...Dispersed Work Sites Are Not a Barrier to Communication CONOCO CASE STUDY A Focus on People Results in Zero Incidents Safety Training and Safety Audits Help Prevent Injuries at Conoco’s North Sea Operations Challenge The ConocoPhillips company has a long and solid tradition of safety at work. Conoco’s products range from crude oil, natural gas and natural gas liquids to refined products, such as motor oil, other lubricants and petroleum coke. The company is committed to protecting the health and safety of everyone who plays a part in their operations, lives in the communities in which they operate or uses their products. Wherever they operate, Conoco intends to conduct business with respect and care for both the local and global environment and systematically manage risks to drive sustainable business growth. Conoco is not satisfied until it succeeds in eliminating all injuries, occupational illnesses, unsafe practices and incidents of environmental harm from their activities. Solution In 1998, with the help of DuPont, the goal of zero incidents became reality for the 425 employees of ConocoPhillips Limited in the U.K. Not only had there been zero lost-time incidents, but zero days of restricted activity and zero medical treatment cases. In other words, the total recordable rate was 0.00. This safety record was the result of focusing on a number of basic principles: • All injuries and occupational illnesses can be prevented. • People are the...
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...Phillips 66 Director, Amgen Inc Age: 56 Profile Greg C. Garland became Chairman of the Board of Directors, President and Chief Executive Officer of Phillips 66 on April 30, 2012. Mr. Garland was appointed Senior Vice President, Exploration and Production-Americas for ConocoPhillips in October 2010, having previously served as President and Chief Executive Officer of Chevron Phillips Chemical Company LLC (CPChem) since 2008. Prior to that, he served [...] more Phillips 66 Compensation for 2013 Salary Restricted stock awards All other compensation Option awards Non-equity incentive plan compensation Change in pension value and nonqualified deferred compensation earnings Total Compensation $1,441,667 $7,276,484 $311,413 $2,658,045 $4,108,750 $4,045,846 $19,842,205 Options Exercised for 2013 Number of securities underlying options exercisable Number of securities underlying options unexercisable 66,077 53,912 Stock Ownership for 2014 Number of shares owned 28,384 Amgen Inc Director Compensation for 2013 Fees earned or paid in cash Stock awards Total Compensation $30,000 $49,901 $79,901 http://www.forbes.com/profile/greg-garland/ 1/4 10/21/2014 Greg Garland - Forbes ConocoPhillips Stock Ownership for 2011 Number of shares owned 5,727 Financial data provided by Who Just Made a Billion Dollars? Our Real-Time...
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...Apache Corporation was conceived over 50 years ago. Its growth has created a company that is built to last. Apache was formed in 1954 with $250,000 of investor capital with the simple concept of becoming a significant and profitable oil company. Today, Apache Corporation is one of the world's top independent oil and gas exploration and production companies. Apache Corporation engages in the exploration, development, and production of crude oil, natural gas, and natural gas liquids. The company’s operations are in the United States, Canada, Egypt, the United Kingdom North Sea, Australia and Argentina. The values Apache was founded upon are still the same values the company instills in its employees today- integrity, respect, dignity, innovation, initiative and environmental responsibility. The company’s continued success and growth are due to these values as they guide business decisions and actions. Apache’s mission is to grow a profitable global exploration and production company in a safe and environmentally responsible manner for the long-term benefit of our shareholders. Apache is very much involved in the global market; along with operating in several countries around the world, the company also contributes by funding to educational, social, health programs in those countries. In 2012 the company generated $17.1 billion in revenue. Apache Corporation is a Fortune 500 company and its demand on the New York Stock Exchange has been increasing over the years as business production...
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...FI561- Mergers and Acquisitions Week 5 Case Study: DuPont Divestiture of Conoco November 27, 2011 . Abstract In this paper, we are examining the 1998 DuPont spin off of Conoco by analyzing the transaction itself. Then, I look at one of the possible alternatives to the chosen transaction and compare that alternative with the actual long term impacts of the sale. I will then decide and recommend which option would have been the best utilized by DuPont over the long-term in order to generate the most revenue from its ownership of Conoco. DuPont purchased Conoco in 1981 and it was the largest merger in corporate history at that time. The purchase gave DuPont a secure source of petroleum feedstocks needed for many of its fiber and plastics operations. Conoco also manufactured profitable commercial petroleum products and coal, produced by the wholly owned subsidiary Consolidated Coal Company. (“DuPont” 2011) Introduction Over the last several years, corporate America has often turned to spin offs as a way to increase their bottom line numbers. This has proven to be an effective tool in helping a firm to both divest itself of an unprofitable division and to raise large amounts of new investment capital. This money can be used to help repurchase stocks or make strategic acquisitions that will allow the firm to adapt with the changes that occur within their market place and allow it to continue to compete within that marketplace. Additionally, after such an event...
