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

Exhibit 99.2

	Second-Quarter 2019 Detailed Supplemental Information
	2018															2019
	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			Full Year			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		8,798			8,504			9,449			9,666			36,417			9,150			7,953					17,103
Equity in earnings of affiliates		208			265			294			307			1,074			188			173					361
Gain on dispositions		7			55			113			888			1,063			17			82					99
Other income (loss)		(52	)		416			309			(500	)		173			702			172					874
Total Revenues and Other Income		8,961			9,240			10,165			10,361			38,727			10,057			8,380					18,437
Costs and Expenses
Purchased commodities		3,714			3,064			3,530			3,986			14,294			3,675			2,674					6,349
Production and operating expenses		1,171			1,313			1,367			1,362			5,213			1,271			1,418					2,689
Selling, general and administrative expenses		99			118			119			65			401			153			129					282
Exploration expenses		95			69			103			102			369			110			122					232
Depreciation, depletion and amortization		1,412			1,438			1,494			1,612			5,956			1,546			1,490					3,036
Impairments		12			(35	)		44			6			27			1			1					2
Taxes other than income taxes		183			273			312			280			1,048			275			194					469
Accretion on discounted liabilities		88			89			89			87			353			86			87					173
Interest and debt expense		184			177			186			188			735			233			165					398
Foreign currency transaction (gains) losses		30			(28	)		5			(24	)		(17	)		12			28					40
Other expenses		197			143			10			25			375			8			14					22
Total Costs and Expenses		7,185			6,621			7,259			7,689			28,754			7,370			6,322					13,692
Income before income taxes		1,776			2,619			2,906			2,672			9,973			2,687			2,058					4,745
Income tax provision		876			965			1,033			794			3,668			841			461					1,302
Net Income		900			1,654			1,873			1,878			6,305			1,846			1,597					3,443
Less: net income attributable to noncontrolling interests		(12	)		(14	)		(12	)		(10	)		(48	)		(13	)		(17	)				(30	)
Net Income Attributable to ConocoPhillips		888			1,640			1,861			1,868			6,257			1,833			1,580					3,413
Net Income Attributable to ConocoPhillips
Per Share of Common Stock (dollars)
Basic		0.75			1.40			1.60			1.62			5.36			1.61			1.40					3.01
Diluted		0.75			1.39			1.59			1.61			5.32			1.60			1.40					3.00
Average Common Shares Outstanding (in thousands)*
Basic		1,179,792			1,172,378			1,163,033			1,151,148			1,166,499			1,139,463			1,125,995					1,132,691
Diluted		1,186,454			1,181,167			1,172,694			1,159,305			1,175,538			1,146,515			1,131,242					1,139,511
*Ending Common Shares Outstanding is 1,110,142 as of Jun. 30, 2019, compared with 1,130,176 as of Mar. 31, 2019.
INCOME (LOSS) BEFORE INCOME TAXES
Alaska		654			531			535			470			2,190			505			580					1,085
Lower 48		398			523			660			640			2,221			261			269					530
Canada		(105	)		47			49			(24	)		(33	)		73			100					173
Europe and North Africa		771			862			811			1,687			4,131			709			602					1,311
Asia Pacific and Middle East		653			629			815			743			2,840			730			642					1,372
Other International		(10	)		(2	)		334			72			394			130			87					217
Corporate and Other		(585	)		29			(298	)		(916	)		(1,770	)		279			(222	)				57
Consolidated		1,776			2,619			2,906			2,672			9,973			2,687			2,058					4,745
