Burlington Resources
From Wikipedia, the free encyclopedia
| Burlington Resources | |
 |
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| Type | Public (NYSE: BR) |
|---|---|
| Founded | 1988 |
| Headquarters | Houston, Texas |
| Key people | Bobby S. Shackouls, President & CEO |
| Industry | Oil Production |
| Products | Petrochemical products |
| Revenue |  $1.5 billion USD (2005) |
| Employees | 2200 2005 |
| Website | BR-Inc |
Burlington Resources, NYSE: BR) is an American oil and gas company. Their headquarters are in Houston, Texas.
Based in Houston, Texas, BR has major offices located in Calgary, London, Farmington, Midland and Fort Worth. After the merger with ConocoPhillips, stockholders received 0.7214 shares of ConocoPhillips common stock plus $46.50 in cash for each share of Burlington Resources; before the merger, shares of Burlington Resources had last traded at $91.91.
[edit] History
- 1988: Burlington Resources is formed as a stand-alone resource company to manage Burlington Northern Railroad Company's resource assets (formerly including companies such as Milestone Petroleum, El Paso Company and Meridian Oil Inc, as well as land holdings and mineral rights granted in 1864 by Abraham Lincoln). BR stock is offered to the public (NYSE: BR).
- 1994: Non strategic properties were divested, eliminating half of BR's wells.
- 1997: BR merges with Louisiana Land & Exploration, gaining interest in properties in the Gulf Of Mexico.
- 1998: International expansion in Algeria.
- 1999: BR acquired Poco Petroleums, gaining properties in the Canadian western sedimentary basin.
- 2001: BR acquired Canadian Hunter Exploration, expanding its base in Canada.
- 2002: BR acquired production properties in Ecuador and has a gas sales deal with China.
- 2006: BR acquired by ConocoPhillips in a deal worth about US$35.6 billion. After Burlington Resources's purchase, Google entered the S&P 500 in the vacated position.
