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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 ...
Phillips 66 owns 13 refineries with a net crude oil capacity of 2.2 million barrels per day (350 × 10 ^ 3 m 3 /d), 10,000 branded marketing outlets, and 15,000 miles (24,000 km) of pipelines. It has 50 percent stake in DCP Midstream, LLC, a natural gas gatherers and processors with 7.2 billion cubic feet per day (200 × 10 ^ 6 m 3 /d) of ...
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 ...
Callaghan O'Hare/Bloomberg/Getty Images. Big Oil keeps doing big deals. ConocoPhillips said Wednesday it had agreed to buy Marathon Oil in an all-stock deal worth $22.5 billion, including about $5 ...
ConocoPhillips's plans to acquire independent oil and gas producer Marathon Oil in an all-stock deal for $22.5 billion including debt continues a recent string of deals in the energy space.
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]
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 ...