EFFECTIVE INCOME TAX RATES
Alaska*		19.9	%		21.4	%		20.1	%		5.4	%		17.2	%		23.9	%		20.5	%				22.1	%
Lower 48		22.6	%		21.7	%		22.2	%		19.3	%		21.3	%		26.2	%		23.1	%				24.6	%
Canada		38.4	%		29.7	%		31.2	%		361.3	%		291.3	%		-66.4	%		-1.0	%				-28.7	%
Europe and North Africa		68.3	%		66.3	%		70.3	%		35.4	%		54.8	%		70.8	%		32.4	%				53.2	%
Asia Pacific and Middle East		27.6	%		23.5	%		27.8	%		22.4	%		25.4	%		26.2	%		17.1	%				21.9	%
Other International		-336.7	%		-102.3	%		5.4	%		-33.5	%		7.6	%		-1.3	%		6.6	%				1.9	%
Corporate and Other		7.5	%		5.3	%		17.3	%		0.9	%		5.8	%		3.0	%		13.3	%				-37.3	%
Consolidated		49.3	%		36.8	%		35.5	%		29.7	%		36.8	%		31.3	%		22.4	%				27.4	%
*Alaska including taxes other than income taxes.		22.4	%		36.1	%		37.1	%		24.9	%		30.3	%		38.1	%		25.8	%				31.9	%

	2018															2019
	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			Full Year			1st Qtr			2nd Qtr			3rd Qtr	4th Qtr	YTD
$ Millions
EARNINGS BY SEGMENT
Alaska		524			418			427			445			1,814			384			462					846
Lower 48		308			410			513			516			1,747			193			206					399
Canada		(65	)		33			34			61			63			122			100					222
Europe and North Africa		245			290			241			1,090			1,866			207			407					614
Asia Pacific and Middle East		461			466			577			566			2,070			525			517					1,042
Other International		(44	)		(5	)		316			97			364			131			81					212
Corporate and Other		(541	)		28			(247	)		(907	)		(1,667	)		271			(193	)				78
Consolidated		888			1,640			1,861			1,868			6,257			1,833			1,580					3,413
SPECIAL ITEMS
Alaska		79			-			-			98			177			-			81					81
Lower 48		(8	)		-			(37	)		106			61			(47	)		(125	)				(172	)
Canada		-			36			32			80			148			68			66					134
Europe and North Africa		-			32			-			805			837			-			234					234
Asia Pacific and Middle East		-			-			-			-			-			-			52					52
Other International		(34	)		-			325			93			384			147			84					231
Corporate and Other		(285	)		281			(54	)		(623	)		(681	)		517			45					562
Consolidated		(248	)		349			266			559			926			685			437					1,122
Detailed reconciliation of these items is provided on page 3.
ADJUSTED EARNINGS
Alaska		445			418			427			347			1,637			384			381					765
Lower 48		316			410			550			410			1,686			240			331					571
Canada		(65	)		(3	)		2			(19	)		(85	)		54			34					88
Europe and North Africa		245			258			241			285			1,029			207			173					380
Asia Pacific and Middle East		461			466			577			566			2,070			525			465					990
Other International		(10	)		(5	)		(9	)		4			(20	)		(16	)		(3	)				(19	)
Corporate and Other		(256	)		(253	)		(193	)		(284	)		(986	)		(246	)		(238	)				(484	)
Consolidated		1,136			1,291			1,595			1,309			5,331			1,148			1,143					2,291
ADJUSTED EFFECTIVE INCOME TAX RATES
Alaska		19.5	%		21.4	%		20.1	%		26.2	%		21.7	%		23.9	%		25.6	%				24.8	%
Lower 48		22.5	%		21.7	%		22.3	%		19.1	%		21.4	%		25.3	%		23.0	%				24.0	%
Canada		38.4	%		-1.5	%		61.1	%		20.3	%		33.6	%		26.7	%		20.8	%				24.5	%
Europe and North Africa		68.3	%		68.1	%		70.3	%		69.0	%		68.9	%		70.8	%		71.3	%				71.0	%
Asia Pacific and Middle East		27.6	%		23.5	%		27.8	%		22.4	%		25.4	%		26.2	%		24.6	%				25.4	%
																								��
Other International		0.7	%		-102.3	%		17.2	%		130.6	%		44.9	%		9.6	%		-32.9	%				4.6	%
Corporate and Other		13.8	%		5.8	%		11.3	%		-8.2	%		5.7	%		14.8	%		12.7	%				13.8	%
