AI @ ConocoPhillips

ConocoPhillips continues to realize tangible benefits from AI investments enhancing operational safety and decision-making, with industry commentary noting generally slow ROI across oil and gas but highlighting ConocoPhillips' successes.

• OPX Ai: Beyond the Hype: Making a Dent with AI in Oil & Gas
• Reuters: US software stocks stabilize after bruising selloff on AI disruption fears

Continued progressive integration of advanced AI and machine learning in exploration, drilling, and operational optimization; highlighted in industry reports and stock analysis, with CEO Ryan Lance active in equity markets amid this technological transformation.

• Rudyl.ai: AI in Energy Companies
• Yahoo Finance: Morgan Stanley Reduces PT on ConocoPhillips Stock
• Longbridge: ConocoPhillips Chairman and CEO Ryan Lance Reports Share Disposal
• ASUG: Delivering SAP S/4HANA Clean Core Transformation at Scale for ConocoPhillips

AI-powered transformation accelerated with large language models automating vital data extraction; leadership Pragati Mathur emphasized moving from AI potential to performance; company underwent major layoffs (~25%) leveraging AI for operational cost savings and efficiency gains.

• OnePetro Conference: Efficient Field Development Decisions Driven by AI
• CIO.com: AI-powered transformation at ConocoPhillips is fueling the future
• KHOU: ConocoPhillips layoffs spark big debate about AI and Houston energy jobs
• Industrial Info: ConocoPhillips Staff Cuts Follow Industry Trend in Difficult Market

ConocoPhillips reported mixed outlook on AI-driven natural gas demand with focus on LNG strategy; workforce reductions of up to 3,200 jobs (~25%), with leadership highlighting AI investments as key for cost savings, operational efficiency, and future competitiveness.

• Monexa AI: ConocoPhillips Market Outlook: AI Demand, Inflation & Operating Environment
• ConocoPhillips: 2024 Annual Report
• OPX Ai: Importance of High-Quality Data for Plunger Lift Optimization
• AInvest: ConocoPhillips: Mixed Outlook on AI-Powered Gas Demand
• Monexa AI: ConocoPhillips: Market Strategy and AI Energy Demand
• OGLawyers: The Intersection of AI and the Oil & Gas Industry

ConocoPhillips recognized as one of the AI growth stocks by UBS investors; digital transformation initiatives included SAP S/4HANA clean core foundation to enhance quality data for AI and machine learning applications.

• Insider Monkey: ConocoPhillips (COP) Featured Among UBS AI Growth Stocks
• ASUG: Delivering SAP S/4HANA Clean Core Transformation at Scale for ConocoPhillips

Launched AI-powered workflows integrating geological, completion, and performance data for Permian Basin assets, enabling faster, more economical decision-making; partnered with Raptor Data for plug and abandonment solutions leveraging AI.

• Yahoo Finance: ConocoPhillips Taps Raptor Data for Plug & Abandonment Solutions
• Society of Petroleum Engineers (SPE): ConocoPhillips Optimizes Decision Making With AI-powered Workflows
• Oil Gas Leads: AI and ML Workflows Enhance ConocoPhillips' Decision Making for Permian Basin Assets

ConocoPhillips secured additional AI-related patents related to resource development systems and methods; the company publicly addressed AI and electrification as key trends in its 2024 stockholder meeting.

• Offshore Technology: ConocoPhillips in artificial intelligence: Theme innovation strategy update
• ConocoPhillips: 2024 Annual Meeting of Stockholders Answers to Questions

ConocoPhillips presented advancements in predictive modeling and real-time reservoir data analysis, applied for AI patents including methods using shut-in pressures in reservoir management, highlighting continued innovation in AI research.

• SPEGCS: Transforming Reservoir Challenges into Opportunities with AI
• PitchGrade: ConocoPhillips AI Use Cases 2024
• Offshore Technology: ConocoPhillips in artificial intelligence: Theme innovation strategy

Successful pilots led ConocoPhillips to adopt portfolio-wide digital twin technology covering artificial lift, well intervention, and oilfield chemistry using AI, machine learning, and data mining to enhance mature fields and production.

• cio.com: ConocoPhillips goes global with digital twins
• SPE: ConocoPhillips Goes Global With Digital Twins - JPT - SPE

ConocoPhillips signed agreements with Wyld Networks to enhance AI networking capabilities and utilized machine learning models to optimize Lower 48 drilling operations, resulting in efficiency gains including drilling crews advancing over 60 feet more per day.

• directorstalk.net: Wyld Networks signs agreement with ConocoPhillips
• ConocoPhillips: How ConocoPhillips is leveraging data to optimize its Lower 48 operations

Enterprise-wide deployment of Schlumberger's cloud-based DELFI cognitive exploration and production environment at ConocoPhillips enabled advanced digital transformation and cognitive E&P capabilities.

• Schlumberger: Schlumberger Announces Deployment of DELFI Cognitive E&P for ConocoPhillips

ConocoPhillips launched a comprehensive seismic processing and machine learning platform leveraging Apache Spark to handle data and interprocess communications for seismic HPC workloads.

• The Next Platform: ConocoPhillips Sparks Tooling For Seismic HPC, Cloud, AI