Phillips Petroleum Company was founded in 1917 by L. E. Phillips and Frank Phillips, of Bartlesville, Oklahoma. Their younger brother Waite Phillips was the benefactor of Philmont Scout Ranch.
Phillips Petroleum was headquartered in Bartlesville, Oklahoma.
In 1954, the U.S. Supreme Court decided the landmark case of Phillips Petroleum vs. State of Wisconsin which held that under the Natural Gas Act, the federal government should regulate the prices which natural gas producers charge when selling gas at the wellhead.
In 1966, Phillips Petroleum bought Tidewater Oil Company's West Coast operations and rebranded their Flying A outlets to Phillips 66.
In late 1984, Mesa Power LP Company, led by T. Boone Pickens, Jr., attempted a hostile takeover of Phillips Petroleum. Phillips remained an independent company but recapitalized with greater debt.
On August 30, 2002, Conoco Inc. merged with Phillips Petroleum to form ConocoPhillips.
The best-known brand of Phillips Petroleum was Phillips 66, named in part for the historic US Highway known as Route 66.
Famous quotes containing the words phillips and/or company:
“What the Puritans gave the world was not thought, but action.”
—Wendell Phillips (1811–1884)
“A man should not go where he cannot carry his whole sphere or society with him,Mnot bodily, the whole circle of his friends, but atmospherically. He should preserve in a new company the same attitude of mind and reality of relation, which his daily associates draw him to, else he is shorn of his best beams, and will be an orphan in the merriest club.”
—Ralph Waldo Emerson (1803–1882)