ConocoPhillips (COP) 8-K Results of Operations and Financial Condition

Exhibit 99.2

	Fourth-Quarter 2017 Detailed Supplemental Information
							2016															2017
	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		5,121			5,348			6,415			6,809			23,693			7,518			6,781			6,688			8,119			29,106
Equity in earnings (losses) of affiliates		(149	)		80			(60	)		181			52			200			178			196			198			772
Gain on dispositions		23			128			51			158			360			22			1,876			246			33			2,177
Other income		20			19			110			106			255			31			47			65			386			529
Total Revenues and Other Income		5,015			5,575			6,516			7,254			24,360			7,771			8,882			7,195			8,736			32,584
Costs and Expenses
Purchased commodities		2,225			2,002			2,819			2,948			9,994			3,192			2,922			2,926			3,435			12,475
Production and operating expenses		1,354			1,445			1,526			1,342			5,667			1,298			1,327			1,224			1,324			5,173
Selling, general and administrative expenses		186			167			203			167			723			157			134			132			138			561
Exploration expenses		505			610			457			343			1,915			551			98			75			214			938
Depreciation, depletion and amortization		2,247			2,329			2,425			2,061			9,062			1,979			1,625			1,608			1,633			6,845
Impairments		136			62			123			(182	)		139			175			6,294			6			126			6,601
Taxes other than income taxes		180			197			161			201			739			231			198			175			205			809
Accretion on discounted liabilities		109			112			108			96			425			95			92			89			86			362
Interest and debt expense		281			312			335			317			1,245			315			306			251			226			1,098
Foreign currency transaction (gains) losses		16			(17	)		13			(31	)		(19	)		10			13			5			7			35
Other expense		-			-			-			-			-			-			234			51			17			302
Total Costs and Expenses		7,239			7,219			8,170			7,262			29,890			8,003			13,243			6,542			7,411			35,199
Income (loss) before income taxes		(2,224	)		(1,644	)		(1,654	)		(8	)		(5,530	)		(232	)		(4,361	)		653			1,325			(2,615	)
Income tax provision (benefit)		(768	)		(586	)		(628	)		11			(1,971	)		(831	)		(935	)		217			(273	)		(1,822	)
Net Income (Loss)		(1,456	)		(1,058	)		(1,026	)		(19	)		(3,559	)		599			(3,426	)		436			1,598			(793	)
Less: net income attributable to noncontrolling interests		(13	)		(13	)		(14	)		(16	)		(56	)		(13	)		(14	)		(16	)		(19	)		(62	)
Net Income (Loss) Attributable to ConocoPhillips		(1,469	)		(1,071	)		(1,040	)		(35	)		(3,615	)		586			(3,440	)		420			1,579			(855	)
Net Income (Loss) Attributable to ConocoPhillips
Per Share of Common Stock (dollars)
Basic		(1.18	)		(0.86	)		(0.84	)		(0.03	)		(2.91	)		0.47			(2.78	)		0.35			1.32			(0.70	)
Diluted		(1.18	)		(0.86	)		(0.84	)		(0.03	)		(2.91	)		0.47			(2.78	)		0.34			1.32			(0.70	)
Average Common Shares Outstanding (in thousands)*
Basic		1,244,557			1,244,892			1,245,961			1,246,337			1,245,440			1,243,280			1,236,831			1,212,454			1,192,243			1,221,038
Diluted		1,244,557			1,244,892			1,245,961			1,246,337			1,245,440			1,248,722			1,236,831			1,215,341			1,198,276			1,221,038
*Ending Common Shares Outstanding is 1,177,107 as of Dec. 31, 2017, compared with 1,195,516 as of Sep. 30, 2017.
