ConocoPhillips confirmed 2009 preliminary net proved reserve additions of approximately 1.216 billion barrels of oil equivalent (BOE), including equity affiliates. The company's reserve replacement ratio was 141 percent, based on 865 million BOE of production, including fuel gas. ConocoPhillips' total proved reserves at year-end 2009 were 10.326 billion BOE.

"Our strong reserve replacement ratio was achieved by progressing major projects during 2009," said John Carrig, president and chief operating officer. "Our reserve replacement ratio also benefited from the addition of Syncrude oil sands mining operations and net reserve additions from our LUKOIL Investment segment."

Year-end proved reserves include 248 million barrels associated with the company's Canadian Syncrude operations, now required under recent changes in the U.S. Securities and Exchange Commission (SEC) regulations. The company’s organic reserve replacement ratio, excluding Syncrude as well as sales and acquisitions, was 110 percent.

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