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ConocoPhillips Company History Timeline

1877
Operations were later expanded to include Denver and San Francisco, and in 1877 the company was reincorporated in California.
1888
In 1888 Continental eliminated the need for transporting products from the East Coast by acquiring a minority interest in United Oil Company with production and refining interests in Colorado.
1893
In 1893 Blake resigned, having become bogged down in personal debt due to heavy investments in railroads and other ventures.
1899
On June 26, 1899, Marland Oil changed its name to Continental Oil Co. and moved its headquarters to Fargo, North Dakota.
1900
By 1900, Continental was heavily involved in the marketing of kerosene, although its product line had been expanded to include lamps, cooking stoves, ovens, and a variety of household and industrial oils.
1903
1903 Brothers Frank and L.E. Phillips form the Anchor Oil and Gas Company.
1905
After a struggle, Frank Phillips, joined by L.E., finally began to make money from oil in 1905.
1907
In 1907 Continental purchased the Denver office building that housed its sixth-floor headquarters and renamed it the Continental Oil Building.
1908
E.W. Marland, a Pittsburgh attorney turned oil wildcatter, had come to Oklahoma in 1908 and a year later discovered oil on Indian burial grounds near Ponca City.
1913
1913 Following the United States Supreme Court-ordered breakup of Standard Oil, Continental Oil becomes an independent company once again.
After the United States Supreme Court dissolved the Standard Oil Company, the Conoco became independent in 1913.
1914
1914 Continental builds its first gas station.
Continental tapped into the growing market for automobile gasoline in 1914 and built its first service station.
1916
1916 Continental diversifies into oil production with the purchase of United Oil Company.
1917
1917 The Phillips brothers found Phillips Petroleum Company to acquire Anchor Oil and Gas headquarters are established in Bartlesville, Oklahoma.
1919
1919 Continental adopts a new trademark featuring the word Conoco.
1920
Marland blamed the company's increasing liabilities on Morgan's bankers, who had forced him to sell oil to Standard, vetoed pipeline plans, and stymied expansion during the mid-1920s.
1923
In 1923, that financing approached Marland when John Pierpont Morgan of J.P. Morgan Co. offered to become Marland Oil's banker.
1924
In 1924 C.E. Strong, who had worked his way up through the Continental accounting department, was elected president and chief executive officer.
1926
By 1926 Continental's assets topped 80 million, including 530 miles of pipeline, six refineries, and marketing operations ranging through 15 states.
In 1926 Marland negotiated the right to explore for oil in Canada on land concessions owned by the Hudson's Bay Company of Canada.
The company's research into the uses of natural gas received further impetus in 1926, when it won a patent infringement suit brought against it by Union Carbide over Phillips's process for separating hydrocarbon compounds.
1927
1927 Phillips Petroleum enters the refining and marketing businesses, opening its first gas station in Wichita, Kansas, under the Phillips 66 brand name.
In 1927, it began operating a refinery near the Texas town of Borger.
1931
In 1931 Phillips posted a 5.7 million deficit in its first ever loss-making year.
1932
In 1932 Continental entered the Midwest through the acquisition of 119 service stations and 43 bulk plants.
1933
In 1933 the Sealand Petroleum Company in the United Kingdom, formed seven years earlier by Marland, was sold and the following year Hudson's Bay's operations were shut down.
1941
Refinery operations were expanded in 1941 and a new 4.5 million refinery was opened in Lake Charles, Louisiana.
1943
The plant went online in mid-1943 and began producing high-octane jet gasoline.
1946
In 1946 a new era of oil exploration was launched when Continental joined with three other oil companies in developing Laniscot I, the world's pioneer offshore exploration boat.
1947
McCollum's aggressive exploration program soon led to the 1947 acquisition of oil leases for 209,000 acres in the Gulf of Mexico.
1948
1948 Phillips Chemical Company is formed as a subsidiary.
1949
The Conoco headquarters were in Ponca City until 1949, when it moved to Houston, Texas.
1950
Continental celebrated its 75th anniversary in 1950 by breaking ground for a 2.25 million Ponca City research laboratory and relocating its headquarters from Ponca City to Houston.
