SureTrader SureTrader
Home > Boards > US Listed > Oil/Gas/Natural Energy Production >

Conoco Phillips (COP)

COP RSS Feed
Add COP Price Alert      Hide Sticky   Hide Intro
Moderator:
Search This Board:
Last Post: 9/12/2016 4:06:21 PM - Followers: 37 - Board type: Free - Posts Today: 0







ConocoPhillips (ConocoPhillips) is an international, integrated energy company. The Company's business is organized into six segments. Exploration and Production segment primarily explores for, produces and markets crude oil, natural gas and natural gas liquids on a worldwide basis. Midstream segment gathers, processes and markets natural gas produced by ConocoPhillips and others, and fractionates and markets natural gas liquids, primarily in the United States and Trinidad. Refining and Marketing segment purchases, refines, markets and transports crude oil and petroleum products, mainly in the United States, Europe and Asia. LUKOIL Investment segment consists of its equity investment in the ordinary shares of OAO LUKOIL (LUKOIL). The Chemicals segment manufactures and markets petrochemicals and plastics on a worldwide basis. Emerging Businesses segment includes the development of new technologies and businesses outside the Company's normal scope of operations.

600 North Dairy Ashford
Houston, TX 77079
(281) 293-1000
shrrelations@melloninvestor.com
http://www.conocophillips.com/
http://www.conocophillips.com/EN/Pages/index.aspx


ConocoPhillips' Board of Directors Approves Spin-off of Phillips 66
Conocophillips (NYSE:COP)
Today : Wednesday 4 April 2012
ConocoPhillips [NYSE:COP] announced today that its board of directors has given final approval for the spin-off of its downstream businesses. The resulting upstream company will keep the ConocoPhillips name and will be led by Chairman and CEO Ryan Lance. The downstream company, led by Chairman and CEO Greg Garland, will be known as Phillips 66. Both companies will be headquartered in Houston.
The two new companies will be separated through the distribution of shares of Phillips 66 to holders of ConocoPhillips common stock. This distribution is expected to occur after market close on April 30, 2012. ConocoPhillips shareholders will receive one share of Phillips 66 common stock for every two shares of ConocoPhillips common stock held at the close of business on the record date of April 16, 2012. Fractional shares of Phillips 66 common stock will not be distributed and any fractional share of Phillips 66 common stock otherwise issuable to a ConocoPhillips shareholder will be sold in the open market on such shareholder's behalf, and such shareholder will receive a cash payment with respect to that fractional share.
Following the distribution of Phillips 66 common stock, Phillips 66 will be an independent, publicly traded company, and ConocoPhillips will retain no ownership interest. Phillips 66 has received approval for the listing of its common stock on the New York Stock Exchange under the symbol PSX.
ConocoPhillips has received a private letter ruling from the Internal Revenue Service to the effect that, based on certain facts, assumptions, representations and undertakings set forth in the ruling, for U.S. federal income tax purposes, the distribution of Phillips 66 common stock and certain related transactions generally will not be taxable to ConocoPhillips or U.S. holders of ConocoPhillips common stock, except in respect to cash received in lieu of fractional share interests, which generally will be taxable to such holders as capital gain.
No action is required by ConocoPhillips shareholders in order to receive shares of Phillips 66 common stock in the distribution, and ConocoPhillips shareholders should retain their ConocoPhillips stock certificates. Shareholders entitled to receive the distribution will receive a book-entry account statement reflecting their ownership of Phillips 66 common stock, or their brokerage account will be credited for the shares.
ConocoPhillips expects that a "when-issued" public trading market for Phillips 66 common stock will commence on or about April 12, 2012 under the symbol PSX WI and will continue through the distribution date. ConocoPhillips also anticipates that "regular way" trading of Phillips 66 common stock will begin on the first trading day following the distribution date. In anticipation of this trading, the company will issue a first-quarter interim update to provide investors with an update on the company as well as market and operating conditions experienced during the first quarter of 2012. A full first-quarter earnings announcement is scheduled for April 23, 2012.
Beginning on or about April 12, 2012, and through the distribution date, it is expected that there will be two ways to trade ConocoPhillips common stock - either with or without the right to receive shares of Phillips 66 common stock. Shareholders who sell their shares of ConocoPhillips common stock in the "regular-way" market (that is, the normal trading market on the NYSE under the symbol COP) after the record date and on or prior to the distribution date will be selling their right to receive shares of Phillips 66 common stock in connection with the distribution. It is anticipated that shares of ConocoPhillips common stock will also trade ex-distribution (that is, without the right to receive the Phillips 66 distribution) during that period under the symbol COP WI. Investors are encouraged to consult with their financial advisors regarding the specific implications of buying or selling shares of ConocoPhillips common stock on or before the distribution date.
Prior to the distribution, ConocoPhillips expects to mail an information statement to all shareholders entitled to receive the distribution of shares of Phillips 66 common stock. The information statement will describe Phillips 66, including the risks of owning Phillips 66 common stock, and other details regarding the distribution.
Upon repositioning, Phillips 66 will offer a unique approach to downstream integration, comprising segment-leading refining and marketing, midstream and chemicals businesses, while ConocoPhillips will be the industry's largest and most diverse global, pure-play, upstream company. The repositioning into two leading energy companies will help grow the value of both companies for shareholders by unlocking the potential of their assets and employees.
ConocoPhillips is an integrated energy company with interests around the world. Headquartered in Houston, the company had approximately 29,800 employees, $153 billion of assets, and $245 billion of revenues as of Dec. 31, 2011. For more information, go to www.conocophillips.com.
CAUTIONARY STATEMENT FOR THE PURPOSES OF THE "SAFE HARBOR" PROVISIONS




