Add-on Acquisition • Oil/Gas Exploration

ConocoPhillips Acquires Burlington Resources

On December 13, 2005, ConocoPhillips acquired oil/gas exploration company Burlington Resources for 35.6B USD

Acquisition Context
  • This is ConocoPhillips’ 2nd transaction in the Oil/Gas Exploration sector.
  • This is ConocoPhillips’ largest (disclosed) transaction.
  • This is ConocoPhillips’ 4th transaction in the United States.
  • This is ConocoPhillips’ 3rd transaction in Texas.

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M&A Deal Summary

Date December 13, 2005
Target Burlington Resources
Sector Oil/Gas Exploration
Buyer(s) ConocoPhillips
Deal Type Add-on Acquisition
Deal Value 35.6B USD

Target Company

Burlington Resources

Houston, Texas, United States
Burlington Resources was an oil/gas exploration company spun off of Burlington Northern Railroad in 1988.
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Buyer Overview 1

Buyer

ConocoPhillips

Houston, Texas, United States

Category Company
Founded 1917
Sector Oil/Gas Exploration
Employees11,800
Revenue 54.7B USD (2024)
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. ConocoPhillips was incorporated in 1917 and is based in Houston, Texas.


Deal Context for Buyer #
Overall 4 of 8
Sector: Oil/Gas Exploration 2 of 5
Type: Add-on Acquisition 3 of 5
State: Texas 3 of 6
Country: United States 4 of 7
Year: 2005 1 of 1
Size (of disclosed) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-04-01 ConocoPhillips - Midstream Assets

Houston, Texas, United States

ConocoPhillips - Midstream Assets consists of an integrated gathering and processing system, covering approximately 2,000 square miles from Lake Charles to Lafayette, with approximately 700 miles of pipeline and processing capacity of about 260 MMcfd and 14 MBD of NGL raw mix production.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-08-21 Sweeny Cogeneration

Houston,, Texas, United States

Sweeny Cogeneration engages in the generation of electricity, It is a nominal 450-megawatt cogeneration plant.

Buy $80M