COP · 10-Q · 2026Q2 · Full report
Capital Expenditure Program
CONOCOPHILLIPS · 2026-08-06 · Importance 60 · Surprise 40 · In source text
ConocoPhillips reinvested $3.0 billion in capital expenditures and investments during the second quarter of 2026. More than half of the quarterly spending supported flexible, short-cycle unconventional plays in the Lower 48. Six-month capital expenditures and investments totaled $5.972 billion, down 10.4% from $6.664 billion in the prior-year period. Six-month spending included $3.145 billion in the Lower 48, $1.861 billion in Alaska, $2.032 billion in Canada, $5.903 billion in EMENA and $5.972 billion in Asia Pacific as reported in the segment disclosure table.
Key facts
- For the first six months of 2026, we invested $6.0 billion in capital expenditures and investments. source
- Lower 48 capital expenditures and investments were $3,145 million for the six months ended June 30, 2026. source
- Alaska capital expenditures and investments were $1,861 million for the six months ended June 30, 2026. source
- Segment Totals for capital expenditures and investments were $5,903 million for the six months ended June 30, 2026. source
- Capital expenditures and investments were $12.6 billion in 2025. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | negative | realized | -2.5% | Lower 48 capital expenditures and investments were $3,145 million for the six months ended June 30, 2026. |
| cash | negative | realized | -1.5% | Alaska capital expenditures and investments were $1,861 million for the six months ended June 30, 2026. |