Consolidated		41.8	%		41.2	%		39.2	%		43.6	%		41.4	%		42.9	%		40.5	%				41.7	%

	2018															2019
$ Millions	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			Full Year			1st Qtr			2nd Qtr			3rd Qtr	4th Qtr	YTD
DETAILED SPECIAL ITEMS
Alaska
Pending claims and settlements		101			-			-			-			101			-			69					69
Subtotal before income taxes		101			-			-			-			101			-			69					69
Income tax provision (benefit)1		22			-			-			(98	)		(76	)		-			(12	)				(12	)
Total		79			-			-			98			177			-			81					81
Lower 48
Restructuring		-			-			(20	)		(3	)		(23	)		-			-					-
Impairments		(10	)		-			(43	)		-			(53	)		(60	)		(95	)				(155	)
Gain (loss) on asset sales		-			-			56			136			192			-			-					-
Pending claims and settlements		-			-			(41	)		-			(41	)		-			(67	)				(67	)
Subtotal before income taxes		(10	)		-			(48	)		133			75			(60	)		(162	)				(222	)
Income tax provision (benefit)1		(2	)		-			(11	)		27			14			(13	)		(37	)				(50	)
Total		(8	)		-			(37	)		106			61			(47	)		(125	)				(172	)
Canada
Gain (loss) on asset sales		-			50			45			-			95			-			56					56
Subtotal before income taxes		-			50			45			-			95			-			56					56
Income tax provision (benefit)2		-			14			13			(80	)		(53	)		(68	)		(10	)				(78	)
Total		-			36			32			80			148			68			66					134
Europe and North Africa
Impairments		-			53			-			52			105			-			-					-
Gain (loss) on asset sales		-			-			-			715			715			-			-					-
Subtotal before income taxes		-			53			-			767			820			-			-					-
Income tax provision (benefit)3		-			21			-			(38	)		(17	)		-			(234	)				(234	)
Total		-			32			-			805			837			-			234					234
Asia Pacific and Middle East
Gain (loss) on asset sales		-			-			-			-			-			-			5					5
Subtotal before income taxes		-			-			-			-			-			-			5					5
Income tax provision (benefit)4		-			-			-			-			-			-			(47	)				(47	)
Total		-			-			-			-			-			-			52					52
Other International
Pending claims and settlements		-			-			345			85			430			147			89					236
Subtotal before income taxes		-			-			345			85			430			147			89					236
Income tax provision (benefit)5		34			-			20			(8	)		46			-			5					5
Total		(34	)		-			325			93			384			147			84					231
Corporate and Other
Pension settlement expense		-			(147	)		(14	)		(35	)		(196	)		-			-					-
Pending claims and settlements		34			-			(18	)		-			16			(17	)		44					27
Premiums on early debt retirement		(206	)		(2	)		-			-			(208	)		-			-					-
Unrealized gain (loss) on CVE equity		(116	)		387			(76	)		(618	)		(423	)		337			6					343
Recognition of deferred revenue		-			60			44			-			104			248			-					248
Restructuring		-			-			(17	)		-			(17	)		-			-					-
Subtotal before income taxes		(288	)		298			(81	)		(653	)		(724	)		568			50					618
Income tax provision (benefit)		(3	)		17			(27	)		(30	)		(43	)		51			5					56
Total		(285	)		281			(54	)		(623	)		(681	)		517			45					562
Total Company		(248	)		349			266			559			926			685			437					1,122
1Includes deferred tax adjustment 4Q 2018 in Alaska, Lower 48 and Canada, and in 1Q 2019 in Canada.
2Includes deferred tax adjustment in 4Q 2018 and 1Q 2019, and 2Q 2019 Canada tax rate change.
3Includes tax adjustment in 2Q 2019 related to the announced U.K. disposition.
4Includes tax adjustment in 2Q 2019 related to the Greater Sunrise Fields disposition.
5Includes 1Q 2018 Nigeria tax settlement.

