Formed by the merger of Conoco and Phillips Petroleum, ConocoPhillips is the No. 3 integrated oil and gas company in the United States, behind ExxonMobil and Chevron. The company explores for oil and gas in more than 30 countries and has estimated proved reserves of 11.5 billion barrels of oil equivalent, excluding its Canadian oil sands assets.
Under CEO Jim Mulva, Conoco is pushing ahead with its strategy of expanding production in new, somewhat riskier areas. With large investments in Venezuela, Asia, and the Middle East, a pipeline of projects is set to come onstream over the next few years that will shift the geographic mix and help boost production.