Summer 2026
Posted on 11/1/2025
Upstream oil and gas exploration; LNG
No salary listed
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Bartlesville, OK, USA
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ConocoPhillips focuses on upstream energy activities, exploring, extracting, and selling crude oil, natural gas, and natural gas liquids to buyers around the world. Its products come from exploration and production efforts and revenue comes from selling resources to refineries and other end-users, with LNG development aimed at making natural gas more efficient to transport and use. The company operates globally in regions like the United States, Canada, Norway, and Australia, and partners with others to develop low-carbon LNG solutions. Its goal is to expand its global upstream footprint while leading in LNG technology and lower-emission energy solutions for customers and governments.
Company Size
10,001+
Company Stage
IPO
Headquarters
Houston, Texas
Founded
2002
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ConocoPhillips achieves first oil at 12,000-bpd Coyote 3SX project in Alaska. August 19, 2026 (WO) - ConocoPhillips Alaska achieved first oil Aug. 7 from its approximately $800 million Coyote 3SX development in Alaska's Kuparuk River Unit (KRU), bringing the project online ahead of schedule and under budget. The development, located on state land on Alaska's North Slope, is expected to reach peak gross oil production of approximately 12,000 bpd. ConocoPhillips approved funding for the project in October 2025, with construction beginning in early 2026. Coyote 3SX leverages existing infrastructure within the Kuparuk River Unit to bring additional production online. The project also required additional pipeline infrastructure to accommodate increasing Coyote production volumes expected during 2026 and beyond. "Coyote 3SX demonstrates our commitment to maximizing the value of our legacy assets while continuing to deliver safe, reliable domestic production," said Erec Isaacson, president of ConocoPhillips Alaska. "The additional pipeline required for the project will support increased production from Coyote as volumes rise in 2026 and beyond." Construction activity peaked in April with approximately 365 workers on the project. ConocoPhillips said it invests approximately $1 billion annually to sustain and expand production from its legacy Alaska assets. The company expects Coyote's additional volumes to support throughput through the Trans-Alaska Pipeline System (TAPS) as production ramps up.
Aker BP to take stakes in Losgann/Froskelår and Slagugle discoveries. Aker BP will buy Apache's Losgann/Froskelår interest and acquire operatorship and a majority holding in the Slagugle area. Aker BP has agreed to acquire stakes in the Losgann/Froskelår and Slagugle discoveries, aiming to consolidate its presence near established infrastructure on the Norwegian Continental Shelf. In two separate transactions, Aker BP has moved to purchase Apache's interest in the Losgann/Froskelår discovery in the North Sea and obtain both operatorship and a majority holding in the Slagugle area in the Norwegian Sea. Aker BP will take Apache's operated stake in the UK portion of the Losgann discovery, which is adjacent to the Froskelår discovery on the Norwegian side. Losgann and Froskelår together form a cross-border oil and gas accumulation located along the UK-Norway median line. Neither part of the discovery has yet been developed. Through the acquisition of Apache's interest, Aker BP aims to take over operatorship on both sides of the boundary, subject to required consents. Aker BP CEO Karl Johnny Hersvik said: "Losgann and Froskelår are two names for the same discovery. By bringing ownership, operatorship and development responsibility together, we improve the prospects of moving the project towards development and creating value from resources located close to existing infrastructure." The company views the Losgann/Froskelår find as a potential tie-back project to the Alvheim area. This latest move aligns with Aker BP's goal of maximising value through infrastructure-led development and expansion around its established operating hubs. In the other transaction, Aker BP has signed an agreement with ConocoPhillips Skandinavia to acquire a 51% operated working interest in the Slagugle area. Upon completion, ConocoPhillips will continue as a non-operator with a 29% share and INPEX Idemitsu Norge will hold 20%. The Slagugle area includes the main oil discovery and comprises licences PL891, PL891B and PL891C around 20km north of the Heidrun field. Three wells drilled in the Slagugle area since 2020 have proven approximately 50 million barrels gross of recoverable oil in the main structure. A subsea development concept has been partially advanced and further exploration is planned to increase potential resources. The completion of both transactions will require approval from the relevant authorities and fulfilment of standard conditions. Aker BP and Equinor recently concluded drilling operations at the Svarteknippa site in the Norwegian North Sea, without discovering any hydrocarbons. Give your business an edge with its leading industry insights.