	2018															2019
	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			Full Year			1st Qtr			2nd Qtr			3rd Qtr	4th Qtr	YTD
$ Millions
CONSOLIDATED BALANCE SHEET
Assets
Cash and cash equivalents		4,984			3,234			3,716			5,915			5,915			6,218			5,941					5,941
Short-term investments		288			612			875			248			248			249			732					732
Accounts and notes receivable		4,032			3,750			4,319			3,920			3,920			3,701			3,490					3,490
Accounts and notes receivable—related parties		160			180			180			147			147			168			161					161
Investment in Cenovus Energy		1,776			2,159			2,086			1,462			1,462			1,805			1,835					1,835
Inventories		1,053			1,093			1,239			1,007			1,007			1,014			1,089					1,089
Prepaid expenses and other current assets		894			580			2,308			575			575			528			2,552					2,552
Total Current Assets		13,187			11,608			14,723			13,274			13,274			13,683			15,800					15,800
Investments and long-term receivables		9,572			9,435			9,553			9,329			9,329			9,302			8,748					8,748
Loans and advances—related parties		399			399			335			335			335			268			268					268
Net properties, plants and equipment		45,997			46,306			44,736			45,698			45,698			45,942			44,334					44,334
Other assets		1,572			1,188			1,209			1,344			1,344			2,303			2,111					2,111
Total Assets		70,727			68,936			70,556			69,980			69,980			71,498			71,261					71,261
Liabilities
Accounts payable		3,824			3,642			3,887			3,863			3,863			3,815			3,618					3,618
Accounts payable—related parties		62			24			31			32			32			31			17					17
Short-term debt		337			89			95			112			112			113			114					114
Accrued income and other taxes		1,341			1,301			1,582			1,320			1,320			1,539			1,213					1,213
Employee benefit obligations		408			511			626			809			809			470			529					529
Other accruals		1,137			1,071			1,180			1,259			1,259			1,402			3,505					3,505
Total Current Liabilities		7,109			6,638			7,401			7,395			7,395			7,370			8,996					8,996
Long-term debt		16,709			14,885			14,902			14,856			14,856			14,832			14,809					14,809
Asset retirement obligations and accrued environmental costs		7,789			7,665			7,554			7,688			7,688			7,730			5,996					5,996
Deferred income taxes		5,409			5,534			5,535			5,021			5,021			5,043			4,825					4,825
Employee benefit obligations		1,832			1,774			1,755			1,764			1,764			1,704			1,689					1,689
Other liabilities and deferred credits		1,161			1,218			1,330			1,192			1,192			1,838			1,872					1,872
Total Liabilities		40,009			37,714			38,477			37,916			37,916			38,517			38,187					38,187
Equity
Common stock issued
Par value		18			18			18			18			18			18			18					18
Capital in excess of par		46,642			46,746			46,858			46,879			46,879			46,877			46,922					46,922
Treasury stock		(40,406	)		(41,052	)		(41,979	)		(42,905	)		(42,905	)		(43,656	)		(44,906	)				(44,906	)
Accumulated other comprehensive income (loss)		(5,371	)		(5,637	)		(5,442	)		(6,063	)		(6,063	)		(5,914	)		(5,827	)				(5,827	)
Retained earnings		29,663			30,967			32,495			34,010			34,010			35,534			36,769					36,769
Total Common Stockholders' Equity		30,546			31,042			31,950			31,939			31,939			32,859			32,976					32,976
Noncontrolling Interests		172			180			129			125			125			122			98					98
Total Equity		30,718			31,222			32,079			32,064			32,064			32,981			33,074					33,074
Total Liabilities and Equity		70,727			68,936			70,556			69,980			69,980			71,498			71,261					71,261

	2018																2019
	1st Qtr				2nd Qtr			3rd Qtr			4th Qtr			Full Year			1st Qtr			2nd Qtr			3rd Qtr	4th Qtr	YTD
$ Millions
