repositioning: the future takes shape

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  • CONOCOPHILLIPS

    Fourth Quarter 2011

    Repositioning: The future takes shapeAviation achieves higher altitudes of serviceConocoPhillips honors the military service of employees

  • America needs affordable energy.

    America needs cleaner energy.

    Whos right? They both are. Thats why, at ConocoPhillips, were helping to power Americas economy by safely accessing one of Americas most abun-dant energy resources: natural gas. Which creates jobs. Has less emissions. And answers both their concerns.

    To find out why natural gas is the right answer, visit PowerInCooperation.com CoCoCoCoCoCoCoCoCoCoCoCooC nononononononononononnonnonooocococococococococococcococoPhPhPhPhPhhPhPhhililiililiiililllilili lililililililipspspspspspspspspspspspspssss C C C C C CC C C C CCCComomomomomomomoomomo papapapapapapapapapapapaapapapapaanynynynynynynynynnnyyyyy. . .. 2020202000202020220202 11111111111111111111111 . .. . AlAlAlAlAAlAAAAAAA l l l ll l ririririririighghghghghghghghhtststststststststststst r r r r resesesesesesee ererererereeeeeee veveveveveeeeveveeveed.d.d.d.dd.ddddd

  • Ryan Lance, future Chairman and CEO of the new ConocoPhillipsWe are entering a new era for ConocoPhillips, and I am excited to be the

    designated chairman and CEO at such an important time. I realize that the repositioning effort is often tedious with many moving parts and pieces and appreciate the patience and focus employees have demonstrated as all the vital ele-ments gradually come together. It will take our combined efforts to complete this transition as smoothly as possible, and I couldnt be more confident in our success.

    As I think about our future, opportunities to pursue new exploration plays, grow production of nonconventional oil and gas, and find better ways to do our jobs together go through my mind. Our possibilities are amazing. As a pure-play

    company, we will be more agile able to act faster and with greater focus to capture these opportuni-ties. I look forward to working with both the current and future skilled and talented ConocoPhillips employees, as we embark on this journey.

    Throughout my career, I have experienced a great deal of change and have learned that change drives progress and achievement. Our future is bright, and together, we can help ConocoPhillips become not only the largest player in the independent exploration and production sector, but the acknowledged leader in efficiency and competitiveness. I believe that the best is yet to come for our company.

    Greg Garland, future Chairman and CEO of Phillips 66This is an exciting time in our history, and it was with great enthusiasm that

    I accepted the role as future chairman and CEO of Phillips 66. Before returning to ConocoPhillips in 2010, I had the pleasure of being the CEO of Chevron Phillips Chemical, our chemicals co-venture that contributes substantially to our com-panys profitability by extending our presence in the energy value chain. But far from being a newcomer, I began my career with Phillips in 1980 and worked more than 20years in a variety of technical and management positions in the plastics, planning, technology, and exploration and production arenas.

    So, like many of my fellow employees, my connections to ConocoPhillips run deep. It is those strong connections that give me confidence in our ability to successfully reposition our company and provide Phillips 66 with the capability to prosper as a separate entity.

    The businesses that will make up Phillips 66 refining and marketing, chemicals, and midstream are already leaders in their industry segments. As always, our job remains supplying consumers and business with the fuels and petrochemicals that are essential to modern life. With such strong positions in all our businesses, I look forward to the opportunities and the challenges that tomorrow will bring and to leading a highly experienced, capable, diverse and knowledgeable global workforce during the years ahead.

    Editors Note: In addition to the latest news on repositioning, this issue of spirit Magazine delivers profiles of Corporate Aviation, Kuparuk and the 2011 Subsurface Symposium; a heartfelt testimonial to our military reservists and veterans; vibrant pictorials of the San Juan Business Units recent Native American Appreciation Day and the Tour de Timor bicycle rally; two new Faces of ConocoPhillips profiles; and 15pages of timely company news.

    The staff of spirit Magazine would like to wish all of our readers Happy Holidays and best wishes for a safe, productive and exciting 2012.

