About the Company
ConocoPhillips is a multinational exploration and production (E&P) company engaged in hydrocarbon exploration. Headquartered in Texas, United States, the company operates internationally across fifteen countries. It has domestic production units spanning across Alaska, Eagle Ford Group, the Gulf of Mexico, the Anadarko Basin, and other key regions. Alongside the US, it also operates in Canada, Timor-Leste, Australia, Indonesia, Qatar, Libya, China and Malaysia. As of 2020, the company held a total proved reserves of 5.3 billion barrels of oil equivalent (BOE).
Continental Oil Company (Conoco) was established as the Continental Oil and Transportation Company in 1875. It was reincorporated with the new name as part of the Standard Oil Company and Trust in 1885.
In 1913, Standard Oil was dissolved, and Conoco, Inc. became an independent, fully integrated oil company. It distributed coal, grease, oil and kerosene at the time. In 1929, the company merged with the Marland Oil Company. In 2002, Conoco, Inc. and Phillips Petroleum Company merged their businesses, thus forming ConocoPhillips. ConocoPhillips shares trade on the New York Stock Exchange (NYSE) under its ticker symbol of “COP''. COP shares are also components of the S&P 500 index as well as the S&P 100 index. In 2004, ConocoPhillips invested $2 billion in The PJSC Lukoil Oil Company, a multinational energy corporation based in Moscow, Russia. It acquired Wilhelmshavener Raffineriegesellschaft mbH, a German oil refinery, in 2006. The same year, COP bought-off Burlington Resources in a transaction of $35 billion in cash and stock.
It completed the acquisition of the Montney acreage in Canada for $390 million on August 21st, 2020. Subsequently, on October 19th, 2020, ConocoPhillips announced an agreement to acquire Concho Resources, its industry competitor, in an all-stock transaction of $9.7 billion.
COP is a Fortune 500 company. It ranked 93rd on this list in 2020. Forbes ranked the company 201st on its list of Global 2000 2020. ConocoPhillips is also ranked amongst the companies on Forbes’ list of Best Employers for Diversity 2020.;
|Industry||Oil & Gas E&P|