INCOME (LOSS) BEFORE INCOME TAXES
Alaska		(52	)		98			36			179			261			6			215			159			396			776
Lower 48		(1,279	)		(1,213	)		(767	)		(327	)		(3,586	)		(562	)		(4,013	)		(148	)		(102	)		(4,825	)
Canada		(418	)		(238	)		(442	)		(220	)		(1,318	)		(87	)		1,846			243			(55	)		1,947
Europe and North Africa		(146	)		14			(9	)		488			347			533			276			303			607			1,719
Asia Pacific and Middle East		89			157			19			305			570			392			(2,052	)		452			524			(684	)
Other International		(32	)		(38	)		(62	)		77			(55	)		(68	)		(11	)		(15	)		282			188
Corporate and Other		(386	)		(424	)		(429	)		(510	)		(1,749	)		(446	)		(622	)		(341	)		(327	)		(1,736	)
Consolidated		(2,224	)		(1,644	)		(1,654	)		(8	)		(5,530	)		(232	)		(4,361	)		653			1,325			(2,615	)
EFFECTIVE INCOME TAX RATES
Alaska*		96.4	%		-50.1	%		-64.0	%		35.7	%		-22.5	%		295.2	%		7.4	%		35.3	%		-195.8	%		-88.7	%
Lower 48		35.8	%		36.5	%		36.0	%		46.4	%		37.0	%		35.5	%		36.8	%		34.8	%		710.1	%		50.9	%
Canada		29.8	%		26.3	%		28.9	%		30.9	%		29.1	%		1193.9	%		25.2	%		-14.8	%		21.9	%		-31.7	%
Europe and North Africa		65.3	%		-41.6	%		1930.7	%		46.4	%		-13.3	%		67.8	%		55.5	%		72.0	%		71.2	%		67.8	%
Asia Pacific and Middle East		90.8	%		46.1	%		478.6	%		20.0	%		53.6	%		36.6	%		-5.2	%		8.9	%		11.9	%		-51.4	%
Other International		24.3	%		24.3	%		23.2	%		-10.8	%		71.3	%		29.6	%		14.2	%		-27.3	%		13.7	%		11.3	%
Corporate and Other		29.1	%		21.2	%		24.7	%		22.1	%		24.1	%		22.0	%		31.8	%		4.2	%		-217.2	%		-23.0	%
Consolidated		34.5	%		35.6	%		38.0	%		-113.2	%		35.6	%		359.0	%		21.4	%		33.2	%		-20.5	%		69.7	%
*Alaska including taxes other than income taxes.		61.2	%		15.5	%		36.4	%		55.2	%		38.5	%		111.9	%		32.2	%		56.6	%		-142.9	%		-32.5	%

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							2016															2017
	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			YTD			1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			YTD
$ Millions
EARNINGS BY SEGMENT
Alaska		(2	)		147			59			115			319			(11	)		199			103			1,175			1,466
Lower 48		(820	)		(771	)		(491	)		(175	)		(2,257	)		(362	)		(2,536	)		(97	)		624			(2,371	)
Canada		(294	)		(175	)		(314	)		(152	)		(935	)		948			1,379			280			(43	)		2,564
Europe and North Africa		(51	)		20			163			262			394			171			123			85			174			553
Asia Pacific and Middle East		(5	)		72			(87	)		229			209			236			(2,172	)		396			442			(1,098	)
Other International		(24	)		(29	)		(47	)		84			(16	)		(48	)		(9	)		(20	)		244			167
Corporate and Other		(273	)		(335	)		(323	)		(398	)		(1,329	)		(348	)		(424	)		(327	)		(1,037	)		(2,136	)
Consolidated		(1,469	)		(1,071	)		(1,040	)		(35	)		(3,615	)		586			(3,440	)		420			1,579			(855	)
SPECIAL ITEMS
Alaska		-			93			(6	)		(1	)		86			(110	)		32			-			892			814
Lower 48		(172	)		(148	)		(88	)		44			(364	)		(33	)		(2,464	)		(40	)		610			(1,927	)
Canada		-			-			(30	)		(51	)		(81	)		977			1,366			304			(5	)		2,642
Europe and North Africa		(60	)		-			160			180			280			-			41			-			12			53
Asia Pacific and Middle East		-			-			(174	)		47			(127	)		-			(2,384	)		83			74			(2,227	)
Other International		-			-			-			138			138			(28	)		-			-			275			247
Corporate and Other		(58	)		(31	)		(76	)		(74	)		(239	)		(43	)		(209	)		(125	)		(819	)		(1,196	)
Consolidated		(290	)		(86	)		(214	)		283			(307	)		763			(3,618	)		222			1,039			(1,594	)
Detailed reconciliation of these items is provided on page 3.
