ConocoPhillips

ConocoPhillips is an independent oil and gas exploration and production company based in the United States. It is recognized for its strong technical capabilities, high-quality assets, and financial strength, which position it competitively in the global energy market. In 2023, ConocoPhillips produced 1.2 million barrels per day of oil and natural gas liquids, along with 3.1 billion cubic feet per day of natural gas, primarily from regions including Alaska, the Lower 48 states, Norway, and several countries in Asia-Pacific and the Middle East. The company reported proven reserves of 6.8 billion barrels of oil equivalent at the end of 2023. ConocoPhillips is dedicated to the efficient exploration and production of oil and natural gas, leveraging technology and investment to enhance global quality of life while delivering significant economic benefits.

Josh Peter

CFO

Past deals in Oil and Gas

Marathon Oil

Acquisition in 2024
Marathon Oil is an independent oil and gas exploration and production company headquartered in Texas. The company specializes in the development of unconventional resources within the United States. As of the end of 2023, Marathon Oil reported net proved reserves of 1.1 billion barrels of oil equivalent, with an average net production of 405 thousand barrels of oil equivalent per day. This production comprises approximately 70% oil and natural gas liquids, and 30% natural gas. Marathon Oil emphasizes safe and responsible production practices while prioritizing environmental, social, and governance (ESG) considerations. The company’s strategic focus is on maintaining a strong financial position and delivering value to its investors through a diverse oil and gas portfolio.

Concho Resources

Acquisition in 2020
Concho Resources is an independent oil and natural gas company based in Midland, Texas, engaged in the acquisition, development, and exploration of oil and natural gas properties. The company has established a significant presence in the Delaware Basin and the Midland Basin, utilizing advanced techniques such as horizontal drilling and multi-well project development. Concho has achieved notable production growth, with a reported 33.6 million barrels of oil equivalent produced and a capital budget of approximately $1.8 billion. In a strategic move to enhance its operational footprint, the company acquired the assets of Three Rivers Operating Company for about $1 billion, notably expanding its positions in key areas. To partially finance this acquisition, Concho divested non-core assets in the Permian Basin for $520 million. Since its inception in 2004, Concho Resources has focused on optimizing energy production to meet the growing demands of various industries.

LUX Assure

Venture Round in 2016
LUX Assure Limited specializes in developing and delivering advanced chemical monitoring technologies for the oil and gas industry, both offshore and onshore. The company offers innovative solutions such as CoMic, which helps determine the optimal dosage of corrosion inhibitors, and a variety of testing kits that facilitate onsite or offshore colorimetric analysis. Their products are designed to monitor chemical concentrations, including scale, corrosion, and hydrate inhibitors in water and hydrocarbons. Established in 2001 and based in Edinburgh, United Kingdom, LUX Assure has gained recognition for its robust and user-friendly technologies, earning awards for innovation within the industry. The company serves clients in the UK and internationally, providing essential tools for effectively managing chemical usage in extraction processes.

Maana

Series A in 2015
Maana, Inc. specializes in industrial data analytics and digital knowledge technology software solutions. Founded in 2012 and headquartered in Palo Alto, California, the company has additional offices in Bellevue, Washington; Houston, Texas; London, United Kingdom; and Dhahran, Saudi Arabia. Its flagship offering, the Maana Knowledge Platform, is designed to enhance operational problem-solving by enabling knowledge discovery, thereby increasing profitability for its clients. Central to this platform is the patented Knowledge Graph, which facilitates the extraction of knowledge from disparate data sources, revealing critical relationships related to assets or processes. Maana's solutions are utilized across various sectors, including field services, maintenance, sales, logistics, finance, risk and compliance, and oil and gas. Notable global clients, such as GE, Chevron, and Shell, leverage Maana's technology to operationalize insights and enable faster, data-driven decision-making for their teams.

Saltworks

Venture Round in 2014
Saltworks Technologies Inc. is a water technology company based in Richmond, Canada, focused on the design, manufacture, and delivery of desalination and wastewater treatment plants. Founded in 2008, the company specializes in advanced solutions for treating challenging water conditions, offering turnkey crystallizer systems, ion exchange membrane products, and membrane-stack systems. Its product range includes ElectroChem Advanced Electrodialysis systems for industrial wastewater treatment, salt splitters for recovering scale-limited waters, ammonia splitters for ammonia removal, and the SaltMaker Evaporator Crystallizer for treating wastewater or brine. Saltworks provides comprehensive services encompassing process engineering, operation, and finance, serving various sectors such as ammonia treatment, landfill leachate, oil and gas, mining, and agriculture. With a global customer base, the company is committed to reducing brine volume, lowering disposal costs, and achieving zero liquid discharge through its innovative technologies.

Ziebel AS

Venture Round in 2014
Ziebel AS, founded in 2006 and headquartered in Tananger, Norway, specializes in well intervention services for the global oil and gas industry. The company offers innovative technologies, particularly the Z-System, which utilizes a fiber optic composite rod to enable real-time access and visualization of well bores. Ziebel's technology supports various applications, including Distributed Temperature Sensing (DTS) for leak detection and integrity monitoring, as well as Distributed Acoustic Sensing (DAS) for fluid movement visualization and flow pattern recognition. Its solutions, such as the Z-Rod and Z-Line, are designed for safe deployment into producing or injecting wells, providing operators with critical data to enhance production efficiency and safety. Ziebel also maintains a web platform, Z-Community, to facilitate resource sharing and training for its employees and partners worldwide.

Accend

Series A in 2013
Accend, Inc. is a software development company focused on providing data-driven solutions for the energy sector, particularly within the oil and gas industry. Founded in 2012 and based in Austin, Texas, Accend offers tools such as Accend Insight, an oilfield data platform that assists companies in tracking petroleum production and drilling permits for North American wells, and Accend Field, a surveillance application designed to help oilfield professionals optimize production processes. The company also provides enterprise data collection and application development services, delivering essential data on petroleum wells, drilling permits, and interactive mapping. Previously known as Drill Map, Inc., Accend rebranded in September 2014 to reflect its broadened focus on data solutions for exploration and production operators as well as oilfield services.

LUX Assure

Funding Round in 2013
LUX Assure Limited specializes in developing and delivering advanced chemical monitoring technologies for the oil and gas industry, both offshore and onshore. The company offers innovative solutions such as CoMic, which helps determine the optimal dosage of corrosion inhibitors, and a variety of testing kits that facilitate onsite or offshore colorimetric analysis. Their products are designed to monitor chemical concentrations, including scale, corrosion, and hydrate inhibitors in water and hydrocarbons. Established in 2001 and based in Edinburgh, United Kingdom, LUX Assure has gained recognition for its robust and user-friendly technologies, earning awards for innovation within the industry. The company serves clients in the UK and internationally, providing essential tools for effectively managing chemical usage in extraction processes.

Tosco Corporation

Acquisition in 2001
Tosco was an independent US based petroleum refining and marketing corporation. It was founded in 1955 and grew to become the largest independent oil refining and fuel marketer in the United States during the 1990s, with more than 5,000 Circle K, Union 76, BP, Exxon, and Shell convenience store and service stations. Tosco merged with Phillips Petroleum in 2001. Phillips merged with Conoco in 2002 to become ConocoPhillips, who spun off the Circle K stores to Canadian-based Alimentation Couche-Tard.
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