ConocoPhillips Company is an American multinational energy corporation
with its headquarters located in the
Energy Corridor district of
Texas in the United States. It is the world's largest
independent pure-play exploration and production company and is a
Fortune 500 company.
ConocoPhillips was created through the
merger of American oil companies
Conoco Inc. and Phillips Petroleum
Co. on August 30, 2002. In 2012,
ConocoPhillips spun off its
downstream assets as a new, and separate company, Phillips 66.
2.1 Exploration and production
Kashagan Field in Kazakhstan
4 Corporate structure
4.1 Board of Directors
5 Environmental record
6 See also
8 External links
Conoco and Phillips 66
Conoco Inc. was an American oil company founded in 1875 as the
Oil and Transportation Co. Based in Ogden, Utah, the
company was a coal, oil, kerosene, grease and candles distributor in
the West. Marland
Oil Co. (founded by exploration pioneer E. W.
Marland) later acquired the assets (subject to liabilities) of
Oil Co., or DC, merged by Bryan M. Metler, David L.
Kinney, and Justin J. Stockburn of Delta Constructors for a
consideration of 2,317,266 shares of stock. On June 26, 1899, Marland
Oil changed its name to Continental
Oil Co. and moved its headquarters
to Fargo, North Dakota. The acquisition gave
Conoco the red
bar-and-triangle logo previously used by Marland.
Conoco used the logo
between 1930 and 1970, when the current red capsule logo was adopted.
Conoco headquarters were in Ponca City until 1949, when it moved
to Houston, Texas. In 2002
Conoco Inc. and Phillips
whose headquarters were in nearby
Bartlesville, Oklahoma merged into
Numerous state corporation filings are identified "Continental Oil
Co." and "Continental
Oil Corp." and "Continental
Oil Co. of Texas" as
recorded with the
Texas Secretary of State and Delaware Secretary of
Merger of San Jacinto
Petroleum Corp. and Continental
is recorded in 1964 with Delaware Secretary of State.
ConocoPhillips began rebranding its (Union) 76 gas stations,
which Phillips had acquired from Tosco Corp. before the merger with
Conoco. The move prompted a petition campaign by fans hoping to save
the historic 76 orange ball signage.
In March 2006,
ConocoPhillips bought Wilhelmshavener
Raffineriegesellschaft mbH in Germany, and
Burlington Resources in the
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.
In 2007, the Chevron Corp. converted all of the
Conoco gas stations in
Mississippi to the
In late 2009, the company announced asset sales to increase investor
returns. Included are debt reduction and stock buy back. In March 2011
the program was enlarged up to $10 billion assets sales in the next
ConocoPhillips intends to implement a floating liquefied natural gas
facility by 2016–2019, and has completed quantitative risk analysis
of a design that will undergo pre-feed study in 2011.
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. On May 1, 2012, all midstream, downstream,
marketing and chemical operations were separated into a new company
named Phillips 66, headquartered in Houston. As a result,
ConocoPhillips continued its operations as an upstream (exploration
and production) company.
In April 2012,
ConocoPhillips sold its
Trainer Refinery to Monroe
Energy LLC, a subsidiary of Delta Air Lines.
In January 2013,
Conoco announced that it would sell its Rocky
Mountain assets to
Denbury Resources for $1.05 billion.
Conoco sold oil sands assets in Canada to
Cenovus Energy and
natural gas fields in the U.S. for a total of US$16 billion to help
reduce debt and fund US$6 billion share purchases. As a result, it
also led to a reduction of close to 30 percent of its proved oil and
Exploration and production
ConocoPhillips focuses solely on exploring for, developing and
producing oil and natural gas globally. The company manages its
operations through six operating segments, which are defined by
geographic region: Alaska, Lower 48 and Latin America, Canada, Europe,
Asia Pacific and Middle East, and Other International.
Kashagan Field in Kazakhstan
ConocoPhillips acquired an interest in 10.5 blocks in the
Caspian Sea off
Kazakhstan through the North
Caspian Sea Production
Sharing Agreement (NCSPSA). It currently owns 8.4% of the shares of
the consortium exploiting Kashagan oil field. However the company
seeks to reduce its non-core assets in order to use the cash for debt
reduction, fund its capital program, and dividend payments. On October
3, 2012, the Kazakh
Oil and Gas Minister told reporters that
ConocoPhillips has informed
Kazakhstan of their intention to sell
their shares. In November 26, in its biggest acquisition ever,
ONGC Videsh agreed to buy ConocoPhillips’ 8.4% stake in the Kashagan
oilfield for about US $5 billion. The stake buy is subject to approval
of governments of
Kazakhstan and India and also to other partners in
Caspian Sea field waiving their pre-emption rights.
