Key Takeaways ConocoPhillips explores and produces oil, NGLs, bitumen, and natural gas in key U.S. shale basins.The company's shale portfolio supports breakeven costs as low as $40 per barrel WTI.Marathon Oil acquisition added high-quality, low-cost inventory to COP's U.S. Lower 48 assets.ConocoPhillips (COP) , a leading exploration and production company in the United States, is involved in the exploration and production of crude oil, natural gas liquids, bitumen and natural gas. The company boasts a stron ...