ConocoPhillips (NYSE: COP) recently spun off its downstream component, and is now able to focus fully on its core business. In this video, Motley Fool energy and materials analyst Taylor Muckerman discusses ConocoPhillips' ambitious, yet attainable, goals for growth. He also looks at the benchmarks that the company will be using to make its decisions on capital expenditures over the course of the next five years, during which the company hopes to grow production each year by 3%-5%.

Joel South has no positions in the stocks mentioned above. Taylor Muckerman has no positions in the stocks mentioned above. The Motley Fool owns shares of ExxonMobil. Motley Fool newsletter services recommend Chevron. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.