Canada
Fact Sheet—March 2017
2016 Production*
The company’s Canadian operations are comprised primarily of natural gas fields in western
Canada and oil sands assets in the Athabasca region of northeastern Alberta.
300
Current investment programs are focused on liquids-rich unconventional plays in western Canada,
where the company also holds a significant acreage position in emerging opportunities. The
business has a long-term strategic plan to develop its captured resource base, which includes
bitumen, natural gas liquids, crude oil and natural gas.
Thousand
barrels of oil
equivalent per day
2016 Proved Reserves
ConocoPhillips’ steam-assisted gravity drainage (SAGD) assets in the Canadian oil sands
represent a net resource of 14 billion barrels that offer growing, long-lived production. These are
assets where technology improvements can contribute significant economic and environmental
benefits to the large resource base and add value to the company’s portfolio.
1.5
Billion
barrels of oil
equivalent
ConocoPhillips—Average Daily Net Production, 2016*
Area
Crude Oil
NGLBitumen
Natural Gas
Total
Interest
Operator (MBD) (MBD)(MBD) (MMCFD)(MBOED)
Deep Basin VariousVarious 110 – 207 46
Kaybob-Edson VariousVarious 2 5– 18237
Clearwater VariousVarious
Western Canada Total
Surmont 4
8
–
135
34
7
23
–
524
117
50.0%ConocoPhillips–
– 35
–
35
Foster Creek 50.0%
Cenovus Energy–
– 70
–
70
Christina Lake 50.0%
Cenovus Energy
–
–
78
–
78
Oil Sands Total
–
–
183
–
183
Canada Total
7
23
183
524
300
Production
Production
2016 Production Mix*
CapitalCapital
2016 Capital Expenditures and Investments
2016 Production*
2%
8%
Crude Oil
NGL
293
309
254
321
214
279
29%
145
$ Millions
MBOED
Natural Gas
85
61%
Bitumen
1Q
2Q
3Q
4Q
* Full-year 2016 production in the Canada segment was 295 MBOED when adjusted for the full-year impact of 2016 asset dispositions, which was 5 MBOED.
See page 8 for Cautionary Statement pertaining to the use of this fact sheet.
1Q
2Q
3Q
4Q
1
Canada
Fact Sheet—March 2017
Western Canada
ConocoPhillips is one of the top natural
gas producers in Canada. In 2016, total
net production averaged 117 MBOED.
Operations are located primarily in Alberta
and British Columbia.
The company has an ownership position
in approximately 30 natural gas processing
facilities in the region. In the fourth quarter
of 2016, ConocoPhillips finalized a swap of
non-strategic producing assets for a larger
land position in the Blueberry-Montney,
adding approximately 30,000 net acres. As
of Dec. 31, 2016, the company held leasehold
rights of 3.1 million net acres.
Deep Basin
ConocoPhillips is one of the largest operators
and producers in the Deep Basin, located
in northwest Alberta and northeast British
Columbia. As of Dec. 31, 2016, the company
held leasehold rights of 1.3 million net acres
in this area.
The Deep Basin provides production
potential from 14 prospective geological
formations. It is a mature area that was
historically developed with conventional
vertical well technology. ConocoPhillips
has shifted to horizontal drilling in its
development programs to unlock the vast
resource potential in the tight sand plays.
The company drilled eight horizontal wells
in 2016.
The primary processing facility in the
Deep Basin is the ConocoPhillips-operated
Elmworth Plant. The company holds
significant working interests in five other
major natural gas processing facilities in the
region. In 2016, net production in the Deep
Basin averaged 46 MBOED.
Western Canada
BRITISH
COLUMBIA
Beaufort
Sea
ALBERTA
East Deep Basin
West Deep Basin
Kaybob
YUKON
NORTHWEST
TTERRITORIES
Edson
NUNAVUT
Clearwater
0
Labrador
Sea
170
Miles
BRITISH
COLUMBIA
ALBERTA
MANITOBA
SASKATCHEWAN
850
0
Miles
ConocoPhillips Acreage
2
Pump jacks in western Canada.
Kaybob-Edson
Clearwater
As of Dec. 31, 2016 the company held
leasehold rights of 0.7 million net acres in
the Kaybob-Edson Area, which is situated
southeast of the Deep Basin in west-central
Alberta. Target development is in the Triassic
and Lower Cretaceous formations where the
industry has de-risked several highly-prolific
zones in offsetting acreage. The company
drilled 15 horizontal wells in 2016.
