COP · 10-Q · 2026Q2 · Full report
Segment Revenue Performance
CONOCOPHILLIPS · 2026-08-06 · Importance 64 · Surprise 56 · No source text
Lower 48 revenue increased 30.8% to $13.028 billion in the second quarter and 12.1% to $24.108 billion for the first six months, while quarterly earnings increased to $2.584 billion from $1.399 billion. Alaska quarterly earnings increased to $522 million from $135 million as higher realized prices added $480 million, partly offset by $78 million from lower volumes. Europe, Middle East and North Africa quarterly revenue increased to $2.276 billion from $1.400 billion, and earnings increased to $346 million from $237 million. Asia Pacific quarterly earnings increased to $389 million from $330 million, while Canada quarterly earnings increased to $320 million from $149 million despite lower volumes.
Key facts
- Lower 48 segment sales and other operating revenues for the three months ended June 30, 2026: $13,028 million; net income for the three months: $2,584 million; average production for Lower 48 in the three months: 1,479 MBOED. source
- Alaska segment sales and other operating revenues for the three months ended June 30, 2026: $1,873 million; net income for the three months: $522 million; average production decreased 20 MBOED for the three months ended June 30, 2026. source
- Canada segment sales and other operating revenues for the three months ended June 30, 2026: $1,304 million; net income for the three months: $320 million; average production decreased 39 MBOED in the three months ended June 30, 2026. source
- EMENA segment sales and other operating revenues for the three months ended June 30, 2026: $2,276 million; net income for the three months: $346 million; EMENA contributed 8% of consolidated liquids production and 18% of consolidated natural gas production as of June 30, 2026. source
- Asia Pacific segment sales and other operating revenues for the three months ended June 30, 2026: $1,175 million; Asia Pacific contributed 4% of consolidated liquids production and 3% of consolidated natural gas production as of June 30, 2026. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | positive | realized | — | Lower 48 segment sales and other operating revenues for the three months ended June 30, 2026: $13,028 million; net income for the three… |
| net_income | positive | realized | — | Lower 48 segment sales and other operating revenues for the three months ended June 30, 2026: $13,028 million; net income for the three… |