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Gradually, BP began replacing Pennzoil at some of these sites in 2006 while retaining 7-Eleven (a Pennzoil in Ambridge, Pennsylvania, also converted to BP at the same time) while others were sold to private owners and became independent, unbranded locations. By the mid-2010s, Pennzoil was no longer selling gasoline.
In 1999 Pennzoil sold its mineral rights to El Paso Natural Gas. By 2011, there were 970 natural gas wells on the property, 840 of them in New Mexico and 130 in Colorado. [ 12 ] Although touting the coalbed methane production at Vermejo, as environmentally friendly, El Paso Natural Gas ran into public opposition when it attempted to exploit ...
United Gas Corporation was a major oil company from its inception in 1930 to its hostile takeover and subsequent forced merger with Pennzoil in 1968. [6] [7] [8] Headquartered in Shreveport, Louisiana, United and its major subsidiaries, Union Producing Company, United Gas Pipeline Company, Atlas Processing, UGC Instruments, and Duval Mining, performed integrated exploration, production ...
While Pennzoil was used as a trade name by other firms, by 1950, South Penn had acquired all of them and subsequently renamed itself to Pennzoil. The company was also one of the bidders for Getty Oil, which erupted into a legal battle between itself and Texaco, with Pennzoil gaining US $3 billion from Texaco after a settlement. [39]
Quaker State is an American brand of motor oils, owned by Shell USA, the US-based division of Shell plc.. The former Quaker State Oil Refining Company had been constituted in 1924 after the Eastern Refining Co. acquired rights to the Quaker State brand name to the Phinny Brothers Oil Company, which had been producing the Quaker lubricants since 1912, gaining reputation in the U.S. after a deal ...
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On November 19, 1985, Pennzoil won a US$10.53-billion verdict against Texaco, the largest civil verdict in US history up to that date. The court case sprang from Texaco having established a signed contract to buy Getty Oil after Pennzoil entered into an unsigned—yet binding—buyout contract with Gordon Getty. [30] In 1987, Texaco filed for ...
The company sold its remaining stock in Omega Proteine on December 1, 2006, leaving it with no active subsidiary. [29] The Glazer family sold its controlling stock of the Zapata Corporation to Philip Falcone's Harbinger Capital in 2009, [30] [31] and the company's name was changed to Harbinger Group Inc. with the ticker symbol HRG on the NYSE. [32]