Daily Nine-Month Charts






Weekly Five-Year Charts


WHY own COP?  http://investorshub.advfn.com/boards/board.aspx?board_id=6609
 

  • 1D
  • 1M
  • 2M
  • 3M
  • 6M
  • 1Y
  • 2Y
  • 3Y
  • 5Y
COP
Current Price
Volume:
Bid Ask Day's Range
SureTrader
COP News: A.M. Best Affirms Credit Ratings of Sooner Insurance Company 09/21/2016 03:05:00 PM
COP News: Statement of Changes in Beneficial Ownership (4) 09/02/2016 04:26:34 PM
COP News: Statement of Changes in Beneficial Ownership (4) 09/02/2016 12:50:11 PM
COP News: Statement of Changes in Beneficial Ownership (4) 09/02/2016 12:47:56 PM
COP News: Statement of Changes in Beneficial Ownership (4) 09/02/2016 12:45:48 PM
PostSubject
#552   Good stuff. Yeah, EVERYONE is assuming oil radar72 09/12/16 04:06:21 PM
#551   hidden tiger --bouncing Lions ernie44 09/12/16 03:31:10 PM
#550   Love my 31s :) TigerCloud 08/18/16 09:54:51 PM
#549   COP hanging in there OK today so far radar72 07/28/16 11:35:24 AM
#548   Bought some more at $40.05.... radar72 07/27/16 01:05:49 PM
#547   Just bought back into COP here at $40.20's. radar72 07/27/16 12:52:09 PM
#546   Glad I got in again at 32$ CTDT AS 07/14/16 05:31:51 PM
#545   COP great news yesterday CTDT AS 07/14/16 05:31:14 PM
#544   The Oil Glut Is Over, Says World’s Most slazenger7 06/22/16 10:59:11 PM
#543   $60 in 6 months? Could be. slazenger7 06/17/16 10:47:22 PM
#542   Oil may hit $60 by summer: UAE economy minister slazenger7 05/31/16 06:25:41 PM
#541   Latest ConocoPhillips (NYSE:COP) Target Price Suggests Stock Is slazenger7 05/31/16 06:18:29 PM
#540   When oil hits $50.00, COP will follow close behind. slazenger7 05/20/16 11:51:49 AM
#539   Crude Oil Price Charts - slazenger7 04/24/16 08:36:56 PM
#538   Gm all cop CTDT AS 04/13/16 08:36:26 AM
#537   Yes, but the URL link for article showed DocLevi 04/11/16 02:52:43 PM
#536   Doesn't matter if there is or isn't a slazenger7 04/11/16 02:48:59 PM
#535   Just found and posted in Oil... board but DocLevi 04/11/16 02:30:36 PM
#534   That'll never work long term as there are DocLevi 04/11/16 12:31:46 PM
#533   Just saw your message. That is hilarious. radar72 04/11/16 12:13:30 PM
#532   ConocoPhillips (COP): The Right Investment Option slazenger7 04/09/16 10:55:27 AM
#531   Oil prices on a tear on strong economic news slazenger7 04/08/16 11:24:52 AM
