Houston-based ConocoPhillips is an integrated petroleum company with about 38,000 employees and $160 billion of assets. And in the first quarter of 2006, the company reported $3.3 billion of net income on $47.9 billion in revenues.
"We ended the quarter by successfully completing the acquisition of Burlington Resources, and we are pleased with the progress toward integrating the combined companies," said ConocoPhillips' Chairman and CEO Jim Mulva on April 26. "This transaction establishes ConocoPhillips as the leading natural gas producer in North America, with a portfolio comprised mainly of high-quality, long-life natural gas reserves," he explained.
"During the quarter, we generated $4.8 billion in cash from operations; funded $4.6 billion in capital projects, investments and loans to affiliates, excluding the acquisition of Burlington Resources; and paid $496 million in dividends, which reflects a 16% increase to $.36 per share."
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