ADJUSTED EARNINGS
Alaska		(2	)		54			65			116			233			99			167			103			283			652
Lower 48		(648	)		(623	)		(403	)		(219	)		(1,893	)		(329	)		(72	)		(57	)		14			(444	)
Canada		(294	)		(175	)		(284	)		(101	)		(854	)		(29	)		13			(24	)		(38	)		(78	)
Europe and North Africa		9			20			3			82			114			171			82			85			162			500
Asia Pacific and Middle East		(5	)		72			87			182			336			236			212			313			368			1,129
Other International		(24	)		(29	)		(47	)		(54	)		(154	)		(20	)		(9	)		(20	)		(31	)		(80	)
Corporate and Other		(215	)		(304	)		(247	)		(324	)		(1,090	)		(305	)		(215	)		(202	)		(218	)		(940	)
Consolidated		(1,179	)		(985	)		(826	)		(318	)		(3,308	)		(177	)		178			198			540			739
ADJUSTED EFFECTIVE INCOME TAX RATES
Alaska		96.4	%		-28.5	%		-41.6	%		35.9	%		-7.7	%		44.9	%		22.3	%		35.3	%		28.8	%		31.5	%
Lower 48		36.0	%		35.6	%		36.1	%		36.6	%		36.0	%		35.5	%		37.9	%		39.2	%		28.3	%		36.6	%
Canada		29.8	%		26.3	%		27.9	%		32.7	%		28.8	%		50.9	%		-83.2	%		34.7	%		31.0	%		46.0	%
Europe and North Africa		135.4	%		-41.6	%		136.9	%		54.1	%		28.3	%		67.8	%		70.4	%		72.0	%		71.7	%		70.3	%
Asia Pacific and Middle East		90.8	%		46.1	%		47.2	%		35.5	%		47.4	%		36.6	%		31.9	%		27.2	%		26.0	%		29.9	%
Other International		24.3	%		24.3	%		23.2	%		23.3	%		23.6	%		20.4	%		14.2	%		-27.3	%		16.9	%		9.9	%
Corporate and Other		28.8	%		20.0	%		21.8	%		19.6	%		22.2	%		21.1	%		39.2	%		22.7	%		30.4	%		28.5	%
Consolidated		33.6	%		31.0	%		30.7	%		0.4	%		29.9	%		232.5	%		45.2	%		57.7	%		49.5	%		61.6	%

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								2016															2017
$ Millions	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			YTD			1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			YTD
DETAILED SPECIAL ITEMS
Alaska
Restructuring		-			-			(10	)		(2	)		(12	)		-			-			-			-			-
Gain (loss) on asset sales		-			56			-			-			56			-			-			-			-			-
Impairments		-			-			-			-			-			(174	)		-			-			-			(174	)
Subtotal before income taxes		-			56			(10	)		(2	)		44			(174	)		-			-			-			(174	)
Income tax provision (benefit)1		-			(37	)		(4	)		(1	)		(42	)		(64	)		(32	)		-			(892	)		(988	)
Total		-			93			(6	)		(1	)		86			(110	)		32			-			892			814
Lower 48
Restructuring		-			-			(35	)		(4	)		(39	)		-			(15	)		(3	)		1			(17	)
Impairments		(266	)		(246	)		-			(69	)		(581	)		(51	)		(3,882	)		(2	)		(122	)		(4,057	)
Rig termination		-			-			(134	)		-			(134	)		-			-			-			-			-
Pending claims and settlements		-			-			33			-			33			-			-			-			-			-
Minnesota iron ore reversionary interest		-			-			-			92			92			-			-			-			-			-
Gain (loss) on asset sales		-			-			-			-			-			-			-			(50	)		-			(50	)
Subtotal before income taxes		(266	)		(246	)		(136	)		19			(629	)		(51	)		(3,897	)		(55	)		(121	)		(4,124	)
Income tax provision (benefit)1		(94	)		(98	)		(48	)		(25	)		(265	)		(18	)		(1,433	)		(15	)		(731	)		(2,197	)
Total		(172	)		(148	)		(88	)		44			(364	)		(33	)		(2,464	)		(40	)		610			(1,927	)
Canada
Gain (loss) on asset sales		-			-			37			-			37			-			1,855			281			-			2,136
Impairments		-			-			(57	)		(70	)		(127	)		-			(18	)		-			-			(18	)
Restructuring		-			-			(28	)		-			(28	)		(27	)		1			-			-			(26	)
Subtotal before income taxes		-			-			(48	)		(70	)		(118	)		(27	)		1,838			281			-			2,092
Income tax provision (benefit)2		-			-			(18	)		(19	)		(37	)		(1,004	)		472			(23	)		5			(550	)
Total		-			-			(30	)		(51	)		(81	)		977			1,366			304			(5	)		2,642
Europe and North Africa
Restructuring		-			-			(2	)		(1	)		(3	)		-			-			-			-			-
Impairments		(119	)		-			-			311			192			-			-			-			33			33
Subtotal before income taxes		(119	)		-			(2	)		310			189			-			-			-			33			33
Income tax provision (benefit)3		(59	)		-			(162	)		130			(91	)		-			(41	)		-			21			(20	)
Total		(60	)		-			160			180			280			-			41			-			12			53