#530   Oil rises on firm US and German growth slazenger7 04/08/16 07:26:06 AM
#529   Exclusive: Russia sees oil price of $45-$50 per slazenger7 04/06/16 07:52:29 PM
#528   Oil prices jump on hopes producers will agree slazenger7 04/05/16 11:47:29 PM
#527   UPDATE 2-Signs point to deal on oil output-Kuwait slazenger7 04/05/16 11:03:35 AM
#526   Why don't they do what Frito-Lay and other DocLevi 04/01/16 10:51:13 AM
#525   Deutsche Bank Releases ConocoPhillips Price Target With Potential slazenger7 03/30/16 05:54:21 PM
#524   BARCLAYS REITERATES “BUY” RATING FOR CONOCOPHILLIPS (COP) slazenger7 03/30/16 05:49:49 PM
#523   Why ConocoPhillips' Comeback Will Continue slazenger7 03/29/16 07:15:40 PM
#522   Why Oil Stocks Will Be the Best Investment slazenger7 03/27/16 08:31:44 PM
#521   Geode Capital Management buys $428.9 Million stake in slazenger7 03/27/16 08:22:50 PM
#520   Capital International Ltd Ca buys $29.3 Million stake slazenger7 03/27/16 08:20:58 PM
#519   Oil price recovery to accelerate as smaller producers slazenger7 03/26/16 07:56:27 PM
#518   OPEC expects upsurge in oil prices with or slazenger7 03/22/16 10:22:07 AM
#517   Andy Hall: Oil Prices Could Be Headed To slazenger7 03/21/16 09:48:33 PM
#516   BRIEF-ConocoPhillips enters into term loan agreement of $1.6 bln slazenger7 03/21/16 11:44:34 AM
#515   Top Stocks of the day: ConocoPhillips (NYSE:COP) slazenger7 03/20/16 07:33:46 PM
#514   Oil prices likely to go up from April 1st slazenger7 03/20/16 04:06:21 PM
#513   Oman confident of recovery in oil prices after slazenger7 03/20/16 04:01:18 PM
#511   Loving it, HotRod called it at 32 said CTDT AS 03/17/16 10:55:51 PM
#510   Just keeps going up. radar72 03/17/16 11:38:51 AM
#509   ConocoPhillips (COP) Director Arjun N. Murti Acquires 7,500 Shares slazenger7 03/11/16 07:43:55 AM
#508   Promising stocks in today’s market: ConocoPhillips (NYSE:COP) slazenger7 03/11/16 07:43:01 AM
#507   Love the read. I'll get out at 65$ HOTROD_ZR1 03/09/16 10:23:40 PM
#506   3 Reasons ConocoPhillips' Stock Could Rise slazenger7 03/09/16 07:20:15 PM
#505   Oil prices rise as big producers plan to slazenger7 03/09/16 07:39:26 AM
#504   Crude Oil prices moving back up today. slazenger7 03/09/16 07:33:42 AM
#503   Crude Oil Price Charts - slazenger7 03/07/16 10:41:32 PM
#502   Said that two weeks ago and some guy HOTROD_ZR1 03/07/16 08:56:04 PM
PostSubject