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| 910 LOUISIANA | BEIJING | |||
| HOUSTON, TEXAS | DALLAS | |||
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Exhibit 5.1 February 3, 2009 |
TEL +1 713.229.1234 FAX +1 713.229.1522 www.bakerbotts.com |
001349.0369
ConocoPhillips
600 North Dairy Ashford
Houston, Texas 77079
600 North Dairy Ashford
Houston, Texas 77079
Ladies and Gentlemen:
In connection with the issuance by ConocoPhillips, a Delaware corporation (ConocoPhillips),
of $1,500,000,000 aggregate principal amount of its 4.75% Notes due 2014 (the 2014 Notes),
$2,250,000,000 aggregate principal amount of its 5.75% Notes due 2019 (the 2019 Notes) and
$2,250,000,000 aggregate principal amount of its 6.50% Notes due 2039 (the 2039 Notes and,
together with the 2014 Notes and the 2019 Notes, the Notes), in each case guaranteed by
ConocoPhillips Company, a Delaware corporation (CPCo) (the Guarantees), pursuant to (a) the
Registration Statement of ConocoPhillips and CPCo on Form S-3 (Registration Nos. 333-133363 and
333-133363-03) (the Registration Statement), which was filed by ConocoPhillips and CPCo with the
Securities and Exchange Commission (the Commission) under the Securities Act of 1933, as amended
(the Act), and (b) the related prospectus dated April 18, 2006, as supplemented by the prospectus
supplement relating to the sale of the Notes dated January 29, 2009 (as so supplemented, the
Prospectus), as filed by ConocoPhillips and CPCo with the Commission pursuant to Rule 424(b)
under the Act, certain legal matters with respect to the Notes and the Guarantees are being passed
upon for you by us. At your request, this opinion is being furnished to you for filing as Exhibit
5.1 to the Current Report of ConocoPhillips on Form 8-K to be filed with the Commission on the date
hereof (the Form 8-K).
The Notes and the related Guarantees are to be issued pursuant to the Indenture, dated as of
October 9, 2002 (the Indenture), among ConocoPhillips, as issuer, CPCo, as guarantor, and The
Bank of New York Mellon Trust Company, National Association, as trustee (the Trustee). The terms
of the Notes of each series (including the form of Note) are to be established pursuant to
resolutions adopted by the Board of Directors of ConocoPhillips.
In our capacity as your counsel in the connection referred to above, we have examined
originals, or copies certified or otherwise identified, of (i) ConocoPhillips Restated Certificate
of Incorporation and By-laws and CPCos Restated Certificate of Incorporation and By-laws, each as
amended to date; (ii) the Underwriting Agreement (the Underwriting Agreement) incorporated by
reference into the Terms Agreement, dated as of January 29, 2009 (the Terms Agreement), among
ConocoPhillips and the several Underwriters named in Schedule A to the Terms Agreement (the
Underwriters), relating to the issuance and sale of the Notes; (iii) the Registration Statement
and the Prospectus; (iv) the Indenture, together with the forms of the terms of the Notes (the
Terms of Notes) of each series, in each case as filed as exhibits to the Form 8-K; and (v) the
corporate records of ConocoPhillips and CPCo, including
| ConocoPhillips | 2 | February 3, 2009 |
minute books of ConocoPhillips and CPCo as furnished to us by them, certificates of public
officials and of representatives of ConocoPhillips and CPCo, statutes and other instruments and
documents as a basis for the opinions hereinafter expressed. In giving such opinions, we have
relied upon certificates of officers of each of ConocoPhillips and CPCo and of public officials
with respect to the accuracy of the material factual matters contained in such certificates. In
giving the opinions below, we have assumed that the signatures on all documents examined by us are
genuine, that all documents submitted to us as originals are accurate and complete, that all
documents submitted to us as copies are true and correct copies of the originals thereof and that
all information submitted to us was accurate and complete. We also have assumed that the Notes of
each series will be issued and sold in the manner set forth in the Prospectus.
On the basis of the foregoing, and subject to the assumptions, limitations and qualifications
hereinafter set forth, we are of the opinion that the Notes and the related Guarantees will, when
duly executed, issued and delivered by ConocoPhillips, executed, endorsed and delivered by CPCo and
authenticated and delivered by the Trustee in accordance with the terms of the Indenture and the
Terms of Notes and duly purchased and paid for by the Underwriters in accordance with the terms of
the Terms Agreement (including the provisions of the Underwriting Agreement incorporated by
reference in the Terms Agreement), constitute legal, valid and binding obligations of
ConocoPhillips and CPCo, respectively, enforceable against ConocoPhillips and CPCo, respectively,
in accordance with their terms, except as that enforcement is subject to any applicable bankruptcy,
insolvency, reorganization, moratorium, fraudulent transfer or conveyance or other laws relating to
or affecting creditors rights generally, and general principles of equity (regardless of whether
that enforceability is considered in a proceeding in equity or at law).
The opinion set forth above is limited in all respects to matters of the contract law of the
State of New York, the General Corporation Law of the State of Delaware and applicable federal law.
We hereby consent to the filing of this opinion of counsel as Exhibit 5.1 to the Form 8-K. We
also consent to the reference to our Firm under the heading Legal Matters in the Prospectus. In
giving this consent, we do not hereby admit that we are in the category of persons whose consent is
required under Section 7 of the Act or the rules and regulations of the Commission thereunder.
Very truly yours,
/s/ Baker Botts L.L.P.
