conocophillips

 

  • [63] Environmental record On April 11, 2007, ConocoPhillips became the first U.S. oil company to join the U.S.

  • [7] Company type: Public; Traded as: NYSE: COP, S&P 100 component, S&P 500 component; Industry: Oil and gas; Predecessors: Conoco, Phillips Petroleum Company; Founded: August
    30, 2002; 21 years ago (as ConocoPhillips Co.); Founder: Frank Phillips; Headquarters: Houston Energy Corridor, Houston, Texas, U.S.; Area served: Worldwide; Key people: Ryan Lance (Chairman & CEO); Products: Petroleum, Natural gas, Natural
    gas liquids, Bitumen, Liquefied natural gas; Production output: 1,826 thousand barrels of oil equivalent (11,170,000 GJ) per day (2023); Revenue: US$58.57 billion (2023); Operating income: US$14.73 billion (2023); Net income: US$10.96 billion
    (2023); Total assets: US$95.92 billion (2023); Total equity: US$49.28 billion (2023); Number of employees: c. 9,900 (December 2023) History 1875 to January 1993[edit] In 1875, the “Continental Oil and Transportation Company” (acronym “Conoco”)
    was founded in Ogden, Utah.

  • [27] In November 2016, the company announced the move of its headquarters to Energy Center Four by 2018.

  • [26] In July 2016, the company agreed to sell a 35% stake in three Senegalese deepwater oil and gas exploration blocks for about $350 million to Woodside Petroleum.

  • [29] In March 2017, the company agreed to sell its Foster Creek Christina Lake Partnership interest, Western Canada Deep Basin Gas assets to Cenovus Energy for $13.3 billion.

  • [9] The Conoco-Phillips Building in downtown Anchorage, constructed in 1983 as the ARCO Tower, is the company’s Alaska headquarters as well as the tallest building in Alaska
    Marland Oil Company, founded by exploration pioneer E. W. Marland, later acquired the assets of Continental Oil Co.. On June 26, 1899, Marland Oil changed its name to Continental Oil Co. and moved its headquarters to Fargo, North Dakota.

  • [48][49] The purchase would make it the third-largest energy company currently operating a substantial presence in the oil-rich Permian Basin.

  • [52] September 2021 to the present[edit] In September 2021, ConocoPhillips announced it would buy all of Royal Dutch Shell PLC’s assets in the Permian basin for around $9.5
    billion in cash.

  • [67] According to the 2021 Arctic Environmental Responsibility Index (AERI), ConocoPhillips is ranked as the fourth most environmentally responsible company out of 120 oil,
    gas, and mining companies involved in resource extraction north of the Arctic Circle.

  • [19] On May 1, 2012, all midstream, downstream, marketing and chemical operations were separated into a new company named Phillips 66, headquartered in Houston.

  • [38] In May 2020, the company sold its assets in Northern Australia to Santos Limited for $1.39 billion.

  • [34] In March 2019, the World Bank ruled that Venezuela must pay ConocoPhillips $8.7 billion to compensate for the 2007 expropriation of oil assets.

  • [45][46][47] On October 19, 2020, ConocoPhillips announced it would buy Concho Resources for $9.7 bln.

  • Climate Action Partnership in February 2010, at the same time as BP and Caterpillar Inc. left the partnership.

  • [25] In January 2013, Conoco announced that it would sell its Rocky Mountain assets to Denbury Resources for $1.05 billion.

  • [11] Aerial view of the former ConocoPhillips headquarters taken in 2002 2002[edit] On August 30, 2002, Conoco Inc. and Phillips Petroleum Company, whose headquarters were
    in nearby Bartlesville, Oklahoma merged into ConocoPhillips.

  • [18] July 2011 to January 2017[edit] On July 14, 2011, ConocoPhillips announced its intent to separate the company’s upstream and downstream businesses into two stand-alone,
    publicly traded corporations, with the intent of maximizing shareholder value.

  • [39][40] In July 2020, the company announced the acquisition of acreage in the Montney Formation in Canada for $375 million.

  • [53] In June 2022, ConocoPhillips became one of the stakeholders in the joint venture with QatarEnergy for the North Field East (NFE) expansion, holding 3.125%, as well as
    holding 6.25% stakes in the North Field South (NFS), a second phase expansion of the NFE.

  • [66] In May 2020, it was reported that the company was planning new drillings in Alaska’s North Slope which would affect the life of 400 in the Native Village of Nuiqsut.

  • [33] In May 2018, ConocoPhillips seized assets belonging to the Venezuelan state oil company PDVSA from the Isla refinery on Curacao to collect on $2 billion owed since a
    2007 court decision.

  • [30] Along with the sale of natural gas fields in the U.S., it led to a reduction of close to 30% of its proved oil and gas reserves.

  • [41][42][43] On 1 August 2020, Steinar Våge who has been with the ConocoPhillips company since 1988, was elected into the position of President for ConocoPhillips Europe,
    Middle East and North Africa.

  • [36] In September 2019, the company sold its business in the United Kingdom for $2.675 billion.

  • [51] The acquisition of Concho Resources was confirmed in January 2021, after shareholders from both companies announced the approval.

  • In 2007, ConocoPhillips announced it would spend $150 million that year on alternative and unconventional energy sources, up from $80 million in 2006.

  • [21][22] In April 2012, ConocoPhillips sold its Trainer Refinery to Monroe Energy LLC, a subsidiary of Delta Air Lines.

  • [31] In June 2017, the company agreed to sell assets in the Barnett Shale for $305 million.

  • [16][17] On May 10, 2006, Richard Armitage, former deputy-secretary of the U.S. State Department, was elected to the board of directors of the ConocoPhillips oil company.

  • Executive Vice President Matt Fox, stated that this was the fourth successful exploration well to be found on the Norwegian continental shelf in the past 16 months.

 

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Photo credit: https://www.flickr.com/photos/cayobo/16930121391/’]