ConocoPhillips, which is repositioning itself as a pure-play exploration and production (E&P) company, said its spun-off downstream company is to be named Phillips 66 and will house the refining, marketing, midstream and chemicals businesses. The repositioning is expected to be completed in 2Q2012; ConocoPhillips plans to file preliminary paperwork within the next week (see Daily GPI, Oct. 27). Both companies would be headquartered in Houston but would maintain a “significant” presence in Oklahoma, where the predecessor company was founded. Bartlesville, OK, is to be the global center for Phillips 66 technology, as well as the site of transaction services organizations for both companies. The ConocoPhillips E&P technology organization would remain in Houston.
Tag / production
Subscribeproduction
Articles from production
SEAB Not Pleased With Shale Progress
Everyone involved in shale gas development needs to do a better job, the Secretary of Energy Advisory Board (SEAB) subcommittee on shale gas production said in its final report.
Thousands of Louisiana Chemical Industry Jobs Seen in Shales
More than 35,000 manufacturing jobs could be created in Louisiana thanks to affordable supplies of natural gas from shale plays, American Chemistry Council (ACC) CEO Cal Dooley said.
Sinopec Takes Stake in Canada’s Gas Patch
China’s largest producer, Sinopec International Petroleum Exploration and Production Corp., is grabbing access to Canada’s unconventional plays in northeastern British Columbia and the Deep Basin of Alberta through a C$2.2 billion cash deal with Calgary’s Daylight Energy Ltd.
China’s Sinopec to Pay C$2.2B for Calgary’s Daylight
A subsidiary of China’s largest oil and gas producer, Sinopec International Petroleum Exploration and Production Corp., Sunday agreed to pay C$2.2 billion in cash to acquire Calgary independent Daylight Energy Ltd.
Sinopec Takes Stake in Canada’s Unconventional Gas Patch
China’s largest producer, Sinopec International Petroleum Exploration and Production Corp., is grabbing access to Canada’s unconventional plays in northeastern British Columbia and the Deep Basin of Alberta through a C$2.2 billion cash deal with Calgary’s Daylight Energy Ltd.
Marathon Evaluating Sale of GOM Stakes
Marathon Oil Corp., which recently completed the spinoff of its refining arm to concentrate on exploration and production, is evaluating whether to sell some of its interests in the Gulf of Mexico (GOM), a spokesperson confirmed Wednesday.
Rockies Producers Want Faster BLM Leasing
Rockies exploration and production (E&P) companies intend to work more closely with BLM to remove uncertainty surrounding oil and gas leasing activity in many areas in the region, an official with the Denver-based Western Energy Alliance (WEA) told NGI Thursday.
Smart Grid Planning Incomplete Until Shale Boom Fully Understood
As the natural gas landscape continues to be transformed by booming shale production and renewables emerge on a parallel path, gas industry stakeholders are increasingly focused on the concept of a “smarter,” more flexible gas delivery system along the lines of the electric industry smart grid. Eventually the two need to coalesce, according to a Gas Technology Institute (GTI) technical expert focused on the subject.
Oilfield Services ‘Bright Spot’ in Economic Picture
Rising exploration and production (E&P) budgets worldwide, in combination with strong oil prices, will drive “robust demand” for oilfield services in North American unconventional oil and natural gas shale plays, as well as in international arenas, according to a special study by IHS Inc.