Asia Pacific and Middle East
APLNG tax functional currency change		-			-			(174	)		-			(174	)		-			-			-			-			-
Impairments		-			-			-			-			-			-			(2,384	)		-			-			(2,384	)
Subtotal before income taxes		-			-			(174	)		-			(174	)		-			(2,384	)		-			-			(2,384	)
Income tax provision (benefit)4		-			-			-			(47	)		(47	)		-			-			(83	)		(74	)		(157	)
Total		-			-			(174	)		47			(127	)		-			(2,384	)		83			74			(2,227	)
Other International
Gain (loss) on asset sales		-			-			-			146			146			-			-			-			-			-
Pending claims and settlements		-			-			-			-			-			-			-			-			320			320
Rig termination		-			-			-			-			-			(43	)		-			-			-			(43	)
Subtotal before income taxes		-			-			-			146			146			(43	)		-			-			320			277
Income tax provision (benefit)5		-			-			-			8			8			(15	)		-			-			45			30
Total		-			-			-			138			138			(28	)		-			-			275			247
Corporate and Other
Restructuring		-			-			(70	)		(6	)		(76	)		-			-			-			-			-
Pension settlement expense		(83	)		(45	)		(23	)		(52	)		(203	)		(60	)		(36	)		(20	)		(14	)		(130	)
Impairments		-			-			-			(50	)		(50	)		-			-			-			-			-
Pending claims and settlements		-			-			(20	)		-			(20	)		-			2			(9	)		17			10
Premiums on early debt retirement		-			-			-			-			-			-			(234	)		(51	)		(17	)		(302	)
Subtotal before income taxes		(83	)		(45	)		(113	)		(108	)		(349	)		(60	)		(268	)		(80	)		(14	)		(422	)
Income tax provision (benefit)6		(25	)		(14	)		(37	)		(34	)		(110	)		(17	)		(59	)		45			805			774
Total		(58	)		(31	)		(76	)		(74	)		(239	)		(43	)		(209	)		(125	)		(819	)		(1,196	)
Total Company		(290	)		(86	)		(214	)		283			(307	)		763			(3,618	)		222			1,039			(1,594	)

1	Includes deferred tax adjustment in 2Q 2016 and 2Q 2017 in Lower 48 and Alaska; pending claims and settlements in 2Q 2017 in Alaska; and 4Q 2017 U.S. Tax Reform.
2	Includes tax adjustment related to Canadian disposition in 1Q 2017; tax benefit related to our prior decision to exit Nova Scotia deepwater exploration in 3Q 2017; and 4Q 2017 U.S. Tax Reform.
3	Includes international tax law change for 3Q 2016; pending claims and settlements in 2Q 2017; 4Q 2017 deferred tax adjustment in U.K.; and 4Q 2017 U.S. Tax Reform.
4	Includes Malaysia deferred tax recognition in 4Q 2016; pending claims and settlements in 3Q 2017; and 4Q 2017 U.S. Tax Reform.
5	Includes 4Q 2017 U.S. Tax Reform.
6	Includes pending claims and settlements in 3Q 2017 and 4Q 2017 U.S. Tax Reform.

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							2016															2017
	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)		(1,456	)		(1,058	)		(1,026	)		(19	)		(3,559	)		599			(3,426	)		436			1,598			(793	)
Depreciation, depletion and amortization		2,247			2,329			2,425			2,061			9,062			1,979			1,625			1,608			1,633			6,845
Impairments		136			62			123			(182	)		139			175			6,294			6			126			6,601
Dry hole costs and leasehold impairments		360			463			187			174			1,184			406			22			7			131			566
Accretion on discounted liabilities		109			112			108			96			425			95			92			89			86			362
Deferred taxes		(827	)		(630	)		(695	)		(69	)		(2,221	)		(1,314	)		(1,234	)		(222	)		(911	)		(3,681	)
Distributions received greater than equity losses
(undistributed equity earnings)		252			(30	)		192			(115	)		299			(43	)		(78	)		(72	)		(39	)		(232	)
Gain on dispositions		(23	)		(128	)		(51	)		(158	)		(360	)		(22	)		(1,876	)		(246	)		(33	)		(2,177	)
Other		(126	)		109			(33	)		(35	)		(85	)		(47	)		222			(542	)		(62	)		(429	)
Net working capital changes		(251	)		30			50			(310	)		(481	)		(38	)		110			(9	)		(48	)		15
Net Cash Provided by Operating Activities		421			1,259			1,280			1,443			4,403			1,790			1,751			1,055			2,481			7,077
Cash Flows from Investing Activities