The Clearwater Area is also situated in westcentral Alberta, south of Kaybob-Edson.
As of Dec. 31, 2016, the company held
leasehold rights of 0.8 million net acres.
ConocoPhillips assets in the Clearwater Area
are characterized by multi-horizon reservoirs
at medium depths ranging from 6,500 feet
to 10,000 feet, all with high-liquids content.
This is a mature area that provides the
company several low-risk, horizontal drilling
development programs.
In the Kaybob-Edson Area, natural gas
processing is mostly controlled by midstream
operators and other oil and gas companies.
ConocoPhillips has secured favorable longerterm contracts to manage both existing
base and new development volumes.
Additionally, ConocoPhillips operates natural
gas processing facilities in the area including
Peco and Wolf. Net production in KaybobEdson averaged 37 MBOED in 2016.
The company operates natural gas processing
facilities in the area including Sand Creek
and Alder. Average net production was
34 MBOED in 2016.
3
Canada
Fact Sheet—March 2017
Oil Sands
ConocoPhillips holds approximately 0.9
million net acres of land in the Athabasca
Region of northeastern Alberta. The
significant bitumen deposits on these lands
are estimated to contain approximately
14 billion net barrels of resources, making
ConocoPhillips the holder of one of the
largest land and resource positions in
the region. ConocoPhillips’ bitumen
resources in Canada are produced using
SAGD technology. SAGD involves injection
of steam into the reservoir, effectively
liquefying the heavy bitumen, which then
is recovered and pumped to the surface for
further processing.
ConocoPhillips’ net bitumen production
from the Surmont operations and FCCL
Partnership has grown by an average of
22 percent annually over the past five years.
This resulted in net production of 183 MBOED
in 2016, ranking it second among SAGD
producers in Canada. ConocoPhillips has a
number of ongoing development projects
and further opportunities in these assets.
Thornbury, Crow Lake, McMillan Lake
and Saleski
Operator: ConocoPhillips (100%)
ConocoPhillips holds other lands in the
Athabasca Region that contain substantial
bitumen resources.
Oil Sands
0
25
Miles
Saleski (WI 100%)
Fort McMurray
Anzac
Thornbury
(WI 100%)
Surmont
(WI 50%)
Crow Lake
(WI 100%)
Beaufort
Sea
Narrows Lake
(WI 50%)
Christina
Lake
(WI 50%)
McMillan Lake
(WI 100%)
Labrador
Sea
881
63
ALBERTA
858
Foster Creek
(WI 50%)
0
500
Miles
ConocoPhillips Acreage
4
Highways
Surmont 2 project achieved first production in 2015.
Surmont
Operator: ConocoPhillips (50.0%)
Co-venturer: Total (50.0%)
Surmont is an important part of the
company’s oil sands portfolio, located in
the Athabasca Region of northeastern
Alberta, approximately 35 miles south of
Fort McMurray. Surmont began in 1997 as a
pilot project with the construction of a small
SAGD facility located near the company’s
current operations.
Commercial production from Surmont 1
began in 2007. In 2010, ConocoPhillips
commenced construction of Surmont 2, and
achieved first production in the third quarter
of 2015. Net production at Surmont more
than doubled in 2016. ConocoPhillips is
focusing on structurally lowering costs and
reducing greenhouse gas intensity while
ramping up production. Current gross
production capacity is 140 MBOED, and there
is potential for debottlenecking projects to
increase capacity. In addition, opportunity
exists for future expansion. Over the life
of this multidecade project, Surmont will
provide many social and economic benefits
to the area.
5
Canada
Fact Sheet—March 2017
FCCL Partnership
Operator: Cenovus Energy (50.0%)
Co-venturer: ConocoPhillips (50.0%)
ConocoPhillips has a 50/50 upstream business
venture with Cenovus Energy. The partnership
includes Foster Creek, Christina Lake, Narrows
Lake and other properties located on the
eastern flank of the Athabasca region.
Foster Creek
Gross production at Foster Creek averaged
approximately 141 MBOED1 in 2016; an
increase of 8 percent compared with 2015.