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...[pic] ConocoPhillips – Final Report MBA 808 – Moscow May 1, 2008 Scott Legler Erin Osborn Greg Whitehorn Introduction The ConocoPhillips and LUKOIL joint venture provides great insight into doing business in Russia. The Russian economy continues to grow as companies domestically and internationally find success in an emerging market once filled with corruption and instability. Through an analysis of the ConocoPhillips and LUKOIL joint venture one can see the opportunities available for those companies who are able to enter this market. ConocoPhillips provides lessons learned and a six-step approach for a successful joint venture business in Russia. ConocoPhillips also provides insight into many of the challenges still facing those who desire to do business in Russia. They prove that with a will to confront and determination to overcome these challenges, business in Russia can prove to be quite profitable. Background ConocoPhillips ConocoPhillips is the third largest energy company in the U.S. Based on market capitalization; it is surpassed in size only by U.S. oil giants Exxon Mobile and Chevron. ConocoPhillips is headquartered in Houston, TX and employees over 32,000 people worldwide in forty countries. According to its website “ConocoPhillips is known worldwide for its technological expertise in reservoir management and exploration...
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...Comprehensive Analysis and Recommendation Report By: Submittal Date: May 3rd, 2013. Table of Contents 1.Executive Summary............................................................................................3 2.History / Origins.…..............................................................................................4 3.Company Split-2012...........................................................................................6 4.Porters Five Forces.............................................................................................7 a. Barriers to Entry............................................................................. 7 b. Bargaining Power of Suppliers………….…………………………..8 c. Bargaining Power of Buyers........................................................... 8 d. Threat of Substitutes ......................................................................9 e. Competitive Rivalry ....................................................................... 9 5. SWOT Analysis ........................................................................................10 Strengths and Opportunities ........................................................ 10 Weaknesses and Threats ..............................................................13 6. Regulations and Subsidies .......................................................................14 7. Financial Statement...
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...………………………………………………………………….. 3 2.0 Introduction …………………………………………………………………………… 4 3.1 ConocoPhillips ………………………………………………………………... 4 3.2 ExxonMobil …………………………………………………………………….. 4 3.3 Chevron ………………………………………………………………………... 5 3.0 Financial Analyses and Benchmarking ………………………………………….. 5 4.4 Accounting Standards ………………………………………………………. 5 4.5 Common size Income Statement …………………………………………. 6 4.6 Benchmarking with Financial Ratios ………………………………………. 7 4.7 Business Segments ……………………………………………………………. 19 4.0 Issues ……………………………………………………………………………………. 22 5.0 Recommendations ………………………………………………………………… 23 6.0 Conclusion …………………………………………………………………………... 24 7.0 References …………………………………………………………………………... 25 Appendices Appendix 1 – Key Financial Data for COP, XOM and CVX Appendix II – Financial Ratios 1.0 Executive Summary ConocoPhillips has grown into the 3rd largest Integrated Oil and Gas Company in the US ever since the merger of Conoco and Phillips Petroleum in 2002. Since then, its market capitalization has grown 5 times to US$ 101 Bil with an asset base of US$155 Bil. This report provides an insight to the Board of Directors of the financial performance of ConocoPhillips since 2002 and will be benchmarked against competitors in the industry to give a cross sectional analysis. Whilst the growth of ConocoPhillips has been impressive over the last 10 years, earnings have not performed according...