Capital expenditures and investments		(1,821	)		(1,133	)		(916	)		(999	)		(4,869	)		(966	)		(1,020	)		(1,088	)		(1,517	)		(4,591	)
Working capital changes associated with investing activities		(134	)		(229	)		(38	)		70			(331	)		(26	)		(87	)		95			150			132
Proceeds from asset dispositions		135			228			56			867			1,286			35			10,707			2,998			120			13,860
Net sales (purchases) of short-term investments		(302	)		(990	)		1,063			178			(51	)		(203	)		(2,450	)		70			793			(1,790	)
Long-term collections from (advances to)
related parties and other investments		57			2			110			(63	)		106			186			47			(67	)		(15	)		151
Net Cash Provided by (Used in) Investing Activities		(2,065	)		(2,122	)		275			53			(3,859	)		(974	)		7,197			2,008			(469	)		7,762
Cash Flows from Financing Activities
Net issuance (repayment) of debt		4,530			(763	)		(12	)		(1,412	)		2,343			(839	)		(3,240	)		(2,515	)		(1,282	)		(7,876	)
Issuance of company common stock		(42	)		(3	)		(7	)		(11	)		(63	)		(46	)		(17	)		(2	)		2			(63	)
Repurchase of company common stock		-			-			-			(126	)		(126	)		(112	)		(963	)		(970	)		(955	)		(3,000	)
Dividends paid		(313	)		(313	)		(314	)		(313	)		(1,253	)		(331	)		(331	)		(324	)		(319	)		(1,305	)
Other		(38	)		(41	)		(14	)		(44	)		(137	)		(16	)		(48	)		(16	)		(32	)		(112	)
Net Cash Provided by (Used in) Financing Activities		4,137			(1,120	)		(347	)		(1,906	)		764			(1,344	)		(4,599	)		(3,827	)		(2,586	)		(12,356	)
Effect of Exchange Rate Changes		5			(20	)		19			(70	)		(66	)		27			76			141			(12	)		232
Net Change in Cash and Cash Equivalents		2,498			(2,003	)		1,227			(480	)		1,242			(501	)		4,425			(623	)		(586	)		2,715
Cash and cash equivalents at beginning of period		2,368			4,866			2,863			4,090			2,368			3,610			3,109			7,534			6,911			3,610
Cash and Cash Equivalents at End of Period		4,866			2,863			4,090			3,610			3,610			3,109			7,534			6,911			6,325			6,325
CAPITAL EXPENDITURES AND INVESTMENTS
Alaska		320			183			199			181			883			228			229			179			179			815
Lower 48		580			237			175			270			1,262			343			383			508			902			2,136
Canada		254			214			85			145			698			62			85			33			22			202
Europe and North Africa		303			271			227			219			1,020			200			212			245			215			872
Asia Pacific and Middle East		306			179			215			138			838			109			93			114			166			482
Other International		41			37			3			23			104			5			5			7			4			21
Corporate and Other		17			12			12			23			64			19			13			2			29			63
Total Capital Expenditures and Investments		1,821			1,133			916			999			4,869			966			1,020			1,088			1,517			4,591

4 of 8

						2016											2017
	1st Qtr		2nd Qtr			3rd Qtr		4th Qtr			YTD		1st Qtr		2nd Qtr		3rd Qtr			4th Qtr		YTD
TOTAL SEGMENTS
Production
Total (MBOED)		1,578		1,546			1,557		1,596			1,569		1,593		1,437		1,226			1,256		1,377
Crude Oil (MBD)
Consolidated operations		605		577			571		582			584		588		576		568			608		585
Equity affiliates		12		15			15		14			14		13		14		14			14		14
Total		617		592			586		596			598		601		590		582			622		599
Over (under) lifting of crude oil (MBD)		37		(8	)		45		(30	)		11		36		28		11			13		22
NGL (MBD)
Consolidated operations		139		137			140		133			137		127		119		87			84		104
Equity affiliates		7		8			8		10			8		7		8		8			5		7
Total		146		145			148		143			145		134		127		95			89		111
Bitumen (MBD)
Consolidated operations		27		19			41		50			35		52		52		63			67		59
Equity affiliates		139		141			152		163			148		171		85		-			-		63
Total		166		160			193		213			183		223		137		63			67		122
Natural Gas (MMCFD)
Consolidated operations		3,096		2,991			2,829		2,916			2,958		2,874		2,484		1,878			1,833		2,263
Equity affiliates		799		902			948		947			899		935		1,015		1,040			1,035		1,007
Total		3,895		3,893			3,777		3,863			3,857		3,809		3,499		2,918			2,868		3,270
Industry Prices
Crude Oil ($/BBL)
WTI		33.27		45.48			44.88		49.18			43.20		51.83		48.24		48.16			55.35		50.90
