Burlington Resources

Burlington Resources Inc. was a company engaged in hydrocarbon exploration. In 2006, the company was acquired by ConocoPhillips.

Burlington Resources Inc.
IndustryPetroleum industry
Founded1988 (1988)
DefunctMarch 31, 2006 (2006-03-31)
FateAcquired by ConocoPhillips
HeadquartersHouston, Texas
Key people
Bobby S. Shackouls, President & CEO
RevenueIncrease $7.587 billion (2005)
Increase $2.710 billion (2005)
Total assetsIncrease $19.225 billion (2005)
Total equityIncrease $8.935 billion (2005)
Number of employees
2,416 (2005)
Footnotes / references
[1]

History

In 1988, the company was formed to own the resource assets of Burlington Northern Railroad. The company became a public company.

In 1989, the company spun off Plum Creek Timber.[2]

In 1997, the company acquired Louisiana Land & Exploration, gaining interest in properties in the Gulf of Mexico.[3]

In 1999, the company acquired Poco Petroleums, gaining properties in the Western Canadian Sedimentary Basin.[4] The company also acquired ARCO's operations in Ecuador.[5]

In 2001, the company acquired Canadian Hunter Exploration, expanding its base in Canada.[6]

In 2003, the company started production in Algeria.[7]

In 2004, the company received approval to develop a gas field in China.[8]

In 2006, the company was acquired by ConocoPhillips.[9]

References
  1. "Burlington Resources Inc. 2006 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. Hayes, Thomas C. (April 14, 1989). "Burlington Resources Plans Sale". The New York Times.
  3. "LOUISIANA LAND & EXPLORATION". Chicago Tribune. Bloomberg News. July 18, 1997.
  4. "Burlington Resources to buy Poco Petroleums". Oil & Gas Journal. August 23, 1999.
  5. "Burlington Resources Inc. to Acquire ARCO's Ecuador Operations, Other Latin America Exploration Rights" (Press release). Globe Newswire. October 26, 1999.
  6. Sidel, Robin (October 9, 2001). "Burlington Resources Agrees to Buy Canadian Gas Firm for $2.08 Billion". The Wall Street Journal.
  7. "Burlington Resources begins oil production from Algeria's MLN field, resumes Madden field production". Oil & Gas Journal. July 8, 2003.
  8. "Burlington Resources Receives Approval to Develop China's Bajiaochang Gas Field" (Press release). Business Wire. February 26, 2004.
  9. "ConocoPhillips Completes Acquisition of Burlington Resources" (Press release). Business Wire. March 31, 2006.
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