What is ConocoPhillips's lower 48 — significant segment expenses?

ConocoPhillips (COP) reported lower 48 — significant segment expenses of $3.70B in Q1 2026.

How has ConocoPhillips's lower 48 — significant segment expenses changed year-over-year?

ConocoPhillips's lower 48 — significant segment expenses decreased by 3.7% year-over-year, from $3.84B to $3.70B.

What is the long-term trend for ConocoPhillips's lower 48 — significant segment expenses?

Over 3 years (2022 to 2025), ConocoPhillips's lower 48 — significant segment expenses has grown at a 9.9% compound annual growth rate (CAGR), from $11.58B to $15.36B.

What does lower 48 — significant segment expenses mean?

The primary day-to-day operating costs incurred to run the segment's business.

Business Segments · Significant Segment Expenses

Lower 48 — Significant Segment Expenses

ConocoPhillips Lower 48 — Significant Segment Expenses decreased by 2.6% to $3.70B in Q1 2026 compared to the prior quarter. Year-over-year, this metric declined by 3.7%, from $3.84B to $3.70B. Over 3 years (FY 2022 to FY 2025), Lower 48 — Significant Segment Expenses shows an upward trend with a 9.9% CAGR. This is a positive signal — lower values indicate better performance for this metric.

Analysis

StatementSegment

CategoryEfficiency

SignalLower is better

VolatilityModerate

First reportedQ1 2022

Last reportedQ1 2026Apr 30, 2026

Rolls up toSignificant Segment Expenses

How to read this metric

An increase suggests rising operational costs or inflationary pressures, while a decrease indicates improved cost control or operational efficiencies.

Detailed definition

Aggregated major operating costs directly attributable to the segment, excluding depreciation and specific overheads. Th...

Peer comparison

Comparable to 'Lease Operating Expenses (LOE)' or 'Production Costs' at peer energy companies.

Metric ID: cop_segment_lower_48_significant_segment_expenses

Historical Data

17 periods

	Q1 '22	Q2 '22	Q3 '22	Q4 '22	Q1 '23	Q2 '23	Q3 '23	Q4 '23	Q1 '24	Q2 '24	Q3 '24	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26
Value	$2.90B	$2.90B	$2.90B	$2.90B	$2.92B	$2.92B	$2.92B	$2.92B	$2.90B	$3.08B	$3.17B	$3.51B	$3.84B	$3.86B	$3.86B	$3.80B	$3.70B
QoQ Change	—	+0.0%	+0.0%	+0.0%	+0.9%	+0.0%	+0.0%	+0.0%	-0.7%	+6.3%	+2.8%	+10.7%	+9.6%	+0.4%	-0.0%	-1.6%	-2.6%
YoY Change	—	—	—	—	+0.9%	+0.9%	+0.9%	+0.9%	-0.7%	+5.5%	+8.4%	+20.1%	+32.5%	+25.2%	+21.8%	+8.3%	-3.7%

Range$2.90B – $3.86B

CAGR+6.3%

Avg YoY Growth+9.3%

Median YoY Growth+5.5%

Current Streak3 quarters decline

Similar Metrics at Other Companies

Energy TransferET View metric

Occidental PetroleumOXY View metric

CopartCPRT View metric

OvintivOVV View metric

Plains All American Pipeline, L.P.PAA View metric

NRG EnergyNRG View metric

Frequently Asked Questions

What is ConocoPhillips's lower 48 — significant segment expenses?: ConocoPhillips (COP) reported lower 48 — significant segment expenses of $3.70B in Q1 2026.
How has ConocoPhillips's lower 48 — significant segment expenses changed year-over-year?: ConocoPhillips's lower 48 — significant segment expenses decreased by 3.7% year-over-year, from $3.84B to $3.70B.
What is the long-term trend for ConocoPhillips's lower 48 — significant segment expenses?: Over 3 years (2022 to 2025), ConocoPhillips's lower 48 — significant segment expenses has grown at a 9.9% compound annual growth rate (CAGR), from $11.58B to $15.36B.
What does lower 48 — significant segment expenses mean?: The primary day-to-day operating costs incurred to run the segment's business.