ConocoPhillips Company History Timeline
By January 2002, the groups organizing the merger had selected Houston as the site of the headquarters.
The company was founded on August 30, 2002 and is headquartered in Houston, TX.“
On August 30, 2002, Conoco Inc. and Phillips Petroleum Company, whose headquarters were in nearby Bartlesville, Oklahoma merged into ConocoPhillips.
Debt was reduced to $17.8 billion by the end of 2003.
In September 2004, the company invested $2 billion in Lukoil.
That year, the company began by building gas stations in Thailand under the Jet brand name, with a goal of having 260 retail outlets in place by the year 2004.
In 2005, ConocoPhillips began rebranding its (Union) 76 gas stations, which Phillips had acquired from Tosco Corp. before the merger with Conoco.
Future plans were to spend more than $2.5 billion in Malaysia through 2005, with plans for more than 200 retail outlets in the country.
In 2007, the Chevron Corp. converted all of the Conoco gas stations in Mississippi to the Texaco brand.
In late 2009, the company announced asset sales to increase investor returns.
In March 2011 the program was enlarged up to $10 billion assets sales in the next two years.
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.
In May 2012, ConocoPhillips completed the corporate spin-off of its downstream assets as Phillips 66.
In 2012, the company began the process of divesting onshore and offshore assets in Nigeria.
In January 2013, Conoco announced that it would sell its Rocky Mountain assets to Denbury Resources for $1.05 billion.
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.
In June 2017, the company agreed to sell assets in the Barnett Shale for $305 million.
In April 2019, the company sold a 30% stake in the Greater Sunrise Fields to the government of Timor-Leste.
For the 2019 Awards in Predefined Areas (APA) on the Norwegian continental shelf (NCS), ConocoPhillips was awarded three operatorships and ownership interests in a total of five production licenses.
May 27, 2020 – Completion of the sale to Santos of subsidiaries that held our Australia-West assets and operations.
In May 2020, the company sold its assets in Northern Australia to Santos Limited for $1.39 billion.
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.
The acquisition of Concho Resources was confirmed in January 2021, after shareholders from both companies announced the approval.
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.
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| Company Name | Founded Date | Revenue | Employee Size | Job Openings |
|---|---|---|---|---|
| BP America Inc | 1909 | $183.5B | 70,100 | - |
| Apache | 1954 | $12.1B | 3,420 | 41 |
| Halliburton | 1919 | $20.3B | 55,000 | 797 |
| Burlington Resources Oil & Gas Co LP | 1981 | $1.5B | 2,200 | - |
| Devon Energy | 1971 | $19.2B | 1,400 | 22 |
| Hess | 1920 | $11.3B | 1,621 | 67 |
| Marathon Oil | 1887 | $8.0B | 1,672 | 18 |
| Chesapeake Energy | 1989 | $11.7B | 1,300 | 24 |
| The Louisiana Land and Exploration Company LLC | 2010 | $280.0M | 581 | - |
| Calpine | 1984 | $10.1B | 2,256 | 146 |
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ConocoPhillips may also be known as or be related to ConocoPhillips, ConocoPhillips Company, Conocophillips, Conocophillips Shipping LLC and Continental Oil Company.