80			(121	)		(38	)		180			101			252			(30	)		192			(115	)		299
Gain on dispositions		(52	)		(52	)		(18	)		(469	)		(591	)		(23	)		(128	)		(51	)		(158	)		(360	)
Other		(133	)		(321	)		195			580			321			(126	)		109			(33	)		(35	)		(85	)
Net working capital changes		(55	)		(334	)		591			(224	)		(22	)		(251	)		30			50			(310	)		(481	)
Net Cash Provided by Operating Activities		2,068			1,974			1,934			1,596			7,572			421			1,259			1,280			1,443			4,403
Cash Flows from Investing Activities
Capital expenditures and investments		(3,332	)		(2,407	)		(2,174	)		(2,137	)		(10,050	)		(1,821	)		(1,133	)		(916	)		(999	)		(4,869	)
Working capital changes associated with investing activities		(198	)		(480	)		(164	)		(126	)		(968	)		(134	)		(229	)		(38	)		70			(331	)
Proceeds from asset dispositions		173			121			29			1,629			1,952			135			228			56			867			1,286
Net sales (purchases) of short-term investments		-			-			-			-			-			(302	)		(990	)		1,063			178			(51	)
Long-term collections from (advances to) related parties
and other investments		43			300			60			8			411			57			2			110			(63	)		106
Net Cash Provided by (Used in) Investing Activities		(3,314	)		(2,466	)		(2,249	)		(626	)		(8,655	)		(2,065	)		(2,122	)		275			53			(3,859	)
Cash Flows from Financing Activities
Net issuance (repayment) of debt		(57	)		2,493			(30	)		(11	)		2,395			4,530			(763	)		(12	)		(1,412	)		2,343
Issuance of company common stock		(34	)		(12	)		(23	)		(13	)		(82	)		(42	)		(3	)		(7	)		(11	)		(63	)
Repurchase of company common stock		-			-			-			-			-			-			-			-			(126	)		(126	)
Dividends paid		(910	)		(909	)		(922	)		(923	)		(3,664	)		(313	)		(313	)		(314	)		(313	)		(1,253	)
Other		(18	)		(17	)		(15	)		(28	)		(78	)		(38	)		(41	)		(14	)		(44	)		(137	)
Net Cash Provided by (Used in) Financing Activities		(1,019	)		1,555			(990	)		(975	)		(1,429	)		4,137			(1,120	)		(347	)		(1,906	)		764
Effect of Exchange Rate Changes		(133	)		86			(95	)		(40	)		(182	)		5			(20	)		19			(70	)		(66	)
Net Change in Cash and Cash Equivalents		(2,398	)		1,149			(1,400	)		(45	)		(2,694	)		2,498			(2,003	)		1,227			(480	)		1,242
Cash and cash equivalents at beginning of period		5,062			2,664			3,813			2,413			5,062			2,368			4,866			2,863			4,090			2,368
Cash and Cash Equivalents at End of Period		2,664			3,813			2,413			2,368			2,368			4,866			2,863			4,090			3,610			3,610
CAPITAL EXPENDITURES AND INVESTMENTS
Alaska		402			379			304			267			1,352			320			183			199			181			883
Lower 48		1,372			882			756			755			3,765			580			237			175			270			1,262
Canada		455			272			160			368			1,255			254			214			85			145			698
Europe and North Africa		500			367			364			342			1,573			303			271			227			219			1,020
Asia Pacific and Middle East		488			432			551			341			1,812			306			179			215			138			838
Other International		83			43			12			35			173			41			37			3			23			104
Corporate and Other		32			32			27			29			120			17			12			12			23			64
Total capital expenditures and investments		3,332			2,407			2,174			2,137			10,050			1,821			1,133			916			999			4,869

4 of 8

	2015											2016
	1st Qtr		2nd Qtr		3rd Qtr		4th Qtr			YTD		1st Qtr		2nd Qtr			3rd Qtr		4th Qtr			YTD
TOTAL SEGMENTS
Production