DNR releases new North Slope O&G Activity Map. Kay Cashman, Publisher | Aug 16, 2026 On Aug. 6, the Department of Natural Resources' Division of Oil and Gas released its June 2026 North Slope Activity Map, also referred to as the North Slope Oil and Gas Activity Map. The map includes wellhead locations for oil and gas exploration wells completed and separated by years completed - 2026, 2025 and 2024. Highways, current unit boundaries, the Trans Alaska Pipeline System and the Alaska Seaward Boundary are noted on the map. Map highlights illustrate the following and more: - Oil Search Alaska, a Santos company, completed the Quokka-1 appraisal well and completed it by Q2 2026. Oil Search is planning a 3D seismic shoot targeting the Nanushuk reservoir during the 2026-2027 winter season. - Oil Search Alaska and Repsol E&P USA received approval for 2-year lease extensions for 44 leases encompassing more than 60,000 acres. - Oil Search, a Santos company, plans to drill the Stirrup-2 appraisal well in the Horseshoe Unit by 2027 Q2. - APA Corp. purchased Savant Alaska LLC on June 10 in a deal that includes stakes in the Badami and Grey Owl units and the Nutaaq Pipeline. APA assumed operatorship of its joint venture with Lagniappe and Santos and plans a two-well 2026-27 winter drilling program to test a western play and advance Sockeye complex evaluation. - STAK Energy Corp. applied for a 50-year lease to build a gas-powered modular data center near the Dalton Highway including natural gas power generation and fiber-optic infrastructure. - ConocoPhillips Alaska completed four Kuparuk unit wells since January 2026 and plans to drill 10 more wells in the next plan of development year. ConocoPhillips requested authorization to expand several pads to provide additional space for staging and storage of drill rigs and associated equipment. - ConocoPhillips Alaska drilling up to five new wells in the Narwhal participating area (Nanushuk). ConocoPhillips submitted a permit application to the U.S. Army Corps of Engineers for development of their proposed CD8 pad in the 5th Expansion Area. - Hilcorp Alaska drilled seven new wells in the Nikaitchuq unit targeting the Schrader Bluff formation. - Hilcorp Alaska received approval for its third Schrader Bluff PA expansion. The 2026 Milne Point plan of development includes 13 new wells - 11 in Schrader Bluff. - 88 Energy plans to drill the Franklin Bluffs-1H horizontal production test well to further evaluate Project Phoenix reservoir intervals in 2027 Q1. - Hilcorp Alaska commenced new well PTU-19 tie-in and flowback cleanup operations on June 18 in the Point Thomson Unit. This well is expected to increase Point Thomson production to near 10,000 barrels per day. - ConocoPhillips Alaska continues development of the Torok and Coyote participating areas at Kuparuk from the 3S and 3T pads. - Hilcorp Alaska plans to lay down gravel for O pad, a potential new drill site in the PBU Western Satellites PA in 2026. Final investment decision for O pad is also targeted for 2026. - Harvest Alaska LNG began plant operations on Oct. 9, 2025, producing LNG for delivery by road tanker to Fairbanks-based Interior Gas Utility. - Lagniappe Alaska plans to drill appraisal wells and wildcats around Sockeye-2 in early 2027. - Great Bear Pantheon completed fracture stimulation operations at the Dubhe-1 exploration well horizontally through 5,200 feet of SMD-B target reservoir. Flow testing is paused and scheduled to resume in Spring 2026. - Hilcorp Alaska planning to drill a gas and condensate production well at a new Point Thomson drill site in 2026. This well is expected to increase Point Thomson production to near 10,000 barrels per day. Kay Cashman, Publisher. As one of the founders of Petroleum News and its predecessor Petroleum News Alaska, I have worked in all areas of the newspaper and its magazines, including reporting, editing, marketing and sales. Today, my title is publisher and founder, but I spend more time doing what I most love - chasing news stories, especially those involving oil exploration, which is once again booming in Alaska. Email: [email protected] Phone: 907-782-6110
