Ryan Lance

Ryan Michael Lance (born May 21, 1962) is an American petroleum engineer and business executive serving as Chairman and Chief Executive Officer of ConocoPhillips, one of the world's largest independent exploration and production companies. He has led the company since May 2012, overseeing its transformation into a focused upstream energy company.

A Montana native who worked on oil rigs to put himself through college, Lance has spent four decades in the oil and gas industry. His career spans ARCO, Phillips Petroleum, and ConocoPhillips, with extensive experience in operations from Alaska to the Middle East. He and his wife Lisa have become major philanthropists, donating $31 million to his alma mater Montana Tech in 2023—the largest gift in the university's 123-year history.

Early life and education

Ryan Michael Lance was born on May 21, 1962, in Great Falls, Montana. He grew up in the area and graduated from Great Falls High School.

Lance attended Montana Technological University (Montana Tech) in Butte, earning a Bachelor of Science degree in petroleum engineering in 1984. To finance his education, he worked on oil rigs in Wyoming during summers. A professor named Gustav Stolz helped him get his first job roughnecking, an experience that sparked his passion for the oil industry. As Lance later recalled, he "fell in love with the industry" during those summers on the rigs.

Career

ARCO (1984–2000)

Lance began his career with ARCO Alaska in 1984 immediately after graduating from Montana Tech. He would spend 17 years with ARCO, ultimately heading Western North Slope operations in Alaska.

His early career included various management, engineering, and operations positions across ARCO's portfolio:

• 1984–1989: ARCO Alaska, initial engineering and operations roles
• 1989–1992: Bakersfield, California operations
• 1992–1994: Midland, Texas, working on coalbed methane operations in the San Juan Basin
• 1994–1996: Alaska, as exploration engineering manager
• 1996–1998: Vastar Resources in Houston, Texas, as planning manager
• 1998–2000: Vice President of Western North Slope for ARCO Alaska

Phillips Petroleum and ConocoPhillips (2000–present)

In 2000, British Petroleum acquired Atlantic Richfield (ARCO). Due to antitrust concerns, the federal government required BP to divest its Alaska assets, which were sold to Phillips Petroleum. Lance, who had been with ARCO Alaska, became a Phillips employee.

When Conoco and Phillips Petroleum merged in 2002 to form ConocoPhillips, Lance was named Vice President, Lower 48. Over the following decade, he held progressively senior roles with responsibility for international exploration and production, regional oversight of operations in Asia, Africa, the Middle East, and North America, and corporate functions including technology, major projects, and downstream strategy.

In May 2012, Lance was appointed Chairman and Chief Executive Officer of ConocoPhillips. Under his leadership, the company has focused on becoming a pure-play exploration and production company, divesting downstream and midstream assets to concentrate on upstream oil and gas operations.

Personal life

Marriage and family

Lance is married to Lisa Lance, who is also an alumna of Montana Tech. The couple has two children and, as of 2023, was preparing to welcome their first grandchild.

The Lances maintain a home in Houston, Texas, where ConocoPhillips is headquartered. Ryan has spoken publicly about his Montana roots and the values instilled by growing up in a working-class environment.

Philanthropy

The Lances are significant philanthropists, particularly to educational causes:

In April 2023, Ryan and Lisa Lance made a historic $31 million gift to Montana Technological University—the largest donation in the school's 123-year history. The gift established the Lance Scholars program, which provides Montana resident students with four-year scholarships of $4,000 annually. It also created an endowed Energy Chair and provided funding for Digger Athletics.

In recognition of the gift, Montana Tech renamed its School of Mines and Engineering to the "Lance College of Mines and Engineering."

Lance explained the motivation: "Lisa and I made this gift to Montana Tech to recognize the impact the university has had on our lives. We want to help Montana kids go to school and have a profound impact on their futures."

The couple had previously donated $1 million to Montana Tech before the larger gift.

Lance also serves on the boards of the National Fish and Wildlife Foundation, the George and Barbara Bush Foundation, PGA Reach, and Spindletop International, a charity benefiting youth. He is an advisory board member of Montana Tech and a trustee of the Yellowstone Park Foundation.

Controversies

Willow Project

The most significant controversy during Lance's tenure has been the Willow Project, a massive oil drilling venture in Alaska's National Petroleum Reserve on the North Slope. Approved by the Biden administration in March 2023 over objections from environmental advocates, the project is described as the largest oil drilling project in U.S. history.

Environmental groups criticized the approval as inconsistent with climate goals. The project is expected to produce approximately 180,000 barrels of oil daily and generate significant carbon emissions. Native Movement and other Indigenous organizations have argued that ConocoPhillips did not conduct adequate research on the project's environmental, health, and social impacts on nearby Indigenous communities.

Lance has defended the project, arguing: "If we don't get [oil] from Alaska, it's going to come from someplace... It's going to come from probably someplace else around the world that has less environmental standards than what the state of Alaska has."

Climate policy criticism

ConocoPhillips has faced criticism from climate advocacy groups for its approach to climate policy. InfluenceMap's November 2022 Corporate Climate Policy Footprint report ranked ConocoPhillips fourth among the most negatively influential companies on climate policy globally.

Critics point to several issues:

• The company's focus on reducing emissions per barrel while total emissions remain high
• Advocacy for government policy decisions that climate scientists argue are misaligned with IPCC recommendations
• Political donations to organizations and politicians skeptical of climate action
• Involvement in lawsuits where oil companies were accused of misleading the public about climate change

Lance has maintained that ConocoPhillips operates responsibly: "I think you'll see what we've done has been responsible and done with the environment in mind."

Climate activist organizations have designated Lance as a "climate criminal" for his leadership of fossil fuel extraction operations.

Compensation

Lance's compensation as Chairman and CEO of ConocoPhillips:

• 2024: $23.1 million total compensation
  • Base salary: $1.8 million
  • Bonus: $3.5 million
  • Stock awards: $15.4 million
  • Other compensation: $530,499

• 2022: Approximately $19 million

Lance's total compensation exceeds the average for companies of similar size in the U.S. market ($13.6 million).

Net worth

As of 2024, Lance's net worth is estimated between $170 million and $296 million, derived primarily from his ConocoPhillips compensation and stock holdings accumulated over his 13-year tenure as CEO.

He directly owns approximately 0.012% of ConocoPhillips shares, valued at approximately $14 million. He also holds shares in Freeport-McMoRan worth approximately $2 million.

Board memberships and affiliations

Corporate and industry

• American Petroleum Institute – Executive Committee (former Chairman)
• National Petroleum Council – Agenda Committee Chair
• Independent Petroleum Association of America – Board of Directors

Non-profit and educational

• National Fish and Wildlife Foundation – Board of Directors
• George and Barbara Bush Foundation – Trustee
• PGA Reach – Trustee
• Spindletop International – Board of Directors
• Montana Technological University – Advisory Board
• Yellowstone Park Foundation – Board member (former)

Professional

• Society of Petroleum Engineers – Member
• American Institute of Chemical Engineers – Member