ConocoPhillips is one of the largest exploration and production companies in the world, playing a pivotal role in the global energy industry. At the helm of this multinational corporation is Ryan M. Lance, who has been serving as the Chairman and CEO since 2012. With decades of experience in the oil and gas sector, Lance has steered the company through industry challenges and opportunities, earning recognition for his leadership and expertise.
This blog provides detailed insights into Ryan M. Lance’s professional journey, his net worth, and his compensation package. Whether you’re an investor, industry professional, or simply curious about executive salaries, this post offers valuable information.
Who Is Ryan M. Lance?
Professional Background
Ryan M. Lance is a petroleum engineer by training, holding a Bachelor of Science degree in petroleum engineering from Montana Technological University (1984). His career spans over four decades, during which he has held senior management and technical roles across organizations such as Phillips Petroleum, ARCO, and ConocoPhillips.
Leadership Roles
Since becoming CEO in 2012, Lance has led ConocoPhillips through significant transformations, including:
- Expanding international exploration and production operations.
- Managing regional responsibilities across Asia, Africa, the Middle East, and North America.
- Overseeing major projects, technology integration, and downstream strategy development.
External Leadership
Beyond his role at ConocoPhillips, Ryan Lance is actively involved in industry advocacy and charitable initiatives:
- Former Chairman of the American Petroleum Institute, now serving on its Executive Committee.
- Vice Chair of the National Petroleum Council.
- Member of the Business Roundtable Board.
- Board memberships include the National Fish and Wildlife Foundation, George and Barbara Bush Foundation, and PGA Reach.
Ryan also supports youth charities through his involvement with Spindletop International, demonstrating his commitment to giving back to the community.
ConocoPhillips CEO Salary Breakdown
Ryan Lance’s compensation package reflects his leadership position in one of the world’s most successful energy companies. His earnings are significantly above the industry average, showcasing his value to the organization.
2024 Total Compensation
In 2024, Ryan Lance’s total compensation was reported at $23.12 million, broken down into:
- Base Salary: $1.69 million.
- Performance Bonuses: A substantial portion tied to company profitability and shareholder returns.
- Stock Awards: Equity compensation contributing to long-term wealth.
- Other Incentives: Additional perks such as retirement benefits, travel allowances, and healthcare plans.
2021 Total Compensation
In 2021, Lance earned $23,904,954, which was 133 times the median salary of ConocoPhillips employees. This included:
- Base Salary: $1,791,833.
- Bonuses and Stock Awards: The majority of his earnings came from performance-based incentives.
Comparison to Industry Peers
Ryan Lance consistently ranks among the highest-paid CEOs in the energy sector. While the average energy industry CEO earns around $6 million annually, Lance’s compensation far exceeds this figure, reflecting ConocoPhillips’ strong performance under his leadership.
Ryan Lance’s Net Worth
Estimated Net Worth
Ryan Lance’s net worth is estimated to be between $60–80 million, driven by:
- Annual salary and bonuses.
- Long-term stock awards and equity holdings.
- Investments and other income sources.
Stock Ownership
As CEO, Lance holds significant shares in ConocoPhillips, aligning his financial interests with the company’s success. His vested stock options contribute substantially to his overall wealth, ensuring that his compensation is tied to long-term company performance.
ConocoPhillips Performance and CEO Pay
Impact on Compensation
Ryan Lance’s earnings are closely tied to ConocoPhillips’ financial performance. Under his leadership, the company has consistently delivered strong results, including:
- Increased profitability through strategic exploration and production initiatives.
- Enhanced shareholder value via dividends and stock buybacks.
- Commitment to sustainability and environmental responsibility.
Revenue and Growth
ConocoPhillips has maintained a robust financial position in recent years, allowing it to reward its leadership team generously. Lance’s compensation reflects his role in driving the company’s success and navigating industry challenges.
Comparison with Other Energy Sector Leaders
How does Ryan Lance’s salary compare to other CEOs in the energy industry?
Industry Salary Comparison
- ExxonMobil CEO: Darren Woods earned $35.9 million in 2024.
- Chevron CEO: Mike Wirth earned $22.6 million in 2024.
- BP CEO: Bernard Looney earned $12.5 million in 2024.
Ryan Lance’s compensation is competitive, placing him among the top-paid CEOs in the sector. This reflects ConocoPhillips’ position as a leading energy company and Lance’s contributions to its success.
Public Opinion on CEO Salaries
Executive compensation in the energy sector often sparks debate. Here’s a breakdown of the perspectives:
Supporters’ Perspective
- High salaries are justified for CEOs who drive profitability and shareholder value.
- Lance’s pay reflects his leadership, expertise, and ability to navigate the complexities of the energy industry.
Critics’ Perspective
- Some argue that CEO pay should be more balanced with employee wages.
- The 133-to-1 CEO-to-median-employee pay ratio raises concerns about income inequality.
Historical CEO Compensation at ConocoPhillips
Ryan Lance’s compensation aligns with ConocoPhillips’ history of rewarding strong leadership. Previous CEOs earned competitive salaries, but Lance’s tenure has elevated the company’s standards for executive pay.
Other High-Paid Executives
- Alan Hirshberg earned $9,468,653 in 2024.
- The average executive compensation at ConocoPhillips is $235,607 per year.
These figures highlight the company’s commitment to rewarding its leadership team for exceptional performance.
Key Insights into CEO Compensation
Understanding Ryan Lance’s salary and net worth provides transparency into corporate governance at ConocoPhillips. Here are the key elements of CEO compensation:
1. Base Salary
A fixed annual amount reflecting the CEO’s role and responsibilities.
2. Performance Bonuses
Rewards tied to company profitability, shareholder returns, and operational success.
3. Stock Awards
Equity compensation incentivizing long-term company growth and aligning CEO interests with shareholders.
4. Other Benefits
Additional perks such as retirement plans, travel allowances, and healthcare coverage.
Conclusion
Ryan M. Lance’s leadership at ConocoPhillips has been instrumental in driving the company’s success. His compensation package, while substantial, reflects his contributions to the organization and the energy industry as a whole. With an estimated net worth of $60–80 million, Lance remains one of the highest-paid CEOs in the sector, earning recognition for his expertise and strategic vision.
As ConocoPhillips continues to thrive, Lance’s role as CEO will remain a key factor in the company’s performance and growth.
FAQs
- Who is the CEO of ConocoPhillips?
Ryan M. Lance is the Chairman and CEO of ConocoPhillips, serving since 2012.
- What is Ryan Lance’s annual salary?
In 2024, his total compensation was reported at $23.12 million, including a base salary of $1.69 million.
- How much is Ryan Lance’s net worth?
Ryan Lance’s net worth is estimated to be $60–80 million, driven by salary, bonuses, and stock awards.
- How does Ryan Lance’s pay compare to other energy CEOs?
Ryan Lance’s earnings are competitive, placing him among the top-paid CEOs in the sector, alongside leaders from ExxonMobil and Chevron.
- What factors determine Ryan Lance’s compensation?
His pay is tied to ConocoPhillips’ financial performance, shareholder returns, and long-term growth strategies.