ConocoPhillips (NYSE:COP) is moving forward with one of its largest workforce reductions in recent memory, announcing plans to cut 20%–25% of its global staff by year-end 2025. With approximately 13,000 employees worldwide, the move is expected to impact 2,600 to 3,250 positions, according to multiple reports.
ConocoPhillips (NYSE: COP) released its Q2 2025 results, highlighting strategic execution, strong cash generation, and accelerating drilling activity across its U.S. shale portfolio following the Marathon Oil acquisition.
ConocoPhillips, one of the top U.S. oil and gas producers, is in advanced talks to sell approximately 300,000 net acres in Oklahoma’s Anadarko Basin to privately held Stone Ridge Energy, according to Reuters. The assets produce around 39,000 boepd—roughly half of which is natural gas—and the deal is reportedly valued at $1.3 billion.
ConocoPhillips has brought its Zia Hills Central Facility 2 (CF2) online in the Delaware Basin.
ConocoPhillips, one of the world’s largest independent E&P companies, is undergoing a significant transformation in 2025. From major acquisitions to innovative drilling practices and new energy demand trends, the company is actively repositioning itself for long-term resilience.
The rapid expansion of artificial intelligence, cloud computing, and digital infrastructure is fundamentally reshaping energy demand in the United States. Data centers — once a niche segment of electricity consumption — are now emerging as one of the largest drivers of new power needs nationwide.
ConocoPhillips has initiated a significant restructuring initiative, internally termed “Competitive Edge,” with strategic guidance from Boston Consulting Group (BCG). This move follows the company’s $23 billion acquisition of Marathon Oil and aims to streamline operations and reduce costs amid industry challenges, including oil prices hovering around $63 per barrel.
ConocoPhillips is reportedly preparing to sell its oil and gas assets in Oklahoma’s Anadarko Basin, aiming to raise over $1 billion as part of a broader divestment strategy. The assets, acquired through the $22.5 billion Marathon Oil acquisition in late 2024, span approximately 300,000 net acres and produce around 39,000 barrels of oil equivalent per day—about half of which is natural gas.
ConocoPhillips provided significant insights into its Permian Basin operations during its Q4 2024 earnings call, highlighting efficiency improvements, capital discipline, non-core asset sales, and potential growth opportunities tied to increasing U.S. power demand.
The Marathon Oil acquisition is more than just a bolt-on asset purchase—it is a transformational deal for ConocoPhillips’ Lower 48 operations. Marathon Oil’s assets complement ConocoPhillips’ existing holdings in key U.S. shale basins