CASH FLOW INFORMATION
Cash Flows from Operating Activities
Net income (loss)		900				1,654			1,873			1,878			6,305			1,846			1,597					3,443
Depreciation, depletion and amortization		1,412				1,438			1,494			1,612			5,956			1,546			1,490					3,036
Impairments		12				(35	)		44			6			27			1			1					2
Dry hole costs and leasehold impairments		20				16			28			31			95			27			41					68
Accretion on discounted liabilities		88				89			89			87			353			86			87					173
Deferred taxes		65		��		197			136			(115	)		283			(1	)		(220	)				(221	)
Undistributed equity earnings		(34	)			128			(105	)		163			152			24			338					362
Gain on dispositions		(7	)			(55	)		(113	)		(888	)		(1,063	)		(17	)		(82	)				(99	)
Other		29				(267	)		15			414			191			(564	)		170					(394	)
Net working capital changes		(86	)			177			(51	)		595			635			(54	)		(531	)				(585	)
Net Cash Provided by Operating Activities		2,399				3,342			3,410			3,783			12,934			2,894			2,891					5,785
Cash Flows from Investing Activities
Capital expenditures and investments		(1,535	)			(1,999	)		(1,599	)		(1,617	)		(6,750	)		(1,637	)		(1,729	)				(3,366	)
Working capital changes associated with investing activities		28				(120	)		35			(11	)		(68	)		107			(83	)				24
Proceeds from asset dispositions		169				139			86			688			1,082			142			559					701
Net sales (purchases) of short-term investments		1,593				(336	)		(261	)		624			1,620			(1	)		(484	)				(485	)
Long-term collections from (advances to)
related parties and other investments		(333	)			367			101			138			273			(88	)		276					188
Net Cash Provided by (Used in) Investing Activities		(78	)			(1,949	)		(1,638	)		(178	)		(3,843	)		(1,477	)		(1,461	)				(2,938	)
Cash Flows from Financing Activities
Repayment of debt		(2,888	)			(2,064	)		(18	)		(25	)		(4,995	)		(19	)		(19	)				(38	)
Issuance of company common stock		(18	)			60			79			-			121			(38	)		2					(36	)
Repurchase of company common stock		(500	)			(646	)		(927	)		(926	)		(2,999	)		(752	)		(1,250	)				(2,002	)
Dividends paid		(338	)			(337	)		(334	)		(354	)		(1,363	)		(350	)		(346	)				(696	)
Other		(32	)			(16	)		(63	)		(12	)		(123	)		(14	)		(41	)				(55	)
Net Cash Provided by (Used in) Financing Activities		(3,776	)			(3,003	)		(1,263	)		(1,317	)		(9,359	)		(1,173	)		(1,654	)				(2,827	)
Effect of Exchange Rate Changes		125				(139	)		(26	)		(77	)		(117	)		75			(49	)				26
Net Change in Cash, Cash Equivalents and Restricted Cash		(1,330	)			(1,749	)		483			2,211			(385	)		319			(273	)				46
Cash, cash equivalents and restricted cash at beginning of period		6,536				5,206			3,457			3,940			6,536			6,151			6,470					6,151
Cash, Cash Equivalents and Restricted Cash at End of Period		5,206				3,457			3,940			6,151			6,151			6,470			6,197					6,197
CAPITAL EXPENDITURES AND INVESTMENTS
Alaska		263				581			190			264			1,298			410			370					780
Lower 48		751				889			835			709			3,184			834			936					1,770
Canada		173				45			100			159			477			123			109					232
Europe and North Africa		216				246			216			199			877			157			182					339
Asia Pacific and Middle East		99				194			200			225			718			96			123					219
Other International		1				2			3			-			6			1			-					1
Corporate and Other		32				42			55			61			190			16			9					25
Total Capital Expenditures and Investments		1,535				1,999			1,599			1,617			6,750			1,637			1,729					3,366

	2018										2019
	1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		Full Year		1st Qtr		2nd Qtr			3rd Qtr	4th Qtr	YTD
TOTAL SEGMENTS
Production
