Key Developments: ConocoPhillips (COP)

COP on New York Consolidated

70.13USD
24 Dec 2014
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Latest Key Developments (Source: Significant Developments)

Statoil wins deepwater oil license off Myanmar with ConocoPhillips -Reuters
Wednesday, 26 Mar 2014 04:43am EDT 

Statoil ASA:Statoil has won license to explore for oil and gas in a deepwater block offshore Myanmar together with ConocoPhillips-Reuters.  Full Article

Oando Energy Resources Inc extends completion date for acquisition of Nigerian Upstream Oil and Gas Business of ConocoPhillips
Sunday, 2 Mar 2014 07:00pm EST 

Oando Energy Resources Inc:Says that the outside date for completion of the proposed acquisition of the Nigerian Upstream Oil and Gas Business of ConocoPhillips has been extended from Feb. 28 to March 31.  Full Article

ConocoPhillips announces quarterly dividend
Wednesday, 5 Feb 2014 10:45am EST 

ConocoPhillips:Says it has declared a quarterly dividend of $0.69 per share, payable Mar. 3, 2014, to stockholders of record at the close of business on Feb. 18, 2014.  Full Article

Oando Plc secures funding for acquisition of Nigerian upstream oil and gas business of Conocophillips
Monday, 3 Feb 2014 02:20am EST 

Oando Plc:Refers to the announcement made earlier, it has, subject to, amongst other things, TSX approval, secured funding for the closure of the acquisition of the Nigerian Upstream Oil and Gas Business of ConocoPhillips (the ConocoPhillips Acquisition).Says it currently estimates that the net purchase price payable to complete the ConocoPhillips Acquisition will be about $1.05 bln (Net Purchase Price).Says it expects to fund payment of the Net Purchase Price using funds from the corporate facility and reserve-based loan agreement with third party lenders, proceeds from the proposed private placement and a convertible loan from Oando Plc.Says pursuant to an amendment agreement executed with ConocoPhillips earlier on Feb. 03, Oando Energy Resources and ConocoPhillips agreed to extend the outside date for completion of the ConocoPhillips Acquisition from Jan. 31 to Feb. 28 (Outside Date).Says as part of this agreement, OER will pay an additional $50 mln towards the acquisition for a total deposit of $500 mln.  Full Article

ConocoPhillips issues FY, Q1 2014 production guidance
Thursday, 30 Jan 2014 07:00am EST 

ConocoPhillips:Expects to deliver 3 pct. to 5 pct. production growth in fiscal 2014.Says excluding Libya, the company's fiscal 2014 production outlook is unchanged at about 1,550 MBOED.Sees first-quarter 2014 production from continuing operations is expected to be 1,490 MBOED to 1,530 MBOED, which excludes Libya.  Full Article

Statoil ASA wins exploration license off northeast Greenland with ConocoPhillips and Nunaoil-Reuters
Saturday, 21 Dec 2013 06:23am EST 

Statoil ASA:Statoil was awarded a license to explore for oil in block 6 off northeast Greenland, in the Arctic Ocean, along with its partners ConocoPhillips and Nunaoil, the Norwegian company said late on Dec. 20-Reuters.Statoil will be operator of the block and will hold a 52.5 pct stake.ConocoPhillips will have 35 pct and Greenland's national oil company, Nunaoil, will hold 12.5 pct, Statoil said in a statement.The exploration period of the license runs for 16 years.  Full Article

BP Plc announces oil find in the Gulf of Mexico at prospect co-owned with ConocoPhillips
Wednesday, 18 Dec 2013 02:11am EST 

BP Plc:Says it has made an oil discovery at its Gila prospect, which it co-owns with ConocoPhillips, in the deepwater United States Gulf of Mexico.Says the Gila discovery was made by an exploration well on Keathley Canyon Block 93, about 300 miles southwest of New Orleans, in about 4,900 feet of water.Says appraisal drilling, including completion of drilling through the Paleocene section, will be required to determine the size and potential commerciality of the discovery.  Full Article

ConocoPhillips and group of oil, gas companies join seismic acquisition project in Barents Sea
Monday, 9 Dec 2013 07:00pm EST 

Statoil ASA:Says a group comprised of 17 oil and gas companies has established a project for joint seismic acquisition in the southeastern Barents Sea and Statoil is the operator of the project.Says the companies taking part from the beginning are BP Plc, Chevron Corp, ConocoPhillips, Det norske oljeselskap ASA, Eni SpA, GDF Suez SA, Idemitsu Kosan Co, NK Lukoil OAO, Lundin Petroleum AB, Norske Shell, PGNiG, Repsol SA, Spike, Statoil, Suncor Energy Inc, VNG and Wintershall.Says at the request of the Norwegian Ministry of Petroleum and Energy (MPE), the industry, via the Norwegian Oil and Gas Association, has taken the initiative to jointly acquire seismic 3D data from the blocks in the southeastern Barents Sea.Says the blocks will be announced in the 23rd licensing round for the Norwegian continental shelf (NCS) in 2014.Says this is the first new area on the NCS to be opened since 1994.Says 30 companies showed interest in participating in such a collaboration.Says when the authorities circulate the 23rd round nominated blocks for public consultation, other oil companies will get a new opportunity to engage in the project.Says it is expected that several companies will make use of this offer.Says the project will immediately initiate a tender process for the seismic acquisition.Says the plan is for the seismic surveys to start in Apr. 2014 and conclude in the autumn of the same year.  Full Article

Oando Energy Resources Inc provides an update on acquisition of ConocoPhillips Nigerian business
Thursday, 28 Nov 2013 09:13pm EST 

Oando Energy Resources Inc:Enters into an amendment agreement with ConocoPhillips in relation to the proposed acquisition by Oando Energy Resources of the Nigerian upstream oil and gas business of ConocoPhillips.Says the proposed acquisition comprises the indirect acquisition of all of the shares of Phillips Oil Company Nigeria Ltd (POCNL), Phillips Deepwater Exploration Nigeria Ltd (PDENL) and Conoco Exploration & Production Nigeria Ltd (collectively, the ConocoPhillips Acquisition).Says pursuant to the amendment agreement, Oando Energy Resources and ConocoPhillips agreed to extend the completion of the ConocoPhillips Acquisition form Nov. 30, 2013 to Jan. 31, 2014 (the outside date).Says OER will increase the deposit for the acquisition of the shares of PDENL by $15 million, and has agreed to pay the increased deposit amount to ConocoPhillips by no later than Dec. 6, 2013.Says as consideration for the extension of the outside date, the purchase price of the shares of POCNL will be increased by $10 million per month for the period from Dec. 1, up to but excluding the outside date of Jan. 31, 2014.Says a result of the amendments referred to above, the net purchase price payable to complete the ConocoPhillips Acquisition is estimated to be approximately $1.23 billion.  Full Article

ConocoPhillips completes sale of algeria business unit
Wednesday, 27 Nov 2013 08:30am EST 

ConocoPhillips:Says it has completed the transaction with Pertamina for the sale of its Algeria business unit for a total sales price of $1.75 billion.Says which resulted in proceeds of $1.65 billion, including customary adjustments.Says proceeds will be available for general corporate purposes, including investments in the company's organic growth programs.  Full Article

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