Total (MBOED)		1,610		1,595		1,554		1,599			1,589		1,578		1,546			1,557		1,596			1,569
Crude Oil (MBD)
Consolidated operations		603		589		558		598			587		605		577			571		582			584
Equity affiliates		19		19		19		16			18		12		15			15		14			14
Total		622		608		577		614			605		617		592			586		596			598
Over (under) lifting of crude oil (MBD)		17		17		32		(13	)		13		37		(8	)		45		(30	)		11
NGL (MBD)
Consolidated operations		148		152		148		146			149		139		137			140		133			137
Equity affiliates		7		8		8		7			7		7		8			8		10			8
Total		155		160		156		153			156		146		145			148		143			145
Bitumen (MBD)
Consolidated operations		12		12		12		18			13		27		19			41		50			35
Equity affiliates		144		126		145		137			138		139		141			152		163			148
Total		156		138		157		155			151		166		160			193		213			183
Natural Gas (MMCFD)
Consolidated operations		3,498		3,514		3,316		3,362			3,422		3,096		2,991			2,829		2,916			2,958
Equity affiliates		561		622		668		700			638		799		902			948		947			899
Total		4,059		4,136		3,984		4,062			4,060		3,895		3,893			3,777		3,863			3,857
Industry Prices
Crude Oil ($/BBL)
WTI		48.56		57.84		46.37		42.10			48.72		33.27		45.48			44.88		49.18			43.20
WCS		33.86		46.25		33.10		27.61			35.21		19.03		32.18			31.38		34.85			29.36
Brent dated		53.97		61.92		50.26		43.67			52.46		33.89		45.57			45.85		49.46			43.69
JCC ($/BBL)		89.63		55.45		59.63		57.50			65.55		45.97		33.09			41.30		46.14			41.63
Natural Gas ($/MMBTU)
Henry Hub first of month		2.99		2.65		2.77		2.27			2.67		2.09		1.95			2.81		2.98			2.46
Average Realized Prices
Crude Oil ($/BBL)
Consolidated operations		48.02		57.94		46.37		40.29			48.21		31.43		42.63			43.18		46.96			40.78
Equity affiliates		49.14		59.93		47.55		42.23			49.92		33.50		46.35			44.78		50.82			44.11
Total		48.05		58.00		46.41		40.35			48.26		31.47		42.72			43.21		47.05			40.86
NGL ($/BBL)
Consolidated operations		18.54		18.63		14.67		15.50			16.83		11.47		15.76			15.63		20.23			15.72
Equity affiliates		38.80		38.24		31.26		34.92			35.79		27.45		29.18			25.12		39.27			31.13
Total		19.60		19.62		15.54		16.42			17.79		12.30		16.55			16.18		21.82			16.68
Bitumen ($/BBL)
Consolidated operations		19.33		34.60		16.54		12.91			20.13		2.54		13.76			15.73		15.72			12.91
Equity affiliates		16.60		32.66		17.16		9.71			18.58		1.59		18.74			18.39		23.36			15.80
Total		16.82		32.84		17.12		10.07			18.72		1.74		18.11			17.82		21.64			15.27
Natural Gas ($/MCF)
Consolidated operations		4.28		3.80		3.78		3.32			3.80		2.85		2.54			3.11		3.53			3.00
Equity affiliates		7.48		4.42		4.37		3.57			4.83		3.56		2.32			2.90		3.17			2.97
Total		4.72		3.90		3.87		3.36			3.96		2.99		2.49			3.05		3.44			3.00
Exploration Expenses ($ Millions)
Dry holes		271		157		148		565			1,141		180		249			163		126			718
Leasehold impairment		40		245		377		1,262			1,924		180		214			24		48			466
Total noncash expenses		311		402		525		1,827			3,065		360		463			187		174			1,184
Other (G&A, G&G and lease rentals)*		171		147		536		273			1,127		145		147			270		169			731
Total exploration expenses		482		549		1,061		2,100			4,192		505		610			457		343			1,915
*3Q 2015 includes Gulf of Mexico deepwater drillship termination expense.
