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Production by Segment
Shows output split across business lines or basins (e.g., oil vs. gas, U.S. Lower 48, international), highlighting which assets drive growth and margins. The mix matters for commodity exposure, per‑unit costs, decline rates, and where management is investing capital.ConocoPhillips’ production mix shifted materially: crude and bitumen surged into 2025 then plateaued, while natural gas and NGL volumes have more than doubled since 2020, driving most of the BOE growth and supporting the company’s free‑cash‑flow/LNG thesis. Management’s Q2/2026 guidance removes ~20k boe/d from Qatar and flags a ~15k Surmont royalty hit, explaining the modest early‑2026 pullback; added Permian activity and cost cuts target sustaining Lower‑48 oil/gas growth, so upside now depends more on U.S. execution and LNG market tightness than on restoring lost Qatar volumes.
Date | Crude Oil (MBD) | NGL (MBD) | Bitumen (MBD) | Natural Gas (MMCFD) |
|---|---|---|---|---|
Jun 30, 2026 | 1.09K | 419.00 | 115.00 | 2.85K |
Mar 31, 2026 | 1.10K | 408.00 | 118.00 | 2.82K |
Dec 31, 2025 | 1.13K | 411.00 | 133.00 | 2.86K |
Sep 30, 2025 | 1.13K | 428.00 | 123.00 | 2.94K |
Jun 30, 2025 | 1.14K | 418.00 | 144.00 | 2.85K |
Mar 31, 2025 | 1.15K | 394.00 | 143.00 | 2.84K |
Dec 31, 2024 | 1.06K | 355.00 | 139.00 | 2.49K |
Sep 30, 2024 | 945.00 | 302.00 | 87.00 | 2.15K |
Jun 30, 2024 | 942.00 | 287.00 | 133.00 | 2.12K |
Mar 31, 2024 | 928.00 | 271.00 | 129.00 | 2.04K |