Analysis of Geographic Areas

ConocoPhillips operates in 12 regions: United States; Australia; Canada; China; Equatorial Guinea; Indonesia; Libya; Malaysia; Norway; Singapore; United Kingdom; and Other foreign countries.

Area Asset Turnover
- United States
- Australia
- Canada
- China
- Equatorial Guinea
- Indonesia
- Libya
- Malaysia
- Norway
- Singapore
- United Kingdom
- Other foreign countries
Sales and other operating revenues
Long-lived assets

Area Asset Turnover

ConocoPhillips, asset turnover by geographic area

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
United States	0.55	0.84	1.19	0.69	0.55
Australia	0.00	0.00	0.00	0.00	0.09
Canada	0.39	0.31	0.59	0.38	0.20
China	0.57	0.58	0.74	0.49	0.31
Equatorial Guinea	0.04	—	—	—	—
Indonesia	—	—	—	31.39	1.48
Libya	2.32	2.46	2.22	1.67	0.23
Malaysia	1.06	1.02	1.19	0.78	0.41
Norway	0.62	0.54	0.78	0.55	0.27
Singapore	—	—	—	—	—
United Kingdom	898.00	989.00	6,273.00	2,236.00	336.00
Other foreign countries	0.00	0.00	0.00	0.01	0.01

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

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Area activity ratio	Geographic area	The company
Area asset turnover	United States	United States area asset turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024.
	Australia
	Canada	Canada area asset turnover ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024.
	China	China area asset turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024.
	Equatorial Guinea
	Indonesia
	Libya	Libya area asset turnover ratio improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024 not reaching 2022 level.
	Malaysia	Malaysia area asset turnover ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024.
	Norway	Norway area asset turnover ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024.
	Singapore
	United Kingdom	United Kingdom area asset turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024.
	Other foreign countries	Other foreign countries area asset turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024.

Area Asset Turnover: United States

ConocoPhillips; United States; area asset turnover calculation

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Selected Financial Data (US$ in millions)
Sales and other operating revenues	43,480)	45,101)	60,899)	34,847)	13,230)
Long-lived assets	79,141)	53,955)	51,200)	50,580)	24,034)
Area Activity Ratio
Area asset turnover¹	0.55	0.84	1.19	0.69	0.55

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

¹ 2024 Calculation
Area asset turnover = Sales and other operating revenues ÷ Long-lived assets
= 43,480 ÷ 79,141 = 0.55

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Area activity ratio	Geographic area	The company
Area asset turnover	United States	United States area asset turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024.

Area Asset Turnover: Australia

ConocoPhillips; Australia; area asset turnover calculation

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Selected Financial Data (US$ in millions)
Sales and other operating revenues	—)	—)	—)	—)	605)
Long-lived assets	4,987)	5,426)	6,158)	5,579)	6,676)
Area Activity Ratio
Area asset turnover¹	0.00	0.00	0.00	0.00	0.09

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

¹ 2024 Calculation
Area asset turnover = Sales and other operating revenues ÷ Long-lived assets
= 0 ÷ 4,987 = 0.00

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Area activity ratio	Geographic area	The company
Area asset turnover	Australia

Area Asset Turnover: Canada

ConocoPhillips; Canada; area asset turnover calculation

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Selected Financial Data (US$ in millions)
Sales and other operating revenues	3,405)	3,006)	3,714)	2,494)	1,261)
Long-lived assets	8,773)	9,666)	6,269)	6,608)	6,385)
Area Activity Ratio
Area asset turnover¹	0.39	0.31	0.59	0.38	0.20

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

¹ 2024 Calculation
Area asset turnover = Sales and other operating revenues ÷ Long-lived assets
= 3,405 ÷ 8,773 = 0.39

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Area activity ratio	Geographic area	The company
Area asset turnover	Canada	Canada area asset turnover ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024.

