ConocoPhillips (COP) US Equities Encyclopedia
ConocoPhillips (COP) History Encyclopedia
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In 1875, Continental Oil and Transportation Company ("Conoco" for short) was established in Ogden, Utah. In 1885, ConocoPhillips was re merged as part of Standard Oil. ConocoPhillips became independent in 1913 after the United States Supreme Court dissolved Standard Oil. -
By 1929, Conoco had become a fully integrated oil company coal Distributors of petroleum, kerosene, grease and candles. -
In 1929, Conoco merged with Marland Oil Company. Marland Oil Company was founded by exploration pioneer E. W. Marland, and later acquired the assets of Continental Oil Co. On June 26, 1899, Maland Petroleum Company changed its name to Continental Petroleum Company and moved its headquarters to Fargo, North Dakota. -
In 1998, ConocoPhillips acquired the rights and interests of 10.5 blocks of Kashagan oilfield in Kazakhstan Caspian Sea through the North Caspian Sea Production Sharing Agreement (NCSPSA). On November 26, 2012, Indian Oil and Gas Overseas Company agreed to purchase 8.4% of ConocoPhillips' shares in Kasha glycerol field at a price of about 5 billion dollars, which is the largest acquisition ever made by the company. -
On August 30, 2002, Conoco Inc. and Phillips Petroleum Company merged to form ConocoPhillips. -
In September 2004, the company sent Lukoil The investment is 2 billion dollars. -
In March 2006, ConocoPhillips acquired Headquartered in Germany Wilhelmshawner Raffineriegesellschaft mbH. The company also acquired Burlington Resources for $35 billion in cash and stock. -
On July 14, 2011, ConocoPhillips announced its intention to split its upstream and downstream businesses into two independent listed companies to maximize shareholder value. On May 1, 2012, all midstream, downstream, marketing and chemical businesses were split into a company called Phillips 66 A new company based in Houston. ConocoPhillips continues to operate as an upstream (exploration and production) company. -
In April 2012, ConocoPhillips sold its Trainer refinery to Delta Airlines Monroe Energy LLC, a subsidiary of. -
In May 2012, ConocoPhillips completed the spin off of downstream assets and established Phillips 66 。 -
In 2012, ConocoPhillips began to divest Nigeria's onshore and offshore assets. ConocoPhillips and BNP Paribas It signed a contract to sell all its assets, including 17% shares of Brass LNG project and oil exploitation lease right OML 131, of which ConocoPhillips holds 47.5% shares. ConocoPhillips has operated in Nigeria for more than 46 years. -
In January 2013, ConocoPhillips announced that it would sell its Rocky Mountain assets to Danbury Resources （Denbury Resources）。 -
In July 2016, the company agreed to pay about $350 million to Woodside Petroleum Ltd Woodside Petroleum sold 35% shares of three deepwater oil and gas exploration blocks in Senegal. -
In November 2016, the company announced that it would move its headquarters to Energy Center Four in 2018. -
In February 2017, Ecuador was ordered to pay US $380 million to the company due to illegal expropriation of its oil investment. -
In March 2017, the company agreed to sell its Foster Creek Christina Lake Partnership equity and Western Canada Deep Basin Gas assets to Cenovus Energy at a price of US $13.3 billion. With the sale of natural gas fields in the United States, the company has reduced its proven oil and gas reserves by nearly 30%. -
In June 2017, the company agreed to sell Barnett shale assets at a price of $305 million. -
In August 2017, the company sold its business in the San Juan Basin for $2.5 billion. -
In May 2018, ConocoPhillips seized the assets of PDVSA, a Venezuelan state-owned oil company, from Isla Refinery in Curacao Island to recover the $2 billion owed since the court judgment in 2007. -
March 2019, the world bank It ruled that Venezuela must pay $8.7 billion to ConocoPhillips to compensate for the expropriation of oil assets in 2007. -
In April 2019, the company sold 30% of the shares of Greater Sunrise Fields to the East Timorese government. -
In September 2019, the company sold its business in the UK at a price of 2.675 billion US dollars. -
By 2020, ConocoPhillips has operated in 15 countries, including the United States (49% of 2019 production), Norway (10% of 2019 production), Canada (5% of 2019 production), Australia (12% of 2019 production), Indonesia (4% of 2019 production), Malaysia (4% of 2019 production), Libya (3% of 2019 production) Both China (3% of 2019 production) and Qatar (6% of 2019 production) have production. The company's production in the United States includes production in Alaska, the Eagle Ford Group, the Permian Basin, the Bakken Formation, the Gulf of Mexico and the Anadarko Basin. About one third of the company's U.S. production is in Alaska, and it operates in Cook Bay area, the Alps oil field near the Colville River, and the Kupaluk oil field and Pradhoe Bay oil field on the northern slope of Alaska; -
In May 2020, the company sold its assets in northern Australia to Santos Limited 。 -
In July 2020, the company announced that it would purchase the land of Canada's Montney Formation for 375 million dollars. -
On October 19, 2020, ConocoPhillips announced that it would acquire the company with US $9.7 billion Concho Resources 。 This acquisition will make it the third largest energy company with a large number of businesses in the oil rich Permian Basin. After the shareholders of the two companies announced their approval, the acquisition of Concho Resources was confirmed in January 2021. Ryan Lance, Chairman and CEO of ConocoPhillips, said that this acquisition will lead to structural changes in the industry, which is crucial for investors. The company hopes to provide the world with affordable energy, generate generous returns, and demonstrate ESG leadership. -
In December 2020, ConocoPhillips discovered the largest oil of this year in the Slagugle oil well, with reserves ranging from 75.5 million to 201 million barrels. Matt Fox, Executive Vice President, said that this was the fourth successful exploration well discovered on the Norwegian continental shelf in the past 16 months. -
In September 2021, ConocoPhillips announced that it would purchase with cash of about 9.5 billion dollars Royal Dutch Shell Plc All assets in the Permian Basin. -
In June 2022, ConocoPhillips became one of the shareholders of the joint venture expansion project of North Oilfield East (NFE) with Qatar Energy Corporation, holding 3.125% of the shares, and 6.25% of the shares of North Oilfield South (NFS), which is the second phase expansion project of NFE. NFE expansion is expected to start production in 2025, and NFS will start production later in 2028. -
In 2023, the Biden government approved ConocoPhillips' request to drill oil off the coast of Alaska. -
In 2023, ConocoPhillips purchased another 50% of the shares of Canada's Salmont Plant from Total Energy at a price of 3 billion dollars. -
On October 26, 2023, ConocoPhillips (NYSE: COP) announced that it was considering making a takeover offer to Crown Rock, an oil producer in the Permian Basin. It was reported a week ago that Devon Energy (DVN) is targeting CrownRock as a potential acquisition target. -
In February 2024, ConocoPhillips is going to meet with the leasing FPSO supplier to prepare for the launch of the FEED competition of Malaysia's offshore Salam Datawali project. -
On May 30, 2024, ConocoPhillips (COP), an American oil giant, announced a final agreement to acquire the company in an all stock transaction Marathon Oil (MRO), with a transaction value of $22.5 billion, including net debt of $5.4 billion. This strategic move will immediately increase ConocoPhillips' earnings, cash flow and return on capital per share.
ConocoPhillips (COP) US equity investment
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