There are currently seven phases (A-G)
producing at Foster Creek. In the fourth
quarter of 2014, FCCL received regulatory
approval for Phase J.
Christina Lake
Gross production at Christina Lake averaged
approximately 159 MBOED1 in 2016; an
increase of 6 percent compared with 2015.
There are currently six phases (A-F) producing
at Christina Lake. In the fourth quarter of
2015, FCCL received regulatory approval for
Phase H. Construction on Phase G, which
has a production capacity of 50 MBOED1
gross, will resume in 2017 after being deferred
since 2014. First production from Phase G is
expected in the second half of 2019.
Foster Creek development.
Narrows Lake
FCCL’s next major development, Narrows
Lake Phase A, was sanctioned in late 2012
and is expected to have 45 MBOED1 of gross
production capacity. Narrows Lake was
under construction in early 2015 but has
been deferred.
Christina Lake development.
Operator’s forecast and results reflect gross production before royalties.
1 6
Exploration and Business Development
ConocoPhillips
holds
interests
in
unconventional exploration areas, Arctic
Canada and Atlantic Canada.
Unconventional Exploration Areas
As of Dec. 31, 2016, the company held
approximately 0.7 million1 net acres in
unconventional exploration plays. During
2016, the company continued to drill
exploration and appraisal wells in the
Montney play, which extends from British
Columbia into Alberta.
Atlantic Canada
Arctic Canada
Beaufort Sea/Mackenzie Delta
Since the late 1960s ConocoPhillips has had
a prominent position in the Beaufort Sea and
Mackenzie Delta. In total, the company holds
interests in 49 significant discovery licenses
and one exploration license. At Dec. 31, 2016,
the total leasehold for the Beaufort Sea and
Mackenzie Delta region was approximately
0.7 million net acres.
ConocoPhillips holds interest in six exploration
licenses covering approximately five million
gross acres in the deepwater Shelburne Basin,
offshore Nova Scotia. ConocoPhillips also
holds interests in five significant discovery
licenses in the Labrador region.
Arctic Islands
In the Arctic Islands, ConocoPhillips holds
interests in 13 significant discovery licenses.
At Dec. 31, 2016, the total leasehold for
the Arctic Islands region was approximately
0.2 million net acres.
Unconventional exploration acreage includes acreage related to Canol, Montney, Muskwa and Duvernay.
Montney, Muskwa and Duvernay acreage is also included in the western Canada acreage.
1
Canada Exploration and Business Development
Arctic Islands
Beaufort Sea/Mackenzie Delta
Amauligak
Beaufort
Sea
Umiak
Parsons
Lake
0
Inuvik
Melville
Island
ALASKA
Ellef Ringnes
Island
King Christian
Island
Lougheed Island
175
Miles
Cameron
Island
Canol
0
YUKON
NORTHWEST
TERRITORIES
Unconventional Plays
ALBERTA
BRITISH
COLUMBIA
Montney
Labrador
NUNAVUT
0
BRITISH
COLUMBIA
Labrador
Sea
20
Miles
50
Miles
0 50
Miles
ALBERTA
Duvernay
Falher and Wilrich
0
130
Miles
0
500
Miles
ConocoPhillips Acreage
7
CanadaCanada
Fact Sheet—March 2017
act Sheet—March 2017
CANADA
Surmont
Narrows Lake
Christina Lake
Foster Creek
Deep Basin
Kaybob-Edson
Clearwater
Calgary
S–
Exploration and Production
Key Development or Program
ExplorationSegment
and Production
Key Development or Program
Information
President, Canada
President, Canada
Michael Hatfield
Contact Information
www.conocophillips.ca
Office Address
Gulf Canada Square
Corporate Information401 9th Avenue S.W.
Calgary, Alberta T2P 3C5
Chairman of the Board
of Directors and
Chief Executive Officer
Corporate
Information
Ryan
M. Lance
Chairman of the Board
of Directors and
OurOfficer
Company Values
Chief Executive
Ryan M. Lance
S
P
Our Company Values
SAFETY
Key Office Location
Office Address
Gulf Canada Square
401 9th Avenue S.W.