    Sharing Insights

    1spirit Magazine

  • On the Cover | photography by Hall PuckettConocoPhillips Chairman and CEO Jim Mulva with Ryan Lance, future chairman and CEO of the new ConocoPhillips, and GregGarland, future chairman and CEO of Phillips 66

    spirit MagazineFourth Quarter 2011

    Contents4

    6

    14

    24

    32

    40

    46

    50

    ConocoPhillips in Photos Albuquerque International Balloon Fiesta

    Repositioning efforts gain momentum Kristi RichardsonMilestones bring the future into focus

    Corporate Aviation Services | Janet HardyAchieving higher altitudes of service

    Kuparuk | Amy Jennings BurnettAlaska oil field celebrates a rite of passage

    Military Service | Monica SilvaReservists and veterans deliver value from sea to shining sea

    San Juan Powwow | Patrick CurreyNative American Appreciation Day

    Tour de Timor | Catherine BissAustralia Business Unit participation gets bigger, better and tougher

    Subsurface Symposium | Nellie BetzenGeologists, geophysicists and reservoir engineers connect

    Twin Otter plane leaving Deadhorse, Alaska, hangar

    Faces of ConocoPhillipsThe Wall Family: Leaving a legacyDavid Berryman: Fretting to relieve stress

    In the News A compilation of news from around ConocoPhillips world

    56

    62

  • by Garth HannumDuring a recent trip to ConocoPhillips North Sea assets, Senior Videographer Garth Hannum noticed a photograph hanging on the wall near the entrance to the lab at the Teesside Terminal on the U.K.s east coast. I thought it would be interesting if we could recreate the original photograph using the lab as it looks today.

    Volunteers John Bell, Paul Rovardi, Mike Dietz and Philip McConnell studied the photo, found the necessary props and struck a pose.

    With the help of Technical Analyst Paul Rovardi, the original photo was found to have been taken in the early 1980s and featured employees Brian Henderson Tynne, John Fitzgibbon, John Spink and Chris Williams.

    The lab is a gas chromatography laboratory where natural gas liquids (NGLs) are analyzed.

    Today, the function of the labo-ratory remains basically the same, although the technology has

    moved forward and the techniques the analysts use are much improved. The main difference between the two photos is the focus on safety, in particular the PPE, or lack thereof, in the early photo, which is missing eye protection, flame-retardant coveralls and protective footwear.

    The photo gives further proof of how

    ConocoPhillips, and the industry as a whole, has taken serious measures to improve worker safety standards that have become part of our everyday culture and SPIRIT values at work and at home.

    Then & now Teesside

    although the technology has

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  • ConocoPhillips

    in PhotosAlbuquerque | photography by Garth HannumFor the first time, the Phillips 66 brand flew its logo balloon at the Albuquerque International Balloon Fiesta (AIBF) Oct. 1-9.Hundreds of thousands of people attended the fiestaand were treated to more than 500 colorful hot airballoons floating through the picturesque Albuquerque sky.In addition to the Phillips 66 balloonlocated in the prominent position in front of the local NBC and ABC affiliates stages, Phillips 66ban-ners wereseen around the field,and thousands of Phillips 66 Frisbees were given awayto help build brand affinity in that market.Phillips 66 Street Teams roamed the field to help consumers learn more about the Phillips 66 Local Legends promo-tion and encourage participation and traffic back to Phillips 66 stations.

    Leading up to the AIBF, Phillips 66 ran a Balloon Trading Card promotion in stores with an instant-win scratch-off on the back of each card.Consumers were encouraged to come in each week during September leading up to the AIBF to collect all four trading cards.

    Above: Phillips 66 balloon pilot Sean Askrew fires the propane burner during the Sunday Night Balloon Glow. Left: Balloons known as special shapes are always a crowd favorite. Below: Phillips66 Frisbees were a popular giveaway at the 40th AIBF.

    The Albuquerque International Balloon Fiesta was a great way to build brand awareness, sup-port our customers and promote the new Local Legends campaign.

    http://www.balloonfiesta.com/http://www.balloonfiesta.com/http://www.phillips66.com/

  • Left: Every morning, spectators arrive before sunrise for the mass ascension. It features hundreds of balloons launching in several waves and lasts up to two hours.

    Below left: The Phillips66 balloon lifts off during mass ascension.

    Below right: Kimberly Dunman, associate promotions director, prepares for her first balloon ride with help from Dave Wright, senior sales representative, and Tami Walker, manager, Brand Management.

  • REPOSITIONING

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  • 5spirit Magazine

    REACHING MAJOR MILESTONESRepositioning is a complex process, and early on, the transition steering committee laid out progressive milestones that had to be met to enable completion of the transition during the second quarter of 2012.