Willis Investment Counsel has $28.51 million position in ConocoPhillips $COP. August 15, 2026 Key points. * Willis Investment Counsel increased its ConocoPhillips stake by 6.5% in the second quarter, holding 274,201 shares valued at approximately $28.51 million. Institutional investors collectively own 82.36% of COP. * ConocoPhillips exceeded quarterly expectations, reporting $3.24 in EPS versus the $2.90 consensus and $19.52 billion in revenue, up 32.4% year over year. * The company declared a quarterly dividend of $0.84 per share, or $3.36 annualized, representing a 2.7% yield; analysts maintain a "Moderate Buy" consensus with an average price target of $137.68. * Five stocks we like better than ConocoPhillips. Willis Investment Counsel lifted its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 6.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 274,201 shares of the energy producer's stock after acquiring an additional 16,768 shares during the period. ConocoPhillips makes up about 1.4% of Willis Investment Counsel's portfolio, making the stock its 27th largest holding. Willis Investment Counsel's holdings in ConocoPhillips were worth $28,506,000 at the end of the most recent reporting period. Several other large investors have also made changes to their positions in COP. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in ConocoPhillips in the fourth quarter valued at approximately $25,000. Strive Asset Management LLC bought a new stake in ConocoPhillips during the third quarter worth $28,000. Frazier Financial Advisors LLC lifted its stake in ConocoPhillips by 151.0% during the first quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer's stock worth $32,000 after purchasing an additional 145 shares during the last quarter. Allied Private Wealth LLC acquired a new stake in shares of ConocoPhillips in the 2nd quarter valued at $32,000. Finally, BNP Paribas acquired a new stake in shares of ConocoPhillips in the 2nd quarter valued at $33,000. Institutional investors and hedge funds own 82.36% of the company's stock. ConocoPhillips stock performance. NYSE COP opened at $126.67 on Friday. The firm's fifty day moving average price is $113.88 and its two-hundred day moving average price is $116.60. The stock has a market cap of $152.17 billion, a PE ratio of 16.75, a PEG ratio of 1.38 and a beta of 0.11. ConocoPhillips has a fifty-two week low of $85.57 and a fifty-two week high of $135.87. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.39 and a current ratio of 1.54. ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.90 by $0.34. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The company had revenue of $19.52 billion during the quarter, compared to the consensus estimate of $18.79 billion. During the same period in the prior year, the business earned $1.42 earnings per share. The company's revenue for the quarter was up 32.4% compared to the same quarter last year. On average, equities analysts expect that ConocoPhillips will post 10.05 EPS for the current fiscal year. ConocoPhillips dividend announcement. The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 17th will be given a dividend of $0.84 per share. The ex-dividend date is Monday, August 17th. This represents a $3.36 dividend on an annualized basis and a yield of 2.7%. ConocoPhillips's payout ratio is currently 44.44%. Analyst ratings changes. A number of equities analysts have recently commented on COP shares. Morgan Stanley reissued an "overweight" rating and set a $147.00 price target on shares of ConocoPhillips in a report on Friday, August 7th. Truist Financial raised their price objective on ConocoPhillips from $115.00 to $130.00 and gave the company a "hold" rating in a research note on Monday, August 10th. Capital One Financial reduced their price objective on ConocoPhillips from $156.00 to $154.00 and set an "equal weight" rating on the stock in a research note on Monday, May 18th. Royal Bank Of Canada set a $130.00 target price on ConocoPhillips in a research report on Monday, June 22nd. Finally, Argus boosted their target price on ConocoPhillips from $128.00 to $136.00 and gave the stock a "buy" rating in a research note on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $137.68. Discover more Earnings screener tool Stock market holidays ConocoPhillips news roundup. Here are the key news stories impacting ConocoPhillips this week: * Positive Sentiment: Traders purchased 68,293 call options on Friday, roughly 339% above the average daily call volume of 15,545. The unusually high call activity signals increased