ConocoPhillips – Oil & Gas 360

ConocoPhillips announces Bill Bullock to retire after 39 years with the company

May 8, 2025

(Oil & Gas 360) – HOUSTON–(BUSINESS WIRE)–ConocoPhillips (NYSE: COP) today announced that W.L. (Bill) Bullock, executive vice president and chief financial officer, will retire from ConocoPhillips after 39 years of distinguished service. Andy O’Brien, currently senior vice president, Strategy, Commercial, Sustainability and Technology, will succeed Bill as chief financial officer, effective June 1, 2025. Andy will also retain responsibility for Strategy, Commercial

ConocoPhillips deal marks investment firm’s continued push into Texas’ Midland basin

May 5, 2025

(World Oil) – Rising Phoenix Capital, an investment firm specializing in oil and gas mineral royalty acquisitions, have announced a strategic purchase of mineral interests in Ector and Midland Counties, TX, operated by ConocoPhillips. This purchase strengthens the firm’s growing position in the core of the Midland basin, widely regarded as one of the most prolific energy-producing regions in the United

ConocoPhillips eyes sale of Oklahoma assets worth over $1 billion, sources say

April 2, 2025

(BOE Report) – ConocoPhillips is exploring the sale of oil and gas assets in Oklahoma that it inherited from its $22.5 billion takeover of Marathon Oil last year, people familiar with the matter said. The energy producer has hired investment bank Moelis & Co to run the sale process for the assets, the sources said, adding that the talks are at an early

New creditors’ battle emerges in Citgo auction reboot

March 28, 2025

(Investing) – HOUSTON – A U.S. federal judge trying to move ahead with an auction of shares in the parent of Venezuela-owned U.S. refiner Citgo Petroleum is dealing with a fresh dispute between creditors after a lowball starting bid was recommended in a reboot of the sale. The complex auction meant to repay 18 creditors for debt defaults and expropriations by

EIA forecasts Alaska crude oil production will grow in 2026 for the first time since 2017

March 19, 2025

(World Oil) – In its March 2025 Short-Term Energy Outlook, the U.S. Energy Information Administration (EIA) forecast crude oil production in Alaska will increase by 16,000 barrels per day (bpd) in 2026 to 438,000 bpd after remaining relatively flat in 2025. Two new oil developments in Alaska — the Nuna and Pikka projects — are expected to boost crude oil

ConocoPhillips to sell interest in Gulf of Mexico assets to Shell for $735 million

February 21, 2025

(World Oil) – ConocoPhillips will sell its interests in the Gulf of Mexico Ursa and Europa fields to Shell for $735 million, both companies confirmed today. ConocoPhillips continues to work towards a strategy of divesting noncore assets, while Shell looks to strengthen its deepwater portfolio. Full-year 2024 production associated with the ConocoPhillips’ 15.96% interest in the Ursa Field and 1% interest

ConocoPhillips completes acquisition of Marathon Oil Corporation

November 22, 2024

(Oil& Gas 360) – HOUSTON–(BUSINESS WIRE)–ConocoPhillips (NYSE: COP) today announced that it has completed its acquisition of Marathon Oil Corporation (NYSE: MRO). “This acquisition of Marathon Oil is a perfect fit for ConocoPhillips, adding to our deep, durable and diverse portfolio while meeting our strict financial framework,” said Ryan Lance, chairman and chief executive officer. “Marathon Oil adds high-quality, low cost of supply inventory

US oil and gas mergers continue at furious pace in Q2, says Enverus

July 30, 2024

U.S. News HOUSTON – U.S. oil and gas patch deals continued to run hot in the second quarter, topping $30 billion with big dollar tie-ups pushing values higher, according to data released on Tuesday by energy researcher Enverus. Blockbuster mergers, such as ConocoPhillips’ $22.5 billion offer for Marathon Oil, remain a mainstay even as U.S. lawmakers call on regulators to

Trinidad’s court reaffirms recognition of ConocoPhillips’ claim against Venezuela

July 19, 2024

Yahoo Finance Trinidad and Tobago’s High Court reaffirmed on Thursday a decision recognizing U.S. oil producer ConocoPhillips’ arbitration claim against Venezuela, which could freeze the Caribbean country’s payments to its neighbor for joint natural gas projects. In late May, the court’s original decision opened the door for ConocoPhillips to enforce in that country a $1.33 billion claim against Venezuela for

ConocoPhillips, Marathon Oil get second US FTC request over $22.5 billion deal

July 12, 2024

Yahoo Finance Top U.S. independent oil producer ConocoPhillips said on Friday it received a second request from the U.S. Federal Trade Commission for information on its proposed acquisition of rival Marathon Oil. ConocoPhillips said both companies received the requests on July 11 and are working with the FTC to review the merger. CONTEXT Conoco said in May it would pay

Oil eases as US crude, fuel stock builds bolster demand jitters- oil and gas 360

Venezuela representatives meet U.S. officials to discuss Citgo auction

June 5, 2024

Oil Price U.S. officials and lawmakers have recently met with Venezuelan opposition politicians and supervisors of state-owned refiner Citgo Petroleum, as Venezuela seeks to pause an ongoing court-ordered auction of shares, sources close to the discussions have told Reuters. The sale process of shares to pay creditors and claimants against Venezuela’s oil asset appropriation and debts owed by Citgo was launched by a

ConocoPhillips to acquire Marathon Oil Corporation in all-stock transaction; provides shareholder distribution update

May 29, 2024

Oil and Gas 360 MAY 29, 2024 Download .PDF Acquisition of Marathon Oil Corporation is expected to be immediately accretive to earnings, cash flows and return of capital per share. ConocoPhillips expects to achieve at least $500 million of run rate cost and capital savings within the first full year following the closing of the transaction. Independent of the transaction,

Premium Content