Area Asset Turnover: China

ConocoPhillips; China; area asset turnover calculation

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Selected Financial Data (US$ in millions)
Sales and other operating revenues	939)	952)	1,135)	724)	460)
Long-lived assets	1,651)	1,635)	1,538)	1,476)	1,491)
Area Activity Ratio
Area asset turnover¹	0.57	0.58	0.74	0.49	0.31

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

¹ 2024 Calculation
Area asset turnover = Sales and other operating revenues ÷ Long-lived assets
= 939 ÷ 1,651 = 0.57

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Area activity ratio	Geographic area	The company
Area asset turnover	China	China area asset turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024.

Area Asset Turnover: Equatorial Guinea

ConocoPhillips; Equatorial Guinea; area asset turnover calculation

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Selected Financial Data (US$ in millions)
Sales and other operating revenues	66)	—)	—)	—)	—)
Long-lived assets	1,593)	—)	—)	—)	—)
Area Activity Ratio
Area asset turnover¹	0.04	—	—	—	—

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

¹ 2024 Calculation
Area asset turnover = Sales and other operating revenues ÷ Long-lived assets
= 66 ÷ 1,593 = 0.04

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Area activity ratio	Geographic area	The company
Area asset turnover	Equatorial Guinea

Area Asset Turnover: Indonesia

ConocoPhillips; Indonesia; area asset turnover calculation

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Selected Financial Data (US$ in millions)
Sales and other operating revenues	—)	—)	159)	879)	689)
Long-lived assets	—)	—)	—)	28)	464)
Area Activity Ratio
Area asset turnover¹	—	—	—	31.39	1.48

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

¹ 2024 Calculation
Area asset turnover = Sales and other operating revenues ÷ Long-lived assets
= 0 ÷ 0 = —

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Area activity ratio	Geographic area	The company
Area asset turnover	Indonesia

Area Asset Turnover: Libya

ConocoPhillips; Libya; area asset turnover calculation

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Selected Financial Data (US$ in millions)
Sales and other operating revenues	1,703)	1,730)	1,582)	1,102)	155)
Long-lived assets	733)	703)	714)	659)	670)
Area Activity Ratio
Area asset turnover¹	2.32	2.46	2.22	1.67	0.23

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

¹ 2024 Calculation
Area asset turnover = Sales and other operating revenues ÷ Long-lived assets
= 1,703 ÷ 733 = 2.32

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Area activity ratio	Geographic area	The company
Area asset turnover	Libya	Libya area asset turnover ratio improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024 not reaching 2022 level.

Area Asset Turnover: Malaysia

ConocoPhillips; Malaysia; area asset turnover calculation

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Selected Financial Data (US$ in millions)
Sales and other operating revenues	908)	961)	1,312)	975)	610)
Long-lived assets	856)	939)	1,107)	1,252)	1,501)
Area Activity Ratio
Area asset turnover¹	1.06	1.02	1.19	0.78	0.41

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

¹ 2024 Calculation
Area asset turnover = Sales and other operating revenues ÷ Long-lived assets
= 908 ÷ 856 = 1.06

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Area activity ratio	Geographic area	The company
Area asset turnover	Malaysia	Malaysia area asset turnover ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024.

Area Asset Turnover: Norway

ConocoPhillips; Norway; area asset turnover calculation

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Selected Financial Data (US$ in millions)
Sales and other operating revenues	2,405)	2,408)	3,415)	2,563)	1,426)
Long-lived assets	3,850)	4,489)	4,369)	4,681)	5,294)
Area Activity Ratio
Area asset turnover¹	0.62	0.54	0.78	0.55	0.27

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

¹ 2024 Calculation
Area asset turnover = Sales and other operating revenues ÷ Long-lived assets
= 2,405 ÷ 3,850 = 0.62

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Area activity ratio	Geographic area	The company
Area asset turnover	Norway	Norway area asset turnover ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024.