Total (MBOED)		1,269		1,249		1,261		1,357		1,283		1,361		1,332					1,346
Crude Oil (MBD)
Consolidated operations		621		610		622		705		639		703		688					695
Equity affiliates		15		14		13		12		14		12		14					13
Total		636		624		635		717		653		715		702					708
Over (under) lifting of crude oil (MBD)		15		9		28		11		16		8		(3	)				3
NGL (MBD)
Consolidated operations		88		95		98		98		95		103		110					107
Equity affiliates		8		8		8		7		7		7		8					7
Total		96		103		106		105		102		110		118					114
Bitumen (MBD)
Consolidated operations		66		63		65		71		66		63		51					57
Equity affiliates		-		-		-		-		-		-		-					-
Total		66		63		65		71		66		63		51					57
Natural Gas (MMCFD)
Consolidated operations		1,775		1,700		1,707		1,793		1,743		1,852		1,704					1,778
Equity affiliates		1,053		1,054		1,025		992		1,031		988		1,064					1,026
Total		2,828		2,754		2,732		2,785		2,774		2,840		2,768					2,804
Industry Prices
Crude Oil ($/BBL)
WTI		62.88		67.99		69.71		59.09		64.92		54.87		59.80					57.33
WCS		38.60		48.72		47.47		19.64		38.61		42.58		49.13					45.85
Brent dated		66.76		74.35		75.27		67.76		71.04		63.20		68.82					66.01
JCC ($/BBL)		58.62		66.66		71.51		76.66		68.36		76.98		63.72					70.35
Natural Gas ($/MMBTU)
Henry Hub first of month		3.01		2.80		2.91		3.65		3.09		3.15		2.64					2.90
Average Realized Prices
Total ($/BBL)		50.49		54.32		57.71		53.00		53.88		50.59		50.50					50.55
Crude Oil ($/BBL)
Consolidated operations		65.47		70.42		72.97		63.74		68.03		59.45		64.90					62.14
Equity affiliates		66.50		76.11		76.62		70.73		72.49		59.53		63.98					61.94
Total		65.49		70.55		73.05		63.86		68.13		59.45		64.88					62.14
NGL ($/BBL)
Consolidated operations		26.68		28.57		33.80		26.61		29.03		22.74		19.97					21.31
Equity affiliates		43.99		43.60		49.71		45.48		45.69		38.19		41.72					40.09
Total		28.37		29.94		35.14		28.04		30.48		23.85		21.65					22.71
Bitumen ($/BBL)
Consolidated operations		14.06		32.38		34.15		11.65		22.29		33.15		37.20					35.00
Equity affiliates		-		-		-		-		-		-		-					-
Total		14.06		32.38		34.15		11.65		22.29		33.15		37.20					35.00
Natural Gas ($/MCF)
Consolidated operations		5.18		4.85		5.48		6.05		5.40		5.27		4.08					4.70
Equity affiliates		5.04		5.72		6.35		7.15		6.06		7.31		5.81					6.53
Total		5.13		5.18		5.81		6.46		5.65		6.00		4.76					5.39
Exploration Expenses ($ Millions)
Dry holes		15		1		12		11		39		10		16					26
Leasehold impairment		5		15		16		20		56		17		25					42
Total noncash expenses		20		16		28		31		95		27		41					68
Other (G&A, G&G and lease rentals)		75		53		75		71		274		83		81					164
Total exploration expenses		95		69		103		102		369		110		122					232
U.S. exploration expenses		66		49		59		58		232		75		70					145
International exploration expenses		29		20		44		44		137		35		52					87
DD&A ($ Millions)
Alaska		185		182		161		213		741		205		208					413
Lower 48		498		553		603		653		2,307		621		709					1,330
Canada		91		85		89		50		315		56		48					104
Europe and North Africa		285		275		281		278		1,119		273		173					446
Asia Pacific and Middle East		327		317		334		390		1,368		375		338					713
Other International		-		-		-		-		-		-		-					-
Corporate and Other		26		26		26		28		106		16		14					30
Total DD&A		1,412		1,438		1,494		1,612		5,956		1,546		1,490					3,036

	2018										2019
	1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		Full Year		1st Qtr		2nd Qtr		3rd Qtr	4th Qtr	YTD
PRODUCTION
Crude Oil (MBD)
Alaska		174		170		152		187		171		210		199				205
Lower 48		197		218		240		262		229		245		269				257
Canada		2		1		1		1		1		1		1				1
