M&A Deal Summary

ConocoPhillips Acquires Burlington Resources

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

Acquisition Highlights
  • 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.

M&A Deal Summary

Date 2005-12-13
Target Burlington Resources
Sector Oil/Gas Exploration
Buyer(s) ConocoPhillips
Deal Type Add-on Acquisition
Deal Value 35.6B USD

Target

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(S) 1

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 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