Calgary, Alberta T2P 3C5
Hatfield
SegmentMichael
Information
S
Key Office Location
SAFETY
P
PEOPLE
ConocoPhillips
600 N. Dairy Ashford Road
Houston, Texas 77079
Telephone: 281-293-1000
www.conocophillips.com
ConocoPhillips
600 N. Dairy Ashford Road
Houston, Texas 77079
Telephone: 281-293-1000
www.conocophillips.com
I
R
INTEGRITY
I
Contact Information
www.conocophillips.ca
R
Investor Relations
600 N. Dairy Ashford Road
Houston, Texas 77079
Telephone: 281-293-5000
www.conocophillips.com/investor
[email protected]
Investor
Relations
I
RESPONSIBILITY
Media Relations
600 N. Dairy Ashford Road
Houston, Texas 77079
www.conocophillips.com/media
[email protected]
600 N. Dairy Ashford Road
Houston, Texas 77079
Telephone: 281-293-5000
www.conocophillips.com/investor
[email protected]
T
INNOVATION
I
Media Relations
600 N. Dairy Ashford Road
Houston, Texas 77079
www.conocophillips.com/media
[email protected]
CAUTIONARY STATEMENT
This fact sheet contains forward-looking statements. We based the forward-looking statements on our current expectations,
estimates and projections about ourselves and the industries in which we operate in general. We caution you these statements
are not guarantees of future performance as they involve assumptions that, while made in good faith, may prove to be incorrect,
and involve
risks and uncertainties we INTEGRITY
cannot predict. In addition, RESPONSIBILITY
we based many of these forward-looking
statements on
PEOPLE
INNOVATION
assumptions about future events that may prove to be inaccurate. Accordingly, our actual outcomes and results may differ
materially from what we have expressed or forecast in the forward-looking statements. Economic, business, competitive and
other regulatory factors that may affect ConocoPhillips’ business are set forth in ConocoPhillips’ filings with the Securities and
Exchange Commission (including in Item 1A of our Form 10-K), which may be accessed at the SEC’s website at www.sec.gov.
17
TEAMWORK
T
Operations
and activities in
17 countries
(As of Dec. 31, 2016)
17
Operations
and activities in
17 countries
Definition of resources: ConocoPhillips uses the term “resources” in this document. The company estimates its total resources
based on a system developed by the Society of Petroleum Engineers that classifies recoverable hydrocarbons into six categories
based on their status at the time of reporting. Three (proved, probable and possible reserves) are deemed commercial and
three others are deemed noncommercial or contingent. The company’s resource
estimate
encompasses
volumes associated
TEAMWORK
(As of
Dec. 31,
2016)
with all six categories. The SEC permits oil and gas companies, in their filings with the SEC, to disclose only proved, probable
and possible reserves. We use the term “resource” in this fact sheet that the SEC’s guidelines prohibit us from including in filings
with the SEC. U.S. investors are urged to consider closely the oil and gas disclosure in our Form 10-K and other reports and
filings with the SEC.
Copyright ©2017 ConocoPhillips Company. All Rights Reserved.
AUTIONARY STATEMENT
his fact sheet contains forward-looking statements. We based the forward-looking statements on our current expectations,
timates and projections about ourselves and the industries in which we operate in general. We caution you these statements
e not guarantees of future performance as they involve assumptions that, while made in good faith, may prove to be incorrect,
nd involve risks and uncertainties we cannot predict. In addition, we based many of these forward-looking statements on
sumptions about future events that may prove to be inaccurate. Accordingly, our actual outcomes and results may differ
aterially from what we have expressed or forecast in the forward-looking statements. Economic, business, competitive and
her regulatory factors that may affect ConocoPhillips’ business are set forth in ConocoPhillips’ filings with the Securities and
8
Definition of resources: ConocoPhillips uses the term “resources” in this document. The company estimates its total resources
based on a system developed by the Society of Petroleum Engineers that classifies recoverable hydrocarbons into six categories
based on their status at the time of reporting. Three (proved, probable and possible reserves) are deemed commercial and
three others are deemed noncommercial or contingent. The company’s resource estimate encompasses volumes associated
with all six categories. The SEC permits oil and gas companies, in their filings with the SEC, to disclose only proved, probable
and possible reserves. We use the term “resource” in this fact sheet that the SEC’s guidelines prohibit us from including in filings
with the SEC. U.S. investors are urged to consider closely the oil and gas disclosure in our Form 10-K and other reports and