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...ABSTRACT The purpose of this project is to determine multinational corporate sustainability within the oil industry and perform country analysis, industry analysis, and analysis of firm’s international strategies. INTRODUCTION The five oil companies that we chose from the 2010 Global Fortune 500 are ExxonMobil, Sinopec, ConocoPhillips, Petrobras, and Lukoil. In our project, we performed analysis on the 10K report of domestic companies, as in ExxonMobil and ConocoPhillips and the 20F report of foreign companies, as in Sinopec, Petrobras and Lukoil. A comparison was done on the five companies to determine if there exists a corelation between sustainability perspective and financial performance. OIL INDUSTRY ANALYSIS Oil accounts for a large percentage of the world’s energy consumption, ranging from 32% for Europe and Asia, and 53% for the Middle East. The world consumes 30 billion barrels of oil per year, with developed nations being the largest consumers. The United States consumed 25% of the oil produced in 2007. In 2009, world energy consumption decreased for the first time in 30 years (-1.1%), as a result of the financial and economic crisis (GDP drop by 0.6% in 2009). This evolution is the result of two contrasting trends. Energy consumption growth remained vigorous in several developing countries, specifically in Asia (+4%). Conversely, in OECD, consumption was severely cut by 4.7% in 2009 and was thus almost down to its 2000 levels. In North America, Europe and CIS...
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...#1 Alaska Sees Asia Driving Annual $20 Billion Via Pipeline This article by Edward Klump on Bloomberg.com discusses the market of natural gas that Alaska’s North Slope has in reserves and the need of this valuable commodity in regards to the countries of Asia, especially China. The state government of Alaska and large natural resource and exploration companies including Exxon Mobile Corp, BP Plc., and ConocoPhillips are currently planning construction of the transportation pipeline and the facilities needed to compress the natural gas into liquid and ship it to their potential consumers. The article states that this venture would generate as much as $20 billion in annual LNG (Liquefied Natural Gas) sales. The 800-mile pipeline project from northern Alaska to a southern port may cost $20 billion to $26 billion; about three times as much as TransCanada Corp.’s Keystone pipeline proposal to link Canada’s oil to the U.S. Gulf Coast, according to a 2010 estimate of the Alaska project. Industry estimates have also pegged Alaska’s Liquefied Natural Gas total project cost at $40 to $50 billion, factoring in a pipeline and liquefaction plant. (Klump 2012 Paragraph 9-10) Alaska’s marketing of the reserves to the lower 48 states has been slowed by technological advances in the process of fracking to obtain natural gas within the continental US. Fracking is the process of drilling deep into shale strata and fracturing the material to release the natural...
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...COMPETITOR ANALYSIS Exxon Mobil’s leading competitors are Royal Dutch Shell, British Petroleum, Chevron and ConocoPhillips. 1. Royal Dutch Shell: (Shell) is an independent oil and gas company. Shell is engaged worldwide in the principal aspects of the oil and gas industry and also has interest in chemicals and other energy-related businesses. Similar to Exxon Mobil, Shell operates in three different segments: Upstream, Downstream and Corporate. 2. British Petroleum: (BP) is an international oil and gas company. BP operates its products in more than 80 countries, providing its customers with fuel for transportation, energy for heat and light, retail services and petrochemical products. The company operates in two segments: Exploration & Production and Refining & Marketing. 3. Chevron: Chevron Corporation manages its investments in subsidiaries and affiliates and provides administrative, financial, management and technology support to the United States and international subsidiaries the engage in petroleum operations, chemical operation, mining operations, power generation and energy services. 4. ConocoPhillips: ConocoPhillips is an international, integrated energy company. The company operates in six segments: Exploration & Production, Midstream, Refining & Marketing, Investments, Chemicals, and Emerging Businesses. Competitor 2011 Revenue Comparison In terms of revenue, ExxonMobil is the leader followed by Shell, BP, Chevron, and Conoco. Competitor 2011...
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...Earnings Management Study Oil & Gas Industry Abstract This study mainly focused on the earnings management in oil and gas industry and we used Jones model to detect discretionary accruals in the subject companies. Specifically, we examined three oil and gas sample companies that have been required to restate their financial reports due to the oil reserve overestimation. After running the regression and comparing statistics with other oil and gas companies, we found that the sample companies do revise oil reserves to manipulate the DDA expenses, thus achieving their goals of earnings management. Some recommended auditing guidance to detect such manipulation were given at the end. Introduction/Assumption Earnings management, in accounting, is the act of intentionally influencing the process of financial reporting to obtain some private gain. Earnings management involves the manipulation of company earnings towards a pre-determined target. This target can be motivated by a preference for more stable earnings, in which case management is said to be carrying out income smoothing. Management may also overstate the income for personal interests. Other possible motivations for earnings management include the need to maintain the levels of certain accounting ratios due to debt covenants, boost earnings to beat analyst targets, or intentionally understate the earnings to get rid of the...
