ConocoPhillips is an American multinational energy corporation.
Conoco Inc. was an American oil company founded in 1875 as the Continental Oil and Transportation Co.
It is the world's largest independent pure-play exploration and production company and is a Fortune 500 company.[
ConocoPhillips was created through the merger of American oil companies Conoco Inc. and Phillips Petroleum Co. on August 30, 2002.
ConocoPhillips focuses solely on exploring for, developing and producing oil and natural gas globally.
The company manages its operations through 6 operating segments, which are defined by geographic region: Alaska, Lower 48 and Latin America, Canada, Europe, Asia Pacific and Middle East, and Other International.
In 2017, Conoco sold oil sands assets in Canada to Cenovus Energy and natural gas fields in the U.S. for a total of $16 billion to help reduce debt and fund $6 billion share purchases.
As a result, it also led to a reduction of close to 30 % of its proved oil and gas reserves.