M&A Deal Summary

Chevron and ConocoPhillips Acquire Chevron Phillips Chemical Co

On July 1, 2000, Chevron and ConocoPhillips acquired chemicals company Chevron Phillips Chemical Co

Acquisition Highlights
  • This is Chevron’s 1st and ConocoPhillips’ 1st transaction in the Chemicals sector.
  • This is Chevron’s 1st and ConocoPhillips’ 1st transaction in the United States.
  • This is Chevron’s 1st and ConocoPhillips’ 1st transaction in Texas.

M&A Deal Summary
Date 2000-07-01
Target Chevron Phillips Chemical Co
Sector Chemicals
Buyer(s) Chevron
ConocoPhillips
Deal Type Joint Venture

Target

Chevron Phillips Chemical Co

The Woodlands, Texas, United States
Chevron Phillips Chemical Co LLC is a producer of olefins and polyolefins and a supplier of aromatics, alpha olefins, styrenics, specialty chemicals, piping, and proprietary plastics.

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Buyer(S) 2

Buyer

Chevron

San Ramon, California, United States
Category Company
Founded 1879
Sector Oil/Gas Exploration
Employees45,600
Revenue 196.9B USD (2023)
DESCRIPTION
Chevron office in downtown Houston, Texas.
Chevron office in downtown Houston, Texas.

Chevron is a fully integrated energy company. Its business includes petroleum operations, chemicals, mining operations, power generation and energy services. Chevron's exploration and production operations consists of exploration, development and production of crude oil and natural gas. Chevron was incorporated in 1879 and is based in San Ramon, California.

DEAL STATS #
Overall 1 of 19
Sector (Chemicals) 1 of 1
Type (Joint Venture) 1 of 1
State (Texas) 1 of 3
Country (United States) 1 of 16
Year (2000) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-12-30 Uinta Basin Producing Oil and Gas Assets

Utah, United States

Uinta Basin Producing Oil and Gas Assets comprises of oil and gas producing assets located in Utah.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2000-10-16 Texaco

White Plains, New York, United States

Texaco, Inc. is a refiner and retailer of gasoline and petroleum products. It was formed in 1901 in Beaumont, Texas.

Buy $36.0B
Buyer

ConocoPhillips

Houston, Texas, United States
Category Company
Founded 1917
Sector Oil/Gas Exploration
Employees9,500
Revenue 56.1B USD (2023)
DESCRIPTION
Entrance to ConocoPhillips' corporate campus in Houston, Texas.
Entrance to ConocoPhillips' corporate campus in Houston, Texas.

ConocoPhillips is an integrated energy company with operations and activities across the world. The Company's key focus areas include operating producing assets, executing major developments and exploring for new resources in promising areas. ConocoPhillips' portfolio includes resource-rich North American shale and oil sands assets; lower-risk legacy assets in North America, Europe, Asia and Australia; several major international developments; and a growing inventory of global conventional and unconventional exploration prospects. ConocoPhillips was incorporated in 1917 and is based in Houston, Texas.

DEAL STATS #
Overall 1 of 8
Sector (Chemicals) 1 of 1
Type (Joint Venture) 1 of 1
State (Texas) 1 of 6
Country (United States) 1 of 7
Year (2000) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2000-10-09 Dixie Pipeline

Roswell, Georgia, United States

Dixie Pipeline Company owns Dixie Pipeline, which is a major propane pipeline that transports propane from natural gas liquid (NGL) fractionators and refineries in Texas, Louisiana and Mississippi, to customers throughout the southeastern United States. The pipeline extends approximately 1,100 miles from Mont Belvieu, Texas, to near Raleigh, N.C. The pipeline includes a 204-mile lateral into Georgia.

Sell -
Mergr

Product

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