WCS		19.03		32.18			31.38		34.85			29.36		37.25		37.12		38.22			43.08		38.92
Brent dated		33.89		45.57			45.85		49.46			43.69		53.78		49.83		52.09			61.39		54.27
JCC ($/BBL)		45.97		33.09			41.30		46.14			41.63		47.21		54.95		53.16			49.87		51.30
Natural Gas ($/MMBTU)
Henry Hub first of month		2.09		1.95			2.81		2.98			2.46		3.32		3.19		2.99			2.93		3.11
Average Realized Prices
Crude Oil ($/BBL)
Consolidated operations		31.43		42.63			43.18		46.96			40.78		50.86		48.11		49.31			58.95		51.89
Equity affiliates		33.50		46.35			44.78		50.82			44.11		55.58		50.55		52.29			60.52		54.76
Total		31.47		42.72			43.21		47.05			40.86		50.97		48.16		49.39			58.99		51.96
NGL ($/BBL)
Consolidated operations		11.47		15.76			15.63		20.23			15.72		23.81		19.97		22.50			32.08		24.21
Equity affiliates		27.45		29.18			25.12		39.27			31.13		43.20		34.49		35.94			44.06		38.74
Total		12.30		16.55			16.18		21.82			16.68		24.87		20.99		23.82			32.79		25.22
Bitumen ($/BBL)
Consolidated operations		2.54		13.76			15.73		15.72			12.91		15.63		19.28		24.19			25.20		21.43
Equity affiliates		1.59		18.74			18.39		23.36			15.80		23.63		24.19		-			-		23.83
Total		1.74		18.11			17.82		21.64			15.27		21.56		22.42		24.19			25.20		22.66
Natural Gas ($/MCF)
Consolidated operations		2.85		2.54			3.11		3.53			3.00		3.78		3.64		3.88			4.80		3.97
Equity affiliates		3.56		2.32			2.90		3.17			2.97		4.00		4.29		4.51			4.25		4.27
Total		2.99		2.49			3.05		3.44			3.00		3.84		3.83		4.11			4.59		4.07
Exploration Expenses ($ Millions)
Dry holes		180		249			163		126			718		343		14		(3	)		76		430
Leasehold impairment		180		214			24		48			466		63		8		10			55		136
Total noncash expenses		360		463			187		174			1,184		406		22		7			131		566
Other (G&A, G&G and lease rentals)		145		147			270		169			731		145		76		68			83		372
Total exploration expenses		505		610			457		343			1,915		551		98		75			214		938
U.S. exploration expenses		443		559			199		76			1,277		427		44		40			151		662
International exploration expenses		62		51			258		267			638		124		54		35			63		276
DD&A ($ Millions)
Alaska		207		235			214		211			867		234		216		188			208		846
Lower 48		1,048		1,148			1,152		861			4,209		819		666		612			627		2,724
Canada		191		203			275		218			887		196		70		84			89		439
Europe and North Africa		378		320			373		342			1,413		346		318		317			286		1,267
Asia Pacific and Middle East		399		399			386		378			1,562		350		321		374			390		1,435
Other International		-		-			-		1			1		-		-		-			-		-
Corporate and Other		24		24			25		50			123		34		34		33			33		134
Total DD&A		2,247		2,329			2,425		2,061			9,062		1,979		1,625		1,608			1,633		6,845

5 of 8

					2016										2017
	1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD		1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD
PRODUCTION
Crude Oil (MBD)
Alaska		170		163		148		170		163		175		169		154		173		167
Lower 48		202		206		195		176		195		176		179		175		191		180
Canada		8		8		7		6		7		6		3		1		2		3
Norway		95		78		98		99		93		103		99		95		90		97
United Kingdom		30		27		23		29		27		28		26		23		24		25
Libya		-		-		-		9		2		9		11		23		34		20
Europe and North Africa		125		105		121		137		122		140		136		141		148		142
Australia/Timor-Leste		7		8		10		7		8		7		6		6		6		6
China		45		42		40		37		41		41		38		37		35		38
Indonesia		10		8		9		5		8		2		2		2		2		2
Malaysia		38		37		41		44		40		41		43		52		51		47
Equity affiliates		12		15		15		14		14		13		14		14		14		14
AP/ME		112		110		115		107		111		104		103		111		108		107
Total		617		592		586		596		598		601		590		582		622		599
NGL (MBD)
Alaska		14		11		11		15		12		15		14		11		15		14
Lower 48		86		90		92		83		88		75		79		64		58		69
Canada		25		22		23		21		23		23		13		1		-		9
Norway		3		2		3		3		3		4		4		4		4		4
United Kingdom		4		4		3		4		4		5		5		3		3		4
