From Ryan’s mouth at the Bartlesville Town Hall just now, “We are not and we will not close Bartlesville”
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Phillips 66 Company and pre-merger heritage Phillips Petroleum Company are two different things. The spun off Phillips 66 retained heritage Conoco and heritage Phillips assets just like the remaining ConocoPhillips did. It would be beneficial to understand the business that you work for.
There is no need to move people from Bartlesville to Houston, buy useless houses, etc. There are plenty of qualified people already in Houston to fill those jobs.
Funny to read this exchange! Sounds like the one with a grudge and hate is from Bartlesville. Guess they are desperate to survive.
I think you just answered your question.
I am curious what the hate is in Bartlesville 1zpc ?
As long as we have jobs they could call It ChevronPhillips and just drop the Conoco..
Has a nice ring to it..
One of the oldest if not the oldest brands, CONOCO 143 Year Old respected brand name and company. Too bad there is so much hate in Bartlesville. Another resson it won't last long.
Why would anyone want to be named after a two-time de-listed loser. Why not rename company something more appropriate to how we are viewed in the industry. Spirit Oil Company. Any other suggestions out there?
Nothing new, Conoco can still drop the phillips if it chooses to do so as it is a independent company that spun of Phillips66. This can happen with or without Bartlesville.
Heritage Conoco was de-listed twice from the NYSE. The company was acquired by DuPont in the 1980's to fend off hostile takeover. The company was later spun-off from DuPont and traded as independent entity on the NYSE. Phillips Petroleum acquired Conoco in 2002 at which time Conoco was again de-listed from the NYSE. The acquiring company Phillips Petroleum trading under the single letter P, changed the company name to ConocoPhillips and changed the trading symbol to COP.
The acquisition was a non-cash transaction. Ownership was based on on pre-purchase market capitalization resulting in Phillips shareholders owning 56 pct of the merged companies with Conoco shareholders owning 44 pct of ConocoPhillips.
Conocophillips retained the right to use both logos Conoco and Phillips66 because of properties still registered in those name and long term previous contracts. If COP
Wants to become Conoco it can easily do so with or without Bartlesville. Another lie from up north trying to spin the web!
The debate around ConocoPhillips eventually dropping Phillips and becoming Conoco (like the other combined majors eventually did) ended with the P66 split. Conoco and it’s respective logos are registered trademarks owned by Phillips 66 Company.
Conocos name was first so Mikva could finish the deal and become CEO. Phillips was 35% larger at the time of the merger.
It would cost too much to move people to Houston and buy all the worthless houses and lose on the buildings. I don’t know why people are so obsessed with this.
I think he’s actually telling the truth. All of the buildings in Bartlesville are currently being updated and remodeled. They are you the COP colors in the designs so I don’t think it’s going anywhere anytime soon.
From Ryan: We are not and we will not reduce the dividend.
Conoco' s name comes first and phillips will eventually be dropped. Same for Bville!
Bartlesville is the birthplace of ConocoPhillips since Phillips bought Conoco. It needs to stay a part of COP.
What relief! Now we can shut down Houston and centralize to Bville.
Any of these leaders are going to tell you what you want to hear, knowing that enough will believe it to keep from developing the critical mass required for a mutiny.
They said they wouldn’t leave Ponca and did......
Maybe he means Bville won’t clise this year?
Just remember Ryan also said we wouldn’t cut the dividend and that there would be no more layoffs and that we were staffed appropriately for the work load after the last layoff. He is a paid professional liar, if you believe him you are a fool.