Norway		89		82		89		89		87		89		73				81
United Kingdom		29		23		23		29		26		25		20				22
Libya		40		34		33		39		36		38		37				38
Europe and North Africa		158		139		145		157		149		152		130				141
Australia/Timor-Leste		4		3		3		5		4		6		7				6
China		37		29		34		42		36		41		37				39
Indonesia		2		2		2		2		2		2		2				2
Malaysia		47		48		45		49		47		46		43				44
Equity affiliates		15		14		13		12		14		12		14				13
AP/ME		105		96		97		110		103		107		103				104
Total		636		624		635		717		653		715		702				708
NGL (MBD)
Alaska		16		14		12		16		14		17		17				17
Lower 48		60		70		73		71		69		74		82				78
Canada		-		-		2		-		1		-		1				-
Norway		4		4		4		3		4		4		3				4
United Kingdom		4		4		4		4		4		4		3				4
Europe and North Africa		8		8		8		7		8		8		6				8
Australia/Timor-Leste		4		3		3		4		3		4		4				4
Equity affiliates		8		8		8		7		7		7		8				7
AP/ME		12		11		11		11		10		11		12				11
Total		96		103		106		105		102		110		118				114
Bitumen (MBD)
Canada		66		63		65		71		66		63		51				57
Total		66		63		65		71		66		63		51				57
Natural Gas (MMCFD)
Alaska		7		6		5		7		6		8		7				7
Lower 48		568		593		608		616		596		568		593				581
Canada		13		14		12		9		12		7		8				8
Norway		208		172		189		206		194		263		244				253
United Kingdom		309		309		238		270		281		310		247				278
Libya		31		26		25		31		28		31		27				29
Europe and North Africa		548		507		452		507		503		604		518				560
Australia/Timor-Leste		295		241		289		276		275		273		202				238
Indonesia		307		305		316		307		309		311		314				313
Malaysia		37		34		25		71		42		81		62				71
Equity affiliates		1,053		1,054		1,025		992		1,031		988		1,064				1,026
AP/ME		1,692		1,634		1,655		1,646		1,657		1,653		1,642				1,648
Total		2,828		2,754		2,732		2,785		2,774		2,840		2,768				2,804
Total (MBOED)
Alaska		191		185		165		204		186		228		217				223
Lower 48		352		387		414		436		397		414		450				432
Canada		70		67		70		74		70		65		54				59
Norway		128		114		125		126		123		137		117				127
United Kingdom		85		78		67		78		77		80		64				72
Libya		45		38		37		44		41		43		42				43
Europe and North Africa		258		230		229		248		241		260		223				242
Australia/Timor-Leste		57		46		54		55		53		56		45				50
China		37		29		34		42		36		41		37				39
Indonesia		53		53		54		53		53		54		54				54
Malaysia		53		54		49		61		54		60		53				56
Equity affiliates		198		198		192		184		193		183		199				191
AP/ME		398		380		383		395		389		394		388				390
Total		1,269		1,249		1,261		1,357		1,283		1,361		1,332				1,346

	2018										2019
	1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		Full Year		1st Qtr		2nd Qtr			3rd Qtr	4th Qtr	YTD
AVERAGE REALIZED PRICES
Crude Oil ($/BBL)
Consolidated operations
Alaska		68.31		72.49		76.47		66.58		70.86		62.81		67.57					65.11
Lower 48		61.99		65.79		67.73		57.08		62.99		53.15		59.17					56.31
Canada		-		-		-		-		48.73		-		-					-
Norway		65.84		73.13		77.74		70.19		71.61		63.16		70.09					66.35
United Kingdom		64.27		70.97		76.51		66.56		69.00		59.74		69.22					65.46
Libya		65.90		72.86		73.42		68.30		69.83		63.22		68.95					66.04
Europe and North Africa		65.57		72.65		76.54		68.97		70.71		62.83		69.65					66.16
Australia/Timor-Leste		70.71		72.25		71.12		68.88		70.70		59.39		62.22					60.64
China		62.49		69.51		70.71		62.37		65.94		59.23		65.40					61.52
Indonesia		58.60		49.93		55.16		50.54		53.34		47.07		51.62					49.51
Malaysia		70.42		78.42		79.32		73.50		75.33		67.33		73.99					70.54
AP/ME		67.07		74.88		74.78		67.76		70.93		62.94		69.78					65.93
Total consolidated operations		65.47		70.42		72.97		63.74		68.03		59.45		64.90					62.14
