News
Local News
Posted: Sep 10, 2024 2:05 PMUpdated: Sep 10, 2024 2:20 PM
ConocoPhillips CEO: Bartlesville's Future is Bright, Stable for Company
Nathan Thompson
ConocoPhillips Chairman/CEO Ryan Lance says the future is bright and stable for the company's operations in Bartlesville.
Lance was the guest of honor for a Bartlesville Chamber of Commerce forum at Tri-County Tech on Tuesday. He says Bartlesville has just under 1,000 ConocoPhillips employees who work for the global financial services and information technology back-office, and those positions are key as the company continues to transform its global operations computer systems.
Lance says ConocoPhillips is in the process of acquiring Marathon Oil for an enterprise value of $22.5 billion. The acquisition was announced in May, and is expected to close in the fourth quarter of this year. He says the move was unexpected by many, but the market condition was right. Lance says it will secure ConocoPhillips' future as the world's largest independent exploration and production company.
Lance says ConocoPhillips is committed to the E&P side of the oil business, and has no intent to venture back into midstream or downstream lines.
He says that commitment is why ConocoPhillips is able to return an expected 34% increase in dividend to stockholders for the 4th quarter.
« Back to News