Frank Phillips died in 1950 and Adams, long his heir-apparent, succeeded him as chairman and CEO. Under Adams, Phillips continued to focus on its interest in natural gas and was the nation's largest producer in the 1950s.
1952
In 1952 Continental acquired interests in 1,390 miles of pipeline, including the new 1,080-mile line from Wyoming oilfields to an important refining center in Wood River, Illinois.
1957
Continental's interest in overseas exploration grew throughout the decade, and by 1957 the company held exploratory concessions for nearly 50 million acres outside the United States, including land in Libya, Guatemala, and Italian Somaliland.
1960
Phillips's practice of licensing its patents overseas without acquiring an interest in the new ventures had yielded royalties but no growth so in 1960 the company took a 50 percent interest in a French carbon black plant using Phillips technology.
1962
Annual sales topped 1 billion in 1962 and diversification moves followed.
1963
In 1963, Continental acquired American Agricultural Chemical Company Agrico , a major manufacturer of plant foods and agricultural chemicals.
1964
In 1964 Andrew W. Tarkington, a former executive vice-president, was named president of Continental.
In 1964 it acquired packaging manufacturer Sealright Inc. as part of its move into plastics.
Merger of San Jacinto Petroleum Corp. and Continental Oil Corp. is recorded in 1964 with Delaware Secretary of State.
1966
Instead, Phillips acquired the West Coast properties of Tidewater Oil Company in 1966 for 309 million.
1967
Learned retired in 1967 and was succeeded as CEO by William Keeler.
1969
1969 Phillips Petroleum makes its biggest discovery, the Greater Ekofisk field under the Norwegian North Sea.
John G. McLean, another former executive vice-president, was named president and CEO in 1969, replacing Tarkington, who was named vice-chairman of the board.
In 1969 Phillips made an unsuccessful offer to acquire Amerada Petroleum Corporation, a major crude producer with no marketing operations.
1972
In 1972 he replaced McCollum, who had retired as company chairman.
1973
Keeler retired in 1973 and was succeeded as CEO by President William Martin.
In 1973 Phillips was one of the first and most prominent United States corporations to be accused of making an illegal contribution to President Richard Nixon's reelection campaign.
1974
In March 1974, Howard W. Blauvelt was named to fill the post of president, which McLean had left vacant when he assumed the chairmanship.
Conoco Coal Development Company, a wholly owned subsidiary, was formed in 1974 to coordinate research and long-range planning for the production of synthetic fuels made from coal.
1975
That year, Ralph E. Bailey was named president, replacing Kircher who remained deputy chairman, a post to which he had been appointed in 1975.
1977
In 1977 Phillips's Bravo platform in the Ekofisk field blew out during routine maintenance and spewed oil into the North Sea for eight days.
1979
1979 Continental Oil changes its name to Conoco Inc.
Blauvelt resigned as chairman and CEO in 1979 and was replaced by Bailey in both positions.
1980
In 1980 Conoco purchased Globe Petroleum Ltd., with 220 retail outlets in the United Kingdom, and entered into a second exploration venture with DuPont.
1981
1981 To fend off hostile takeovers, Conoco agrees to be acquired by E.I. du Pont de Nemours and Company DuPont for 7.4 billion.
In 1981 the company announced that it would build a new world headquarters in Houston for its petroleum and chemical operations.
1982
In 1982 Phillips's fortunes revived somewhat when a joint exploration venture with Chevron found substantial reserves under the Santa Maria Basin, off the coast of California.
1983
1983 General American Oil Company is acquired by Phillips Conoco's headquarters are shifted to Wilmington, Delaware.
By 1983 DuPont had increased its output of ethylene, a petrochemical feedstock used in making polyethylene, from 850 million pounds annually to three billion pounds.
1984
1984 Phillips fends off a takeover attempt by T. Boone Pickens, Jr.
In 1984 the company began operating the world's first tension leg well platform for deep-sea oil exploration in the North Sea, with capabilities of producing oil under 2,000 feet of water.
In 1984 Phillips acquired Aminoil, Inc. and Geysers Geothermal Company from R.J. Reynolds Industries for about 1.7 billion.
1985
In January 1985 Conoco joined four other oil companies in a 312 million partnership to produce oil in Alaska.