speculative and potentially bullish interest in COP. * Positive Sentiment: ConocoPhillips reported record Permian production and generated approximately $4.2 billion in second-quarter free cash flow. Management discussed using its financial strength to support expansion in Iraq and liquefied natural gas, which could improve future production and cash generation. ConocoPhillips Q2 2026 Earnings Call Transcript * Positive Sentiment: The Coyote 3SX project on Alaska's North Slope has achieved first oil. The start-up adds production from a project that received approximately $800 million in funding and reinforces COP's growth outlook. ConocoPhillips Alaska's Coyote 3SX Project Achieves First Oil * Positive Sentiment: Rising oil prices amid tensions around the Strait of Hormuz are providing a favorable commodity-price backdrop for COP, whose earnings and cash flow remain sensitive to oil prices. Why ConocoPhillips Is in Focus as Oil Climbs on Hormuz Tensions * Positive Sentiment: Susquehanna forecast strong price appreciation for COP, adding to the positive analyst outlook. Susquehanna Forecasts Strong Price Appreciation for ConocoPhillips * Neutral Sentiment: Brokerages maintain an average "Moderate Buy" recommendation, indicating constructive but not overwhelmingly bullish institutional sentiment. ConocoPhillips Given Average Recommendation of Moderate Buy * Neutral Sentiment: A broader LNG investment wave involving Qatar, the United States and Argentina may support the long-term market for gas producers, although the article does not announce a new COP project. Five LNG Megaprojects Poised to Power the Next Gas Boom About ConocoPhillips. ConocoPhillips NYSE: COP is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets. The company's activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. Continue following MarketBeat Before you consider ConocoPhillips, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and ConocoPhillips wasn't on the list. While ConocoPhillips currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys. 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ConocoPhillips starts production at new Alaska oil project. Rigzone Staff Friday, August 14, 2026 | 8:16 AM EST 'ConocoPhillips Alaska invests approximately $1 billion each year to sustain and grow its Alaska legacy assets through projects such as Coyote'. ConocoPhillips has put onstream the Coyote 3SX project, expected to add up to 12,000 barrels per day gross to its production on Alaska's North Slope. "ConocoPhillips Alaska invests approximately $1 billion each year to sustain and grow its Alaska legacy assets through projects such as Coyote", the Alaskan arm of the Houston, Texas-based oil major said in a press release. Coyote 3SX was built only this year and completed ahead of schedule and under budget at around $800 million, ConocoPhillips Alaska said. Production will be delivered to the Trans-Alaska Pipeline System, partly owned by ConocoPhillips. The 800-mile pipeline runs from Prudhoe Bay to the port of Valdez. "The additional pipeline required for the project will support increased production from Coyote as volumes rise in 2026 and beyond", said ConocoPhillips Alaska president Erec Isaacson. Coyote 3SX is part of the Kuparuk River Unit (KRU), a group of fields on the North Slope. In 2024 ConocoPhillips Alaska started production at what it said is the first drillsite developed in the Greater Kuparuk Area in nearly a decade, the 3T drillsite of the Nuna project. Greater Kuparuk encompasses KRU and the Kuparuk satellite fields. "The Nuna module was the first production module like this fabricated in-state in more than two decades and demonstrates ConocoPhillips' commitment to Alaska", Isaacson said in an online statement December 19, 2024. Meanwhile the Willow project, on the North Slope's National Petroleum Reserve, is targeted to achieve production 2029. It will have a capacity of 180,000 barrels per day. To contact the author, email [email protected] What do you think? Hunter McKenzie'd love to hear from you, join the conversation on the Rigzone Energy Network. The Rigzone Energy Network is a new social experience created for you and all energy professionals to Speak Up about its industry, share knowledge, connect with peers and industry insiders and engage in a professional community that will empower your career in energy.