Equity affiliates		66.50		76.11		76.62		70.73		72.49		59.53		63.98					61.94
Total		65.49		70.55		73.05		63.86		68.13		59.45		64.88					62.14
															��
NGL ($/BBL)
Consolidated operations
Lower 48		24.57		26.71		32.17		25.13		27.30		20.66		17.91					19.20
Canada		-		-		-		-		43.70		-		-					-
Norway		32.58		41.12		35.57		33.23		35.56		33.37		29.42					32.58
United Kingdom		33.43		39.77		40.43		37.14		38.13		27.65		32.75					30.57
Europe and North Africa		32.98		40.35		38.80		34.75		36.87		31.15		32.00					31.49
Australia/Timor-Leste		44.36		44.23		52.30		42.66		47.20		40.13		39.97					40.05
AP/ME		44.36		44.23		52.30		42.66		47.20		40.13		39.97					40.05
Total consolidated operations		26.68		28.57		33.80		26.61		29.03		22.74		19.97					21.31
Equity affiliates		43.99		43.60		49.71		45.48		45.69		38.19		41.72					40.09
Total		28.37		29.94		35.14		28.04		30.48		23.85		21.65					22.71
Bitumen ($/BBL)
Canada*		14.06		32.38		34.15		11.65		22.29		33.15		37.20					35.00
Total		14.06		32.38		34.15		11.65		22.29		33.15		37.20					35.00
Natural Gas ($/MCF)
Consolidated operations
Alaska		2.51		2.51		2.52		2.41		2.48		3.42		3.19					3.31
Lower 48		2.76		2.34		2.80		3.35		2.82		2.74		2.10					2.41
Canada		-		-		-		-		1.00		-		-					-
Norway		7.32		7.19		8.23		8.57		7.87		6.39		4.31					5.42
United Kingdom		7.58		7.31		7.37		8.73		7.74		6.83		4.49					5.79
Libya		5.62		5.52		4.11		4.10		4.84		4.92		4.79					4.86
Europe and North Africa		7.38		7.19		7.62		8.42		7.65		6.55		4.42					5.58
Australia/Timor-Leste**		0.62		0.69		1.14		0.79		0.82		0.83		0.78					0.80
Indonesia		6.61		6.96		7.09		7.71		7.10		6.69		7.19					6.94
Malaysia		2.78		3.06		3.11		3.64		3.25		3.84		3.57					3.73
AP/ME		5.57		5.50		6.53		6.90		6.15		6.36		5.89					6.14
Total consolidated operations		5.18		4.85		5.48		6.05		5.40		5.27		4.08					4.70
Equity affiliates		5.04		5.72		6.35		7.15		6.06		7.31		5.81					6.53
Total		5.13		5.18		5.81		6.46		5.65		6.00		4.76					5.39
*Average realized prices exclude additional value realized from third-party purchases and sales for optimization of our pipeline capacity between Canada and the U.S. Gulf Coast.
**Excludes transfers to Darwin LNG plant.

	2018															2019
	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			Full Year			1st Qtr			2nd Qtr			3rd Qtr	4th Qtr	YTD
CORPORATE AND OTHER
Corporate and Other Earnings (Loss) ($ Millions)		(541	)		28			(247	)		(907	)		(1,667	)		271			(193	)				78
Detail of Earnings (Loss) ($ Millions)
Net interest expense		(160	)		(174	)		(174	)		(172	)		(680	)		(196	)		(131	)				(327	)
Corporate G&A expenses		(50	)		(53	)		(36	)		48			(91	)		(65	)		(49	)				(114	)
Technology*		(10	)		63			64			(8	)		109			96			(10	)				86
Other		(321	)		192			(101	)		(775	)		(1,005	)		436			(3	)				433
Total		(541	)		28			(247	)		(907	)		(1,667	)		271			(193	)				78
*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		(221	)		(222	)		(236	)		(226	)		(905	)		(243	)		(178	)				(421	)
Capitalized interest		37			45			50			38			170			10			13					23
Interest revenue		22			15			18			24			79			32			33					65
Total		(162	)		(162	)		(168	)		(164	)		(656	)		(201	)		(132	)				(333	)
Debt
Total debt ($ Millions)		17,046			14,974			14,997			14,968			14,968			14,945			14,923					14,923
Debt-to-capital ratio (%)		36	%		32	%		32	%		32	%		32	%		31	%		31	%				31	%
Equity ($ Millions)		30,718			31,222			32,079			32,064			32,064			32,981			33,074					33,074

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