Aerial view of the
The headquarters of
ConocoPhillips are located in the Energy Corridor
district of Houston, Texas. By 2002 the groups organizing the
merger had selected
Houston as the site of the headquarters. Governor
Frank Keating said that the move to
Journal Record stated that Archie Dunham, the CEO
Conoco Inc., "apparently highlighted the lack of direct
international air travel from Oklahoma as a key drawback for the
merged firm." The
ConocoPhillips headquarters, originally the
Conoco Inc., was formerly known as the Conoco
In 2018 the headquarters will move to Energy Center Four.
Board of Directors
Comprised as follows as of February 2017:
Richard Armitage, former
United States Deputy Secretary of State
Richard Auchinleck, former President and
CEO of Gulf Canada
CEO and Chairman of PPG Industries
James Copeland, Jr., former
CEO of Deloitte
John V. Faraci, former
CEO and Chairman of International Paper
Jody Freeman, Archibald Cox Professor at Harvard Law School
Gay Huey Evans, former Vice-Chairman of Investment Banking at Barclays
CEO and of
ConocoPhillips (Chairman of the Board)
Arjun Murti, former partner at Goldman Sachs
Robert Niblock, CEO, President, and Chairman of Lowe's
Harald Norvik, former CEO, President, and Chairman of Statoil
This section needs to be updated. Please update this article to
reflect recent events or newly available information. (November 2013)
On April 11, 2007, it became the first U.S. oil company to join the
U.S. Climate Action Partnership, an alliance of big business and
environmental groups. The partnership in January 2007 had advised
George W. Bush
George W. Bush that mandatory emissions caps would be needed
to reduce the flow of carbon dioxide and other heat-trapping gases
into the atmosphere. In 2007
ConocoPhillips announced it would spend
$150 million that year on the research and development of new energy
sources and technologies — a 50 percent increase in spending from
ConocoPhillips left the U.S. Climate Action
Partnership in February, 2010.
According to the Political Economy Research Institute, ConocoPhillips
ranked 13th among U.S. corporate producers of air pollutions.
In June 2011,
ConocoPhillips China Inc., a wholly owned subsidiary of
ConocoPhillips, was responsible for a series of oil spills at the
Penglai 19-3 oil field in Bohai Bay.
ConocoPhillips is a signatory participant of the Voluntary Principles
on Security and Human Rights.
Fossil fuels lobby
^ ConocoPhillps. "Company History". Retrieved 2008-09-06.
^ "Spinoff of
Phillips 66 Complete". www.piersystem.com.
Fortune 500 2009: Fortune 1000 Companies 1-100". CNN.
^ "ConocoPhillips, Form 8-K12G3, Filing Date Aug 30, 2002".
secdatabase.com. Retrieved Mar 28, 2013.
^ Helman, Christopher. "As
ConocoPhillips Spins Off Refining Assets,
Think Twice Before Buying The New Phillips 66". Forbes.
^ "Save the 76 Ball website". Save the 76 Ball.
^ "ConocoPhillips, Form 8-K, Current Report, Filing Date Mar 31, 2006"
(PDF). secdatabase.com. Retrieved Mar 28, 2013.
^ "ConocoPhillips, Form 10-Q, Quarterly Report, Filing Date Aug 3,
2006" (PDF). secdatabase.com. Retrieved Mar 28, 2013.
^ Editorial, Reuters. "$ Instrument_CompanyName $ Instrument_Ric Key
Developments - Reuters.com". U.S.
ConocoPhillips Pursuing Plan to Separate into Two Stand-Alone,
Publicly Traded Companies". piersystem.com/. July 14, 2011.
^ "ConocoPhillips, Form 8-K, Current Report, Filing Date May 2, 2012".
secdatabase.com. Retrieved Mar 28, 2013.