U.S. exploration expenses		220		153		772		1,119			2,264		443		559			199		76			1,277
International exploration expenses		262		396		289		981			1,928		62		51			258		267			638
DD&A ($ Millions)
Alaska		140		158		183		199			680		207		235			214		211			867
Lower 48		952		1,073		1,062		1,142			4,229		1,048		1,148			1,152		861			4,209
Canada		199		217		200		168			784		191		203			275		218			887
Europe and North Africa		417		481		485		458			1,841		378		320			373		342			1,413
Asia Pacific and Middle East		399		374		313		387			1,473		399		399			386		378			1,562
Other International		-		-		-		-			-		-		-			-		1			1
Corporate and Other		24		26		28		28			106		24		24			25		50			123
Total DD&A		2,131		2,329		2,271		2,382			9,113		2,247		2,329			2,425		2,061			9,062

5 of 8

	2015										2016
	1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD		1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD
PRODUCTION
Crude Oil (MBD)
Alaska		163		154		144		169		158		170		163		148		170		163
Lower 48		198		209		213		203		206		202		206		195		176		195
Canada		14		13		12		9		12		8		8		7		6		7
Norway		88		91		90		93		90		95		78		98		99		93
United Kingdom		32		29		26		33		30		30		27		23		29		27
Libya		-		-		-		-		-		-		-		-		9		2
Europe and North Africa		120		120		116		126		120		125		105		121		137		122
Australia/Timor-Leste		9		10		9		8		9		7		8		10		7		8
China		53		46		41		40		45		45		42		40		37		41
Indonesia		9		8		5		10		8		10		8		9		5		8
Malaysia		37		29		18		33		29		38		37		41		44		40
Equity affiliates		15		15		15		13		14		12		15		15		14		14
AP/ME		123		108		88		104		105		112		110		115		107		111
Equity affiliates		4		4		4		3		4		-		-		-		-		-
Other International		4		4		4		3		4		-		-		-		-		-
Total		622		608		577		614		605		617		592		586		596		598
NGL (MBD)
Alaska		14		13		10		14		13		14		11		11		15		12
Lower 48		93		97		95		93		94		86		90		92		83		88
Canada		25		26		27		25		26		25		22		23		21		23
Norway		3		2		3		3		3		3		2		3		3		3
United Kingdom		4		4		4		4		4		4		4		3		4		4
Europe and North Africa		7		6		7		7		7		7		6		6		7		7
Australia/Timor-Leste		6		7		6		5		6		4		5		7		5		5
Indonesia		3		3		3		2		3		3		3		1		2		2
Equity affiliates		7		8		8		7		7		7		8		8		10		8
AP/ME		16		18		17		14		16		14		16		16		17		15
Total		155		160		156		153		156		146		145		148		143		145
Bitumen (MBD)
Consolidated operations		12		12		12		18		13		27		19		41		50		35
Equity affiliates		144		126		145		137		138		139		141		152		163		148
Total		156		138		157		155		151		166		160		193		213		183
Natural Gas (MMCFD)
Alaska		52		41		34		41		42		38		27		18		16		25
Lower 48		1,505		1,501		1,457		1,426		1,472		1,216		1,244		1,224		1,192		1,219
Canada		736		768		712		643		715		566		532		517		483		524
Norway		163		143		142		165		153		174		133		127		183		154
United Kingdom		331		339		273		348		322		332		324		230		333		305
Libya		-		1		-		1		1		1		1		1		2		1
Europe and North Africa		494		483		415		514		476		507		458		358		518		460
Australia/Timor-Leste		276		294		282		297		288		309		312		260		274		289
China		3		3		1		1		2		1		1		1		-		1
Indonesia		430		417		408		431		421		445		382		399		344		393
Malaysia		2		7		7		9		6		14		35		52		89		47
Equity affiliates		561		622		668		700		638		799		902		948		947		899
AP/ME		1,272		1,343		1,366		1,438		1,355		1,568		1,632		1,660		1,654		1,629
Total		4,059		4,136		3,984		4,062		4,060		3,895		3,893		3,777		3,863		3,857
