Discontinued — last reported Q4 '25
Non-Current Assets
Capitalized Exploratory Well Costs
ConocoPhillips Capitalized Exploratory Well Costs decreased by 36.4% to $133.00M in Q4 2025 compared to the prior quarter. Year-over-year, this metric declined by 18.4%, from $163.00M to $133.00M. Over 5 years (FY 2020 to FY 2025), Capitalized Exploratory Well Costs shows a downward trend with a -27.9% CAGR.
Analysis
StatementBalance Sheet Statement
SectionNon-Current Assets
CategoryGrowth
SignalContext dependent
VolatilityVolatile
First reportedQ4 2014
Last reportedQ4 2025Feb 17, 2026
How to read this metric
A high balance indicates active exploration, while a sudden decrease may signal either successful reserve booking or the write-off of unsuccessful wells.
Detailed definition
These are the costs incurred to drill exploratory wells that are currently capitalized on the balance sheet while the co...
Peer comparison
Specific to the oil and gas industry; peers report this to show the pipeline of potential future production assets.
Metric ID:
suggested_oil_gas_exploratory_well_costsHistorical Data
12 periods
| Q4 '21 | Q4 '22 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $660.00M | $527.00M | $459.00M | $184.00M | $163.00M | $164.00M | $196.00M | $163.00M | $161.00M | $209.00M | $209.00M | $133.00M |
| QoQ Change | — | -20.2% | -12.9% | -59.9% | -11.4% | +0.6% | +19.5% | -16.8% | -1.2% | +29.8% | +0.0% | -36.4% |
| YoY Change | — | -20.2% | — | -65.1% | — | — | -57.3% | -11.4% | -1.2% | +27.4% | +6.6% | -18.4% |
Range$133.00M – $660.00M
CAGR-44.2%
Avg YoY Growth-17.4%
Median YoY Growth-14.9%
Business Segments
| Segment | Q4 '25 |
|---|---|
| Asia Pacific | $36.00M |
| Total | $133.00M |
Capitalized Exploratory Well Costs at Other Companies
Frequently Asked Questions
- What is ConocoPhillips's capitalized exploratory well costs?
- ConocoPhillips (COP) reported capitalized exploratory well costs of $133.00M in Q4 2025.
- How has ConocoPhillips's capitalized exploratory well costs changed year-over-year?
- ConocoPhillips's capitalized exploratory well costs decreased by 18.4% year-over-year, from $163.00M to $133.00M.
- What is the long-term trend for ConocoPhillips's capitalized exploratory well costs?
- Over 5 years (2020 to 2025), ConocoPhillips's capitalized exploratory well costs has grown at a -27.9% compound annual growth rate (CAGR), from $682.00M to $133.00M.
- What does capitalized exploratory well costs mean?
- The money spent on drilling exploratory wells that are still being evaluated for oil or gas success.