Our history
A long and proud history of finding and producing oil and gas.
Our history illustrates a relentless commitment to safety, a passion for innovation and an ability to adapt to a dynamic marketplace.
From the earliest discoveries of oil and the revolutionary improvements that followed to the technological advances that altered the course of history, ConocoPhillips has a long history of improving life for people and communities.
Present-2020
2024 |
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November 22, 2024 - The $22.5 billion all-stock transaction expands the company’s existing U.S. onshore portfolio in the Lower 48 and adds more than 2 billion barrels of resource. This includes high-quality, low cost of supply inventory adjacent to its leading U.S. unconventional position in the Eagle Ford, Bakken and Permian Basin and LNG capacity in Equatorial Guinea. The oil and gas and the exploration and production associated with Marathon Oil are now part of ConocoPhillips. |
2021 |
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ConocoPhillips acquires Shell Permian assets December 1, 2021 - ConocoPhillips completes its acquisition of Shell Enterprise LLC’s prolific Delaware basin position for $9.5 billion in cash. |
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January 15, 2021 - The all-stock $13.1 billion 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 oil and gas and the exploration and production associated with Concho are now part of ConocoPhillips. |
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2020 |
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Two Oil Discoveries in Norwegian Sea November/December 2020 – Two discoveries occur near the Heidrun Field; one estimated to contain 75-to-200 million barrels of recoverable oil equivalent, and the other containing gas condensate. Both are to be evaluated for possible development. |
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August 21, 2020 – ConocoPhillips acquires 140,000 net acres in this liquids-rich play, increasing our position to 295,000 net acres. |
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Sale of Australia-West Interests Completed May 27, 2020 – Completion of the sale to Santos of subsidiaries that held our Australia-West assets and operations. |
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Response to COVID-19/Oil Market Downturn March – April 2020 – Due to rapid changes in the market, we temporarily curtail much of our Lower 48 and Western Canada production, reduce capital and operating costs and suspend share repurchases. Curtailments later end in mid-2020 and repurchases resume in 2021. |
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2020 |
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March 2020 – Second-quarter production from Eagle Ford, Bakken and Permian reaches record 367,000 BOPD. |
ConocoPhillips acquires Marathon Oil Corporation
ConocoPhillips acquires Concho Resources
Montney Acreage Added
Sale of Two Lower 48 Assets Completed
Key Colors:
Black = Growth over time | Gray = Operational milestones | Red = Firsts (Oil, Production, etc) |
Teal = Discoveries | Blue = Global and community events