Total (MBOED)
Alaska		186		174		160		190		178		191		179		162		187		179
Lower 48		542		556		551		534		545		491		503		491		458		486
Consolidated operations		174		180		170		159		170		154		138		157		158		152
Equity affiliates		144		126		145		137		138		139		141		152		163		148
Canada		318		306		315		296		308		293		279		309		321		300
Norway		118		117		117		123		119		127		102		122		133		121
United Kingdom		91		89		75		95		88		89		85		65		88		82
Libya		-		-		-		-		-		-		-		-		9		2
Europe and North Africa		209		206		192		218		207		216		187		187		230		205
Australia/Timor-Leste		61		66		62		63		63		63		65		60		58		61
China		54		46		41		40		45		45		42		40		37		41
Indonesia		84		80		76		84		81		87		75		77		64		76
Malaysia		37		30		19		35		30		40		43		50		59		48
Equity affiliates		115		127		134		136		128		152		173		181		182		173
AP/ME		351		349		332		358		347		387		398		408		400		399
Equity affiliates		4		4		4		3		4		-		-		-		-		-
Other International		4		4		4		3		4		-		-		-		-		-
Total		1,610		1,595		1,554		1,599		1,589		1,578		1,546		1,557		1,596		1,569

6 of 8

	2015										2016
	1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD		1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD
AVERAGE REALIZED PRICES
Crude Oil ($/BBL)
Consolidated operations
Alaska		50.74		61.51		50.48		43.73		51.61		32.54		44.39		43.43		48.15		41.93
Lower 48		40.77		52.01		41.56		35.89		42.62		27.04		39.50		40.09		44.15		37.49
Canada		37.12		46.58		38.44		34.58		39.52		26.11		37.70		37.50		41.50		35.25
Norway		55.72		62.39		50.56		43.28		53.29		35.15		45.90		47.00		49.15		44.09
United Kingdom		52.24		62.15		46.85		45.86		51.19		36.19		45.06		44.91		48.17		42.14
Libya		-		-		-		60.79		60.79		-		-		-		-		-
Europe and North Africa		54.30		62.35		49.86		44.01		52.75		35.47		45.77		46.59		48.93		43.66
Australia/Timor-Leste		50.58		60.38		50.45		42.11		51.41		36.86		47.21		46.19		48.54		44.06
China		48.99		57.26		43.31		36.27		46.54		27.29		38.26		39.83		45.19		37.64
Indonesia		43.64		61.28		36.15		38.77		45.40		32.70		44.82		41.98		37.18		39.08
Malaysia		56.33		65.51		52.84		44.95		55.23		37.87		49.15		48.46		52.52		47.06
AP/ME		51.20		60.55		46.81		39.57		49.70		33.11		43.55		44.27		48.40		42.23
Total consolidated operations		48.02		57.94		46.37		40.29		48.21		31.43		42.63		43.18		46.96		40.78
Equity affiliates		49.14		59.93		47.55		42.23		49.92		33.50		46.35		44.78		50.82		44.11
Total		48.05		58.00		46.41		40.35		48.26		31.47		42.72		43.21		47.05		40.86
NGL ($/BBL)
Consolidated operations
Lower 48		15.55		15.29		12.55		12.67		14.01		9.45		14.59		14.57		18.83		14.34
Canada		18.28		19.23		14.50		16.14		17.02		11.69		13.70		14.99		19.52		14.82
Norway		30.43		28.66		21.25		25.05		26.56		17.32		19.20		19.08		22.52		19.57
United Kingdom		29.69		30.90		26.72		26.75		28.29		19.65		22.96		22.77		28.79		23.96
Europe and North Africa		29.90		29.54		24.74		26.08		27.56		18.78		22.16		21.38		26.95		22.62
Australia/Timor-Leste		41.63		40.95		32.53		36.19		38.38		28.94		29.81		26.16		35.85		29.69
Indonesia		39.31		38.95		31.89		37.09		36.62		25.46		29.43		24.36		30.04		27.36
AP/ME		40.90		40.35		32.26		36.50		37.78		27.62		29.67		25.84		34.30		29.00
Total consolidated operations		18.54		18.63		14.67		15.50		16.83		11.47		15.76		15.63		20.23		15.72
Equity affiliates		38.80		38.24		31.26		34.92		35.79		27.45		29.18		25.12		39.27		31.13