Europe and North Africa		7		6		6		7		7		9		9		7		7		8
Australia/Timor-Leste		4		5		7		5		5		5		4		4		4		4
Indonesia		3		3		1		2		2		-		-		-		-		-
Equity affiliates		7		8		8		10		8		7		8		8		5		7
AP/ME		14		16		16		17		15		12		12		12		9		11
Total		146		145		148		143		145		134		127		95		89		111
Bitumen (MBD)
Consolidated operations		27		19		41		50		35		52		52		63		67		59
Equity affiliates		139		141		152		163		148		171		85		-		-		63
Total		166		160		193		213		183		223		137		63		67		122
Natural Gas (MMCFD)
Alaska		38		27		18		16		25		7		7		5		7		7
Lower 48		1,216		1,244		1,224		1,192		1,219		1,116		1,142		765		576		898
Canada		566		532		517		483		524		488		247		10		12		187
Norway		174		133		127		183		154		213		188		193		206		200
United Kingdom		332		324		230		333		305		328		284		209		284		276
Libya		1		1		1		2		1		3		4		6		20		8
Europe and North Africa		507		458		358		518		460		544		476		408		510		484
Australia/Timor-Leste		309		312		260		274		289		284		260		241		286		267
China		1		1		1		-		1		-		-		-		-		-
Indonesia		445		382		399		344		393		327		276		323		305		308
Malaysia		14		35		52		89		47		108		76		126		137		112
Equity affiliates		799		902		948		947		899		935		1,015		1,040		1,035		1,007
AP/ME		1,568		1,632		1,660		1,654		1,629		1,654		1,627		1,730		1,763		1,694
Total		3,895		3,893		3,777		3,863		3,857		3,809		3,499		2,918		2,868		3,270
Total (MBOED)
Alaska		191		179		162		187		179		191		184		166		189		182
Lower 48		491		503		491		458		486		437		448		366		345		399
Consolidated operations		154		138		157		158		152		162		109		67		71		102
Equity affiliates		139		141		152		163		148		171		85		-		-		63
Canada		293		279		309		321		300		333		194		67		71		165
Norway		127		102		122		133		121		143		134		131		128		134
United Kingdom		89		85		65		88		82		88		78		61		75		75
Libya		-		-		-		9		2		9		12		24		37		21
Europe and North Africa		216		187		187		230		205		240		224		216		240		230
Australia/Timor-Leste		63		65		60		58		61		59		53		50		58		55
China		45		42		40		37		41		41		38		37		35		38
Indonesia		87		75		77		64		76		57		48		56		52		53
Malaysia		40		43		50		59		48		59		56		73		74		66
Equity affiliates		152		173		181		182		173		176		192		195		192		189
AP/ME		387		398		408		400		399		392		387		411		411		401
Total		1,578		1,546		1,557		1,596		1,569		1,593		1,437		1,226		1,256		1,377

6 of 8

						2016										2017
	1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD		1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD
AVERAGE REALIZED PRICES
Crude Oil ($/BBL)
Consolidated operations
Alaska		32.54		44.39		43.43		48.15		41.93		52.09		49.95		50.53		60.68		53.33
Lower 48		27.04		39.50		40.09		44.15		37.49		45.89		43.38		45.29		54.27		47.36
Canada		26.11		37.70		37.50		41.50		35.25		43.82		43.35		-		-		43.69
Norway		35.15		45.90		47.00		49.15		44.09		54.14		51.19		51.94		62.28		54.61
United Kingdom		36.19		45.06		44.91		48.17		42.14		50.09		51.72		46.88		57.63		51.85
Libya		-		-		-		-		-		52.98		48.77		51.00		60.82		55.11
Europe and North Africa		35.47		45.77		46.59		48.93		43.66		53.34		50.98		51.05		61.04		54.21
Australia/Timor-Leste		36.86		47.21		46.19		48.54		44.06		53.85		49.43		50.35		63.35		54.10
China		27.29		38.26		39.83		45.19		37.64		50.31		46.00		49.09		58.07		50.91
Indonesia		32.70		44.82		41.98		37.18		39.08		42.45		37.44		38.89		75.00		47.09
Malaysia		37.87		49.15		48.46		52.52		47.06		58.13		52.64		54.66		64.54		57.59
AP/ME		33.11		43.55		44.27		48.40		42.23		53.74		49.28		52.06		62.09		54.38
Total consolidated operations		31.43		42.63		43.18		46.96		40.78		50.86		48.11		49.31		58.95		51.89
Equity affiliates		33.50		46.35		44.78		50.82		44.11		55.58		50.55		52.29		60.52		54.76
Total		31.47		42.72		43.21		47.05		40.86		50.97		48.16		49.39		58.99		51.96
NGL ($/BBL)
Consolidated operations
