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Sonat sold Sea Robin Pipeline in 1999 as a requirement to complete its merger with El Paso. After being acquired by El Paso in 1999, Southern Natural Gas continued to operate as a separate division and kept its corporate headquarters in the AmSouth-Sonat Tower until 2007, when it relocated to the Colonial Brookwood Center located in a suburb of ...
Santa Fe Snyder Corporation was an independent oil and gas exploration and production company headquartered in Houston, Texas. [1] The company was formed by the 1999 merger of Houston-based Santa Fe Energy Resources and Fort Worth-based Snyder Oil Corporation. Santa Fe Snyder merged with Devon Energy in August 2000. Devon Energy Corp., Oklahoma ...
If the merger is approved by regulators and shareholders of both companies, it will be the largest oil industry merger and the largest foreign take-over of a U.S. company to date. The company will be known as BP Amoco, and it will be the world's third-largest multinational oil company in terms of net income behind Exxon and Shell. (NYT) (WSJ) (WP)
2003-2007: Chesapeake spends billions to acquire assets in nearly every U.S. major energy field, making it the second-largest domestic producer of natural gas, trailing only Exxon. In 2005 ...
March 23: In an effort to raise oil prices, which fell sharply in late 1997 and stayed low through 1998 and into early 1999, OPEC and non-OPEC countries agree to cut oil output by a combined 2.104 million barrels per day (334,500 m 3 /d), effective April 1, 1999, for one year.
On this day in economic and business history ... On Aug. 11, 1998, BP announced its intent to buy Amoco in a deal worth $48 billion. The move would vault a proposed BP Amoco into third place on ...
The technicalities of the merger, which was completed on November 30, 1999, showed that Exxon bought Mobil, and Mobil shareholders received a payment of stock in Exxon. [3] [4] Mobil continues as a brand name within the combined company, as well as still being a gas station sometimes paired with its own store or On the Run.
ConocoPhillips's plans to acquire independent oil and gas producer Marathon Oil in an all-stock deal for $22.5 billion including debt continues a recent string of deals in the energy space.