In January and February 1985, financiers Irwin Jacobs, Ivan Boesky, and Carl Icahn all bought up large blocks of Phillips stock.
1985 Phillips fends off a takeover attempt by Carl Icahn, running debt up to 8.9 billion in the process massive restructuring commences.
1987
1987 Conoco moves its headquarters back to Houston.
In 1987 Bailey retired as chairman and his position was eliminated.
1989
These hopes received a setback in October 1989, however, when an explosion occurred at Phillips's plastics plant in Pasadena, Texas, killing 23 people and causing 500 million in damage.
In 1989, after a two-year lapse, Conoco reopened its oilfields in Alaska.
1991
In 1991 the company formed a joint venture in Russia--in that country's largest oil investment by a foreign country to date--to drill oil in the Russian Arctic.
1992
In 1992 Phillips reorganized its operations into strategic business units, which were given greater autonomy and more profit and loss responsibility.
Phillips planned to sell 51 percent of GPM through an IPO to raise funds to further reduce the debt load, but the poor energy market of early 1992 forced Phillips to cancel the IPO.
1993
Meanwhile, also in Asia, Conoco began in 1993 to develop refining and marketing operations as a start toward capturing part of the region's fast-growing petroleum market.
1994
Then in 1994 Conoco entered a joint venture holding a 40 percent stake with Petronas, the national oil company in Malaysia, and Statoil of Norway to construct a 100,000 barrel per day, 1.1 billion refinery in Malaysia.
Wayne Allen was promoted from president and COO to chairman and CEO in 1994.
Meantime, international exploration efforts led to the company's first production of oil in China in 1994 and a major gas discovery in the Timor Sea located between East Timor and Australia.
1995
In the spring of 1995, DuPont paid 8.8 billion to repurchase all the shares Seagram then held, leaving a huge debt load behind.
1996
So-called subsalt production in the Gulf began in late 1996.
1998
Commercial production at Britannia began in August 1998.
Meanwhile, the company's joint venture refinery in Malaysia came on line in 1998.
Meantime, Phillips in 1998 made its largest discovery since Ekofisk in a field in Bohai Bay, off the northeastern coast of China.
1999
1999 DuPont divests its remaining 70 percent interest in Conoco.
During the second half of 1999 James J. Mulva took over as chairman and CEO from the retiring Allen.
2001
2001 Phillips acquires Tosco Corporation, a major United States refiner and gasoline retailer, for 7.36 billion Conoco acquires Calgary-based Gulf Canada Resources Ltd. for 4.33 billion.
2002
The company was founded on August 30, 2002 and is headquartered in Houston, TX.
2003
The biggest divestment came in December 2003 when the company sold Circle K Corp., an operator of more than 1,650 convenience stores gasoline stations that had come to Phillips through its acquisition of Tosco.
Debt was reduced to 17.8 billion by the end of 2003.
2004
The company announced that it planned to sell 3 billion to 4 billion of assets by the end of 2004 to rein in costs and to cut the heavy long-term debt load of nearly 19 billion.
2006
On May 10, 2006, Richard Armitage, former deputy-secretary of the United States State Department, was elected to the board of directors of the ConocoPhillips oil company.
2009
In late 2009, the company announced asset sales to increase investor returns.
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.
2013
In January 2013, Conoco announced that it would sell its Rocky Mountain assets to Denbury Resources for 1.05 billion.
2020
May 27, 2020 Completion of the sale to Santos of subsidiaries that held our Australia-West assets and operations.
August 21, 2020 ConocoPhillips acquires 140,000 net acres in this liquids-rich play, increasing our position to 295,000 net acres.
November December 2020 Two discoveries occur near the Heidrun Field one estimated to contain 75-to-200 million barrels of recoverable oil equivalent, and the other containing gas condensate.
2021
January 15, 2021 - The transaction vastly expands the company s presence in the Permian, the world s largest oil field, adding substantial resources and strengthening its competitive advantages in unconventional development.
RT cop newsroom NEWS RELEASE ConocoPhillips Reports First-Quarter 2021 Results Declares Quarterly Dividend Announces Debt-Reduction Pl.
Founded
2012
Company Founded
Headquarters
Houston, TX
Company Headquarter
Founders
Frank Phillips
Company Founders

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