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...https://www.studypool.com/discuss/288031/acc-303-assignment-1-exxon-versus-chevron Assignment Title Your name Your Instructor’s name Course # Your Institution’s name Date: Chevron and Exxon 1. Compare and contrast the limitations and usefulness of the single-step income statement and the multi-step income statement. A single-step income statement presents a company’s net loss or profit is a single mathematical equation. This is useful when presenting financial information to individual who only needs to know the end result. Income and expenses are not separated by this statement. This statement is short and hence less time consuming and easily understood. However its major drawback is the lack of information especially when the financial condition of a company is being assessed. Multiple-step income statement is detail statement that includes details of a company different sources of expenses and income. The overall health of a company is assessed using this statement. It is however time consuming to prepare and correct a mistake in this statement. 2. Analyze the gross profit, operating profits, and net income of both Exxon and Chevron for 2012 and 2013. Of the two (2) companies, speculate on the main reasons why one (1) company may have been more profitable than the other company. Exxon |Exxon Mobil Corp., Net Profit Margin | ...
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...Chevron. These members are a part of the strategic group because they explore, produce, refine and market oil and gas. A reason why we didn’t pick Royal Dutch Shell is because we found that they have a joint venture with Exxon Mobil. With the recent hunches of more regulation in the oil industry, these corporations are investing in natural gas companies. In order for these companies to remain competitive they need to always be innovative and creative. This is another reason why we picked these three members as a part of the strategic group. Conoco Phillips is the smallest one in the strategic group bringing in only $16.99 million in net income at the end of 2008 (ConocoPhillips, 2008). Even with this small number we still consider Conoco Phillips a threat to Exxon Mobil. Companies | Exxon Mobil | BP | Chevron | ConocoPhillips | Revenues | 335.09B-2006, 358.60B-2007, 425.07B-2008275.56B-2009 | 265.91B-2006284.37B-2007361.14B-2008241.03B-2009 | 195.34B-2006203.97B-2007255.11B-2008159.39B-2009 | 167.58B-2006171.50B-2007225.42B-2008136.02B-2009 | Market-share percentage...
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...Hydrofracking Edwin R. Visser POL/215 July 15, 2015 Tim Buchanan Hydrofracking Hydraulic fracturing or better known as “hydrofracking” (also commonly referred to as simply fracking) has been around since the late 1940’s. According to "Coloradans For Responsible Energy Development" (2014), "more than two million wells have been fracked to date in the U.S.” (Top 10 Fracking Facts). Fracking is a controversial topic with a broad range audience. Governments, Agencies, the general public, and not to mention the Media have endless discussions about the good, the bad, and the ugly of this mostly misunderstood topic. Hydrofracking is used to release natural gas from underground shale formations. One of the biggest and most controversial shale formations is the Marcellus Shale. Onshore Natural gas and oil production is carried out by private companies; however government regulation is critical. State governments are the primary regulators of these activities. Therefore, minimum uniform regulation exists nationwide. Supporters of fracking believe that State regulations already in place are more than sufficient to protect the public and natural resources, especially the precious water supply. Supporters also believe that further EPA regulations “could hurt the industry and the economy” (Hydrofracking). Elizabeth Jones, the chair of the Railroad Commission of Texas, which regulates mining and drilling in the state, said: “If some of the new EPA regulations considered today...
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...wells. This movement causes the oil or gas to come to surface where it can be stored in wells (US EPA, 2012). 2. The process of hydraulic fracturing starts with finding natural gas in underground formations, such as sandstones, carbonates, shale and coal. To gain access to the natural gas, vertical, horizontal, or multi-level wells are drilled to the target formation. Hydraulic fracturing is a completion technique used to create an effective connection between a well and the natural gas formation. Before drilling a well, a drilling and completion plan must be developed and approved by state regulators. Geoscientists and environmental employees then work to collect information about the surface geology of the potential drill site (ConocoPhillips, 2011). A well pad made of cement and dirt is constructed at the surface, and a large hole is drilled to a shallow depth. At the top of the well, a large-diameter steel pipe is set to keep the surface from collapsing. Once drilling is complete to a shallow depth, the drill is removed, and a steel casing is inserted. The inner space of the steel pipe is the wellbore, and cement is added between the wellbore and outer steel...
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