^ "Archived copy". Archived from the original on 2012-07-13. Retrieved
^ Burkhardt, Paul; Schlangenstein, Mary (June 15, 2012). "Delta CEO
Says Airline to Pressure Prices as Jet Fuel Seller". Bloomberg.
^ Thyagaraju Adinarayan (15 January 2013). "
Conoco to sell Rocky
Mountain assets to Denbury for $1.05 billion". Reuters.
^ McWilliams, Gary (20 Apr 2017). "
ConocoPhillips takes slow, steady
route in race for oil profits". Reuters. Retrieved 20 April
ConocoPhillips to Quit Kashagan
The Gazette of Central Asia. Satrapia. 3 October 2012.
^ "Indian OVL to Buy ConocoPhillips's Stake in Kashagan Field". The
Gazette of Central Asia. 27 November 2012.
^ "Contact Us". www.conocophillips.com. Retrieved October 1,
^ "Governor says
ConocoPhillips headquarters decision appears to be
final". Journal Record. January 23, 2002. Retrieved February 3,
^ "Write Conoco!". Archived from the original on February 19, 1997.
Retrieved 2017-04-20. CS1 maint: BOT: original-url status unknown
Conoco Inc. February 19, 1997. Retrieved on January 16, 2010.
Conoco World Headquarters Address"". Archived from the original on
November 1, 1996. Retrieved 2017-04-20. CS1 maint: BOT:
original-url status unknown (link)
Conoco Inc. November 1, 1996.
Retrieved on January 17, 2010.
^ Sarnoff, Nancy (2016-11-29). "
ConocoPhillips to leave headquarters
Energy Corridor location".
Houston Chronicle. Retrieved
^ "Board of Directors". ConocoPhillips.
^ John Porretto (April 11, 2007). "
ConocoPhillips joins climate
group". Seattle Post-Intelligencer. [permanent dead link]
^ Chesser, Paul (2010-02-24). "CHESSER: World cools toward warmists
They brought it on themselves with their fudged facts".
washingtontimes.com. Washington Times. Archived from the original on
2010-02-26. Retrieved 2010-02-26. Last week, three major corporations
- Conoco/Phillips, BP and Caterpillar - bailed out on the U.S. Climate
Action Partnership lobbyist collaboration.
Political Economy Research Institute
Political Economy Research Institute Archived 2016-05-22 at the
Portuguese Web Archive
ConocoPhillips China, Company Background".
^ "China oil spill to have long-term impact: report". Phys.org,
Science X network.
Media related to
ConocoPhillips at Wikimedia Commons
Business data for ConocoPhillips: Google Finance
Conoco/Phillips/76 promotional website
World Internet News: "Big
Oil Looking for a Government Handout", April
Subsea firm listing
"COP - ConocoPhillips: 2007 Integrated
Oil & Gas Outlook Part I",
Oil Co. stock advertisement, with drawing, Los Angeles
Sunday Times, February 11, 1900
Oklahoma Digital Maps: Digital Collections of Oklahoma and Indian
Denali Gas Pipeline
John A. Carrig
Archie W. Dunham
Ernest W. Marland
James J. Mulva
Conoco Soccer Stadium
Houston Rodeo Run
OPEC Reference Basket
Western Canadian Select
Price (of gasoline and diesel)
Integrated asset modelling
Seismic to simulation
Reflection seismology (Seismic inversion)
Completion (Squeeze job)
Directional drilling (Geosteering)
Drilling fluid (invasion)
Drill stem test
Petroleum fiscal regime
Production sharing agreements
Submersible pump (ESP)
Enhanced oil recovery
Enhanced oil recovery (EOR)
1973 oil crisis
1979 energy crisis
1980s oil glut
1990 oil price shock
2000s energy crisis
2010s oil glut
History of the petroleum industry
Oil market timelines
List of natural gas fields
List of oil fields
Gulf of Mexico
Western Canadian Sedimentary Basin
Oil shale gas
Companies and organisations
Royal Dutch Shell
PKN Orlen (Poland)
Saudi Aramco (Saudi Arabia)
Compañía Española de Petróleos
Port Harcourt Refining Company
Amec Foster Wheeler
Chicago Bridge & Iron Company
China Oilfield Services
Oil & Gas
National Oilwell Varco
International Association of
Oil & Gas Producers
International Energy Agency