ConocoPhillips concludes merger

Sept. 4, 2002
Sept. 4--Phillips Petroleum Company concluded their merger following clearance by the US Federal Trade Commission August 30. Shareholders of both companies and all US and foreign regulatory authorities cleared the merger earlier this year.

Sept. 4--Phillips Petroleum Company concluded their merger following clearance by the US Federal Trade Commission August 30. Shareholders of both companies and all US and foreign regulatory authorities cleared the merger earlier this year.
The newly formed ConocoPhillips is the third largest integrated US energy company. On a global basis, it is the sixth largest publicly held energy company based on hydrocarbon reserves and production, and it is the fifth-largest global refiner.
ConocoPhillips has net proven reserves of 8.7 Bboe, daily oil and natural gas production of 1.7 MMboe, and a refining capacity of 2.6 MMb/d, and has assets of $75 billion.
Each share of Phillips common stock has been converted into one share of ConocoPhillips common stock, and each share of Conoco common stock has been converted into 0.4677 of a share of ConocoPhillips common stock. Information regarding exchange of share certificates will be sent to former Phillips and Conoco shareholders as soon as practicable. Beginning September 3, ConocoPhillips' stock will be listed on the New York Stock Exchange under the symbol COP.
Headquartered in Houston, ConocoPhillips is a major international integrated energy company with operations in 49 countries.