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The "Continental Oil and Transportation Company" was founded by Isaac Elder Blake in November 1875. [9] [10] Based in Ogden, Utah, the company distributed the recently discovered mineral resources of petroleum / oil (first found in August 1859 by Edwin Drake (1819-1880), in a well drilled at Oil Creek, near Titusville, (Crawford County), in the far northwestern corner of Pennsylvania) and its ...
In 1875, the "Continental Oil and Transportation Company" (acronym "Conoco") was founded in Ogden, Utah by Isaac Blake. [8] In 1885, Conoco was reincorporated as part of Standard Oil. [9] After the Supreme Court of the United States dissolved Standard Oil, Conoco became independent in 1913. [10] By 1929, it had become a fully integrated oil ...
In 2006, the company acquired assets from Chase Oil and formed Concho Resources Inc. In 2007, the company became a public company via an initial public offering. [2] In 2008, the company acquired Henry Petroleum for $584 million. [3] In 2010, the company acquired assets in the Permian Basin from Marbob Energy Corporation for $1.65 billion. [4]
May 30—ConocoPhillips and Marathon Oil just jumped on the merry-go-round of mergers that the energy industry has seen in recent months with ConocoPhillips having been the last of the major oil ...
Aug. 7—ConocoPhillips had a busy second quarter, progressing on its new Willow Project oilfield in the National Petroleum Reserve on the North Slope of Alaska, its $22.5-billion merger with ...
The oil patch is much different today than in 2020. Outsize profits have unleashed a frenzy of merger and acquisition (M&A) activity. But true to form, ConocoPhillips has been noticeably absent ...
Marathon Petroleum purchased its original 84,000 bpd Texas City Refinery from Plymouth Oil Company in 1962. What remains operating today is an integrated part of the Galveston Bay Refinery, nicknamed Bay Plant. It was established in 1931 by Republic Oil Refining Company and sold to Plymouth Oil Company in 1957. [2] In 2005, the refinery could ...
As per the agreement, Marathon Oil shareholders will receive 0.2550 ConocoPhillips shares for each share of Marathon Oil they hold. The acquisition price represents a 14.7% premium to the closing ...