Conocophillips (COP) Operating Expenses (2009 - 2026)
Conocophillips' Operating Expenses was $2.43 billion in Q2 2026, down 5.5% from $2.57 billion a year earlier but up 6.8% from the prior quarter.
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Analysis
Conocophillips (COP) Operating Expenses (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, Conocophillips' Operating Expenses was $9.96 billion through Jun 30, 2026, up 3.2% year-over-year; for FY2025, it came in at $10.33 billion, up 18.1% from FY2024.
- Operating Expenses has now increased for five consecutive years, with a five-year compound annual growth rate of 18.9% (FY2020 to FY2025).
- In earlier years, Operating Expenses was $8.75 billion in FY2024 (+13.8%), $7.69 billion in FY2023 (+9.8%), $7.01 billion in FY2022 (+23.0%) and $5.69 billion in FY2021 (+31.1%).
- Quarterly Operating Expenses has moved between $1.39 billion (Q3 2021) and $2.63 billion (Q3 2025) over five years.
- Compared with a year earlier, Operating Expenses was higher in six of the last eight quarters, with growth averaging 10.7%.
- The best year-over-year quarter for Operating Expenses over five years was Q3 2021 (growth of 44.2%); the worst was Q1 2026 (a decline of 9.2%).
- Per Business Quant data, COP's Operating Expenses in the three quarters before Q2 2026 was $2.28 billion (Q1 2026), $2.62 billion (Q4 2025) and $2.63 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Shell | 541.34 Bn | 451.89 Bn | 30.13 Bn | 3.19 Bn |
| 2 | Chevron | 403.85 Bn | 381.64 Bn | 33.45 Bn | 53.37 Bn |
| 3 | TotalEnergies SE | 193.34 Bn | 76.47 Bn | - | 46.44 Bn |
| 4 | Eni Spa | 172.00 Bn | 121.52 Bn | - | - |
| 5 | Conocophillips | 150.68 Bn | 123.39 Bn | 12.81 Bn | 2.43 Bn |
| 6 | Equinor Asa | 103.39 Bn | 49.45 Bn | - | -22.18 Bn |
| 7 | Phillips 66 | 100.64 Bn | 89.62 Bn | 8.38 Bn | 47.07 Bn |
| 8 | Canadian Natural Resources | 98.19 Bn | 95.14 Bn | - | 114.95 Mn |
| 9 | Suncor Energy | 80.57 Bn | 66.37 Bn | - | 17.00 Mn |
| 10 | Eog Resources | 73.27 Bn | 57.59 Bn | - | 5.09 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 2.43 Bn |
| Mar 31, 2026 | 2.28 Bn |
| Dec 31, 2025 | 2.62 Bn |
| Sep 30, 2025 | 2.63 Bn |
| Jun 30, 2025 | 2.57 Bn |
| Mar 31, 2025 | 2.51 Bn |
| Dec 31, 2024 | 2.31 Bn |
| Sep 30, 2024 | 2.26 Bn |
| Jun 30, 2024 | 2.16 Bn |
| Mar 31, 2024 | 2.02 Bn |
| Dec 31, 2023 | 2.03 Bn |
| Sep 30, 2023 | 2.00 Bn |
| Jun 30, 2023 | 1.89 Bn |
| Mar 31, 2023 | 1.78 Bn |
| Dec 31, 2022 | 1.89 Bn |
| Sep 30, 2022 | 1.80 Bn |
| Jun 30, 2022 | 1.74 Bn |
| Mar 31, 2022 | 1.58 Bn |
| Dec 31, 2021 | 1.54 Bn |
| Sep 30, 2021 | 1.39 Bn |
API Access
Conocophillips Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=COP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "COP", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=COP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();