Area Asset Turnover: Singapore

ConocoPhillips; Singapore; area asset turnover calculation

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Selected Financial Data (US$ in millions)
Sales and other operating revenues	37)	—)	—)	—)	—)
Long-lived assets	—)	—)	—)	—)	—)
Area Activity Ratio
Area asset turnover¹	—	—	—	—	—

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

¹ 2024 Calculation
Area asset turnover = Sales and other operating revenues ÷ Long-lived assets
= 37 ÷ 0 = —

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Area activity ratio	Geographic area	The company
Area asset turnover	Singapore

Area Asset Turnover: United Kingdom

ConocoPhillips; United Kingdom; area asset turnover calculation

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Selected Financial Data (US$ in millions)
Sales and other operating revenues	1,796)	1,978)	6,273)	2,236)	336)
Long-lived assets	2)	2)	1)	1)	1)
Area Activity Ratio
Area asset turnover¹	898.00	989.00	6,273.00	2,236.00	336.00

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

¹ 2024 Calculation
Area asset turnover = Sales and other operating revenues ÷ Long-lived assets
= 1,796 ÷ 2 = 898.00

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Area activity ratio	Geographic area	The company
Area asset turnover	United Kingdom	United Kingdom area asset turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024.

Area Asset Turnover: Other foreign countries

ConocoPhillips; Other foreign countries; area asset turnover calculation

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Selected Financial Data (US$ in millions)
Sales and other operating revenues	6)	5)	5)	8)	12)
Long-lived assets	1,380)	1,134)	1,003)	748)	1,087)
Area Activity Ratio
Area asset turnover¹	0.00	0.00	0.00	0.01	0.01

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

¹ 2024 Calculation
Area asset turnover = Sales and other operating revenues ÷ Long-lived assets
= 6 ÷ 1,380 = 0.00

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Area activity ratio	Geographic area	The company
Area asset turnover	Other foreign countries	Other foreign countries area asset turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024.

Sales and other operating revenues

ConocoPhillips, sales and other operating revenues by geographic area

US$ in millions

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
United States	43,480)	45,101)	60,899)	34,847)	13,230)
Australia	—)	—)	—)	—)	605)
Canada	3,405)	3,006)	3,714)	2,494)	1,261)
China	939)	952)	1,135)	724)	460)
Equatorial Guinea	66)	—)	—)	—)	—)
Indonesia	—)	—)	159)	879)	689)
Libya	1,703)	1,730)	1,582)	1,102)	155)
Malaysia	908)	961)	1,312)	975)	610)
Norway	2,405)	2,408)	3,415)	2,563)	1,426)
Singapore	37)	—)	—)	—)	—)
United Kingdom	1,796)	1,978)	6,273)	2,236)	336)
Other foreign countries	6)	5)	5)	8)	12)
Worldwide consolidated	54,745)	56,141)	78,494)	45,828)	18,784)

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

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Long-lived assets

ConocoPhillips, long-lived assets by geographic area

US$ in millions

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
United States	79,141)	53,955)	51,200)	50,580)	24,034)
Australia	4,987)	5,426)	6,158)	5,579)	6,676)
Canada	8,773)	9,666)	6,269)	6,608)	6,385)
China	1,651)	1,635)	1,538)	1,476)	1,491)
Equatorial Guinea	1,593)	—)	—)	—)	—)
Indonesia	—)	—)	—)	28)	464)
Libya	733)	703)	714)	659)	670)
Malaysia	856)	939)	1,107)	1,252)	1,501)
Norway	3,850)	4,489)	4,369)	4,681)	5,294)
Singapore	—)	—)	—)	—)	—)
United Kingdom	2)	2)	1)	1)	1)
Other foreign countries	1,380)	1,134)	1,003)	748)	1,087)
Worldwide consolidated	102,966)	77,949)	72,359)	71,612)	47,603)

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

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ConocoPhillips (NYSE:COP)

Analysis of Geographic Areas

Area Asset Turnover

Area Asset Turnover: United States

Area Asset Turnover: Australia

Area Asset Turnover: Canada

Area Asset Turnover: China

Area Asset Turnover: Equatorial Guinea

Area Asset Turnover: Indonesia

Area Asset Turnover: Libya

Area Asset Turnover: Malaysia

Area Asset Turnover: Norway

Area Asset Turnover: Singapore

Area Asset Turnover: United Kingdom

Area Asset Turnover: Other foreign countries

Sales and other operating revenues

Long-lived assets