Spinoff of Phillips 66 complete -ConocoPhillips now an independent E&P company

摘要

ConocoPhillips has completed the spinoff of its downstream businesses. With the completion of this transaction, ConocoPhillips is the world's largest independent exploration and production (E&P) company, based on proved reserves and production of liquids and natural gas. Current production averaged 1.62 million boe/d in 2011 and proved reserves were 8.4 billion boe BOE as of Dec. 31,2011. ConocoPhillips benefits from more than a century of experience and success achieved by its predecessor companies.