Total		19.60		19.62		15.54		16.42		17.79		12.30		16.55		16.18		21.82		16.68
Bitumen ($/BBL)
Consolidated operations		19.33		34.60		16.54		12.91		20.13		2.54		13.76		15.73		15.72		12.91
Equity affiliates		16.60		32.66		17.16		9.71		18.58		1.59		18.74		18.39		23.36		15.80
Total		16.82		32.84		17.12		10.07		18.72		1.74		18.11		17.82		21.64		15.27
Natural Gas ($/MCF)
Consolidated operations
Alaska		4.29		4.50		4.26		4.25		4.33		4.84		4.82		6.95		5.38		5.22
Lower 48		2.60		2.38		2.65		2.09		2.43		1.80		1.70		2.59		2.72		2.20
Canada		2.21		1.88		1.94		1.58		1.91		1.20		0.95		1.71		2.18		1.49
Norway		7.67		6.84		6.79		5.18		6.59		4.03		3.22		3.54		4.59		3.92
United Kingdom		8.65		7.40		7.28		6.37		7.41		5.55		4.74		4.50		5.50		5.12
Libya		-		-		-		-		-		-		-		-		-		-
Europe and North Africa		8.33		7.23		7.11		5.99		7.14		5.03		4.30		4.13		5.17		4.71
Australia/Timor-Leste*		1.05		0.85		0.63		0.70		0.81		0.59		0.56		0.47		0.56		0.54
China		2.49		2.51		2.50		2.45		2.50		2.38		2.38		2.34		2.30		2.36
Indonesia		6.50		7.55		6.26		5.40		6.42		4.47		5.18		5.61		5.77		5.22
Malaysia		1.21		1.49		1.71		1.11		1.39		1.54		2.38		2.33		2.74		2.48
AP/ME		7.23		6.48		5.97		5.30		6.23		4.24		3.96		4.42		4.62		4.31
Total consolidated operations		4.28		3.80		3.78		3.32		3.80		2.85		2.54		3.11		3.53		3.00
Equity affiliates		7.48		4.42		4.37		3.57		4.83		3.56		2.32		2.90		3.17		2.97
Total		4.72		3.90		3.87		3.36		3.96		2.99		2.49		3.05		3.44		3.00

*Excludes transfers to Darwin LNG plant.

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		2015															2016
		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)			(249	)		(132	)		(338	)		(90	)		(809	)		(273	)		(335	)		(323	)		(398	)		(1,329	)
Detail of Earnings (Loss) ($ Millions)
Net interest expense*			(155	)		(161	)		(176	)		(26	)		(518	)		(222	)		(234	)		(258	)		(266	)		(980	)
Corporate G&A expenses			(21	)		(71	)		(71	)		(83	)		(246	)		(85	)		(72	)		(54	)		(78	)		(289	)
Technology**			(16	)		88			3			47			122			21			1			44			(16	)		50
Other			(57	)		12			(94	)		(28	)		(167	)		13			(30	)		(55	)		(38	)		(110	)
Total			(249	)		(132	)		(338	)		(90	)		(809	)		(273	)		(335	)		(323	)		(398	)		(1,329	)
*4Q 2015 includes a $209 million tax benefit on interest expense, from prior year, as shown on page 3.
**Includes investment in new technologies or businesses outside of our normal scope of operations and licensing revenues.
Before-Tax Net Interest Expense ($ Millions)
Interest expense			(296	)		(307	)		(305	)		(306	)		(1,214	)		(321	)		(355	)		(377	)		(349	)		(1,402	)
Capitalized interest			94			97			65			38			294			40			43			42			32			157
Interest revenue			12			13			6			5			36			8			14			21			3			46
Total			(190	)		(197	)		(234	)		(263	)		(884	)		(273	)		(298	)		(314	)		(314	)		(1,199	)
Debt
Total debt ($ Millions)			22,511			24,925			24,891			24,880			24,880			29,455			28,677			28,689			27,275			27,275
Debt-to-capital ratio (%)			31	%		34	%		36	%		38	%		38	%		43	%		43	%		44	%		44	%		44	%
Equity ($ Millions)			49,008			48,969			44,555			40,082			40,082			39,407			37,831			36,456			35,226			35,226
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
IFRS	International Financial Reporting Standards
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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