In this paper, we continue to develop and study the conservative level set method for incompressible two phase flow with surface tension introduced in [J. Comput. Phys. 210 (2005) 225-246]. We formulate a modification of the reinitialization and present a theoretical study of what kind of conservation we can expect of the method. A finite element discretization is presented as well as an adaptive mesh control procedure. Numerical experiments relevant for problems in petroleum engineering and material science are presented. For these problems the surface tension is strong and conservation of mass is important. Problems in both two and three dimensions with uniform as well as non-uniform grids are studied. From these calculations convergence and conservation is studied. Good conservation and convergence are observed.