Lower 48		9.45		14.59		14.57		18.83		14.34		22.07		18.99		20.72		28.41		22.20
Canada		11.69		13.70		14.99		19.52		14.82		21.32		20.96		-		-		21.51
Norway		17.32		19.20		19.08		22.52		19.57		31.77		24.24		28.86		40.56		34.14
United Kingdom		19.65		22.96		22.77		28.79		23.96		30.32		25.32		33.07		43.60		33.98
Europe and North Africa		18.78		22.16		21.38		26.95		22.62		31.21		24.88		31.16		41.74		34.07
Australia/Timor-Leste		28.94		29.81		26.16		35.85		29.69		42.96		34.54		35.74		49.26		41.37
Indonesia		25.46		29.43		24.36		30.04		27.36		-		-		-		-		-
AP/ME		27.62		29.67		25.84		34.30		29.00		42.96		34.54		35.74		49.26		41.37
Total consolidated operations		11.47		15.76		15.63		20.23		15.72		23.81		19.97		22.50		32.08		24.21
Equity affiliates		27.45		29.18		25.12		39.27		31.13		43.20		34.49		35.94		44.06		38.74
Total		12.30		16.55		16.18		21.82		16.68		24.87		20.99		23.82		32.79		25.22
Bitumen ($/BBL)
Consolidated operations		2.54		13.76		15.73		15.72		12.91		15.63		19.28		24.19		25.20		21.43
Equity affiliates		1.59		18.74		18.39		23.36		15.80		23.63		24.19		-		-		23.83
Total		1.74		18.11		17.82		21.64		15.27		21.56		22.42		24.19		25.20		22.66
Natural Gas ($/MCF)
Consolidated operations
Alaska		4.84		4.82		6.95		5.38		5.22		3.53		1.43		4.55		2.59		2.72
Lower 48		1.80		1.70		2.59		2.72		2.20		2.83		2.72		2.63		2.68		2.73
Canada		1.20		0.95		1.71		2.18		1.49		1.95		2.00		-		-		1.93
Norway		4.03		3.22		3.54		4.59		3.92		5.52		4.87		5.00		6.59		5.54
United Kingdom		5.55		4.74		4.50		5.50		5.12		6.07		4.99		5.20		6.89		5.84
Libya		-		-		-		-		-		-		-		0.09		3.68		3.53
Europe and North Africa		5.03		4.30		4.13		5.17		4.71		5.86		4.95		5.09		6.65		5.70
Australia/Timor-Leste*		0.59		0.56		0.47		0.56		0.54		0.57		0.77		0.64		0.61		0.65
China		2.38		2.38		2.34		2.30		2.36		-		-		-		-		-
Indonesia		4.47		5.18		5.61		5.77		5.22		6.52		6.34		5.81		6.38		6.26
Malaysia		1.54		2.38		2.33		2.74		2.48		2.82		3.07		3.30		3.16		3.10
AP/ME		4.24		3.96		4.42		4.62		4.31		4.96		5.05		4.63		5.27		4.98
Total consolidated operations		2.85		2.54		3.11		3.53		3.00		3.78		3.64		3.88		4.80		3.97
Equity affiliates		3.56		2.32		2.90		3.17		2.97		4.00		4.29		4.51		4.25		4.27
Total		2.99		2.49		3.05		3.44		3.00		3.84		3.83		4.11		4.59		4.07
*Excludes transfers to Darwin LNG plant.

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							2016															2017
	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)		(273	)		(335	)		(323	)		(398	)		(1,329	)		(348	)		(424	)		(327	)		(1,037	)		(2,136	)
Detail of Earnings (Loss) ($ Millions)
Net interest expense		(222	)		(234	)		(258	)		(266	)		(980	)		(253	)		(174	)		(176	)		(136	)		(739	)
Corporate G&A expenses		(85	)		(72	)		(54	)		(78	)		(289	)		(93	)		(64	)		(56	)		(71	)		(284	)
Technology*		21			1			44			(16	)		50			9			-			20			(9	)		20
Other		13			(30	)		(55	)		(38	)		(110	)		(11	)		(186	)		(115	)		(821	)		(1,133	)
Total		(273	)		(335	)		(323	)		(398	)		(1,329	)		(348	)		(424	)		(327	)		(1,037	)		(2,136	)
*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		(321	)		(355	)		(377	)		(349	)		(1,402	)		(340	)		(336	)		(282	)		(259	)		(1,217	)
Capitalized interest		40			43			42			32			157			25			30			31			33			119
Interest revenue		8			14			21			3			46			11			17			29			43			100
Total		(273	)		(298	)		(314	)		(314	)		(1,199	)		(304	)		(289	)		(222	)		(183	)		(998	)
Debt
Total debt ($ Millions)		29,455			28,677			28,689			27,275			27,275			26,435			23,468			21,004			19,703			19,703
Debt-to-capital ratio (%)		43	%		43	%		44	%		44	%		44	%		43	%		43	%		41	%		39	%		39	%
Equity ($ Millions)		39,407			37,831			36,456			35,226			35,226			35,601			30,499			30,712			30,801			30,801

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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