COP · 10-Q · 2026Q2 · Full report

Capital Expenditures and Cash Flow

CONOCOPHILLIPS · 2026-08-06 · Importance 65 · Surprise 48 · From source text

Six-month cash provided by operating activities increased 22.2% to $11.729 billion from $9.600 billion. Capital expenditures and investments totaled $5.972 billion in the first six months of 2026, down from $6.664 billion in the prior-year period. Operating cash flow exceeded capital expenditures and investments by approximately $5.757 billion in the first six months of 2026.

Key facts

• Net cash used in investing activities for the six months ended June 30, 2026: $(6,319) million; for the six months ended June 30, 2025: $(4,807) million. source
• Capital expenditures and investments (cash flows from investing activities) for the six months ended June 30, 2026: $(5,972) million; for the six months ended June 30, 2025: $(6,664) million. source
• Reinvested $3.0 billion into the business in the second quarter of 2026 in the form of capital expenditures and investments, with over half related to Lower 48 unconventional plays. source
• During the first six months of 2026, the primary uses of our available cash were $6.0 billion to support our ongoing capital expenditures and investments program. source
• Investing activities in the first six months of 2026 included net purchases of $652 million of investments, comprised of net purchases of $365 million of short-term investments and net purchases of $287 million of long-term investments. source
• During the first six months of 2026, the primary uses of our available cash included $0.7 billion of net purchases of investments. source

Impact estimates