Stephen Richardson's questions to ConocoPhillips (COP) leadership • Q1 2025
Question
Stephen Richardson asked for ConocoPhillips's current views on its cost structure, opportunities for further improvements, and how it approaches costs as the industry matures.
Answer
Chairman and CEO Ryan Lance described continuous cost evaluation as part of the company's DNA, involving constant benchmarking. He highlighted that the Marathon Oil integration created a new opportunity to review processes and drive efficiencies across the entire organization, which is crucial for maintaining a competitive edge in a volatile macroeconomic environment.