2004 Annual Report 2004 Annual Report
ConocoPhillips 2004 Annual Report 2004 Annual Report Rising to the Challenge www.conocophillips.com Contents Financial Highlights 1 Our purpose is to use our pioneering spirit to responsibly deliver energy to the world. Worldwide Operations 2 Letter to Shareholders 4 Who We Are Operating Review 8 ConocoPhillips is an international, integrated energy Corporate Review 24 company. It is the third-largest integrated energy company in the United States, based on market Financial Review 30 capitalization, and oil and gas proved reserves and Directors and Officers 110 production; and the largest refiner in the United Glossary 112 States. Worldwide, of nongovernment-controlled companies, ConocoPhillips has the eighth-largest total of proved reserves and is the fifth-largest refiner. ConocoPhillips is known worldwide for its technological expertise in exploration and production, reservoir management and exploitation, 3-D seismic technology, high-grade petroleum coke upgrading, and sulfur removal. Headquartered in Houston, Texas, ConocoPhillips operates in more than 40 countries. The company has approximately 35,800 employees worldwide and assets of $93 billion. ConocoPhillips’stock is listed on the New York Stock Exchange under the symbol “COP.” Our Theme: Rising to the Challenge Our Businesses The company has four core activities worldwide: • Petroleum exploration and production. • Petroleum refining, marketing, supply and transportation. • Natural gas gathering, processing and marketing, including a 30.3 percent interest in Duke Energy Each day, employees in ConocoPhillips’ business units around the world make tangible contributions, which Field Services, LLC. elevate the company to new levels of performance. They rise to the challenge of increasing shareholder • Chemicals and plastics production and distribution value by keeping the company’s assets and systems through a 50 percent interest in Chevron Phillips operational, safe, environmentally sound, on the Chemical Company LLC.
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