What is ConocoPhillips's lower 48 — operating costs and expenses?

ConocoPhillips (COP) reported lower 48 — operating costs and expenses of $1.25B in Q1 2026.

What does lower 48 — operating costs and expenses mean?

The total direct costs required to produce and transport oil and gas within the Lower 48 segment.

Business Segments · Operating Costs and Expenses

Lower 48 — Operating Costs and Expenses

ConocoPhillips Lower 48 — Operating Costs and Expenses decreased by 16.0% to $1.25B in Q1 2026 compared to the prior quarter. This is a positive signal — lower values indicate better performance for this metric.

Analysis

StatementSegment

CategoryEfficiency

SignalLower is better

VolatilityModerate

First reportedQ1 2025

Last reportedQ1 2026

Rolls up toShipping and Handling Costs

How to read this metric

A decrease relative to revenue suggests improved operational efficiency and cost control, while an increase may signal rising service costs or operational inefficiencies.

Detailed definition

Encompasses the aggregate costs incurred to operate and maintain production assets in the Lower 48 region, including pro...

Peer comparison

Comparable to 'Lease Operating Expenses' (LOE) or 'Production Costs' reported by peers.

Metric ID: cop_segment_lower_48_operating_costs_and_expenses

Historical Data

2 periods

	Q1 '25	Q1 '26
Value	$1.49B	$1.25B
QoQ Change	—	-16.0%
YoY Change	—	-16.0%

Range$1.25B – $1.49B

Avg YoY Growth-16.0%

Median YoY Growth-16.0%

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Frequently Asked Questions

What is ConocoPhillips's lower 48 — operating costs and expenses?: ConocoPhillips (COP) reported lower 48 — operating costs and expenses of $1.25B in Q1 2026.
What does lower 48 — operating costs and expenses mean?: The total direct costs required to produce and transport oil and gas within the Lower 48 segment.