Burlington Resources
Burlington Resources Inc. was a company engaged in hydrocarbon exploration. In 2006, the company was acquired by ConocoPhillips.
 | |
| Industry | Petroleum industry |
|---|---|
| Fate | Acquired by ConocoPhillips |
| Founded | 1988 |
| Defunct | March 31, 2006 |
| Headquarters | Houston, Texas |
Key people | Bobby S. Shackouls, President & CEO |
| Revenue |  $7.587 billion (2005) |
| $2.710 billion (2005) | |
| Total assets | $19.225 billion (2005) |
| Total equity | $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
- "Burlington Resources Inc. 2006 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
- Hayes, Thomas C. (April 14, 1989). "Burlington Resources Plans Sale". The New York Times.
- "LOUISIANA LAND & EXPLORATION". Chicago Tribune. Bloomberg News. July 18, 1997.
- "Burlington Resources to buy Poco Petroleums". Oil & Gas Journal. August 23, 1999.
- "Burlington Resources Inc. to Acquire ARCO's Ecuador Operations, Other Latin America Exploration Rights" (Press release). Globe Newswire. October 26, 1999.
- Sidel, Robin (October 9, 2001). "Burlington Resources Agrees to Buy Canadian Gas Firm for $2.08 Billion". The Wall Street Journal.
- "Burlington Resources begins oil production from Algeria's MLN field, resumes Madden field production". Oil & Gas Journal. July 8, 2003.
- "Burlington Resources Receives Approval to Develop China's Bajiaochang Gas Field" (Press release). Business Wire. February 26, 2004.
- "ConocoPhillips Completes Acquisition of Burlington Resources" (Press release). Business Wire. March 31, 2006.