COP · 10-Q · 2026Q3 · Full report

Upstream Production Volume

CONOCOPHILLIPS · 2026-11-05 · Importance 37 · Surprise 32

Third-quarter 2026 production was 2,302 MBOED, down 97 MBOED (4%) year over year; after adjusting for closed acquisitions and dispositions, it declined 40 MBOED (2%). Normal field decline drove decreases, partly offset by new wells in the Lower 48, Canada, Alaska, China, Australia and Libya. Lower 48 production contributed by new development wells more than offset normal field decline, while Canada’s production decreased amid normal decline and higher Surmont royalties, partly offset by new Montney wells. The company also brought Surmont Pad 104W-B online ahead of schedule and achieved first production at Alaska’s Coyote expansion pad in August 2026.

Key facts

• ConocoPhillips reached first production from Surmont Pad 104W-B in Canada in September 2026, ahead of schedule. source
• ConocoPhillips achieved first production at Surmont Pad 104W-B ahead of schedule and under budget. source
• The Coyote expansion pad project in Alaska's Greater Kuparuk area achieved first production in August 2026. source
• Lower 48 production decreased 11 MBOED in the third quarter and 18 MBOED in the first nine months of 2026, primarily due to asset dispositions; new-well production more than offset normal field decline. source
• Consolidated average production decreased 7 MBOED and 3 MBOED in the three- and nine-month periods ended September 30, 2026, respectively, primarily due to normal field decline. source
• Alaska production increased three MBOED in the third quarter and decreased 10 MBOED in the first nine months of 2026. source
• As of September 30, 2026, Asia Pacific contributed 3% of CONOCOPHILLIPS’s consolidated liquids production and 2% of its consolidated natural gas production. source
• Bohai Bay development activity in China partly offset consolidated production decreases. source