A Look at ConocoPhillips’s Oil and Gas Revenue Mix



ConocoPhillips’s oil and gas revenue mix

  • In 2Q16, ConocoPhillips’s (COP) operating revenue from crude oil (USO), natural gas (UNG), bitumen, and natural gas liquids sales totaled ~$3.7 billion, a fall of ~32% compared to 2Q15.
  • As you can see in the above graph, for 2Q16, ConocoPhillips’s ~$2.3 billion, or ~63%, of E&P (exploration and production) revenues came from crude oil sales. About $882 million, or 24%, came from natural gas sales; ~$264 million, or ~7%, came from bitumen sales; and only ~$218 million, or ~6%, came from natural gas liquids sales.
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Other upstream players

Other upstream companies such as Energen (EGN), EOG Resources (EOG), and Diamondback Energy (FANG) also generate the majority of their operating revenues from crude oil sales.


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