Executive Education

Major spin-offs in the energy sector- COP, BP, CHK, EP, XOM, CVX, MRO, MPC, TSO, TLLP (September 5, 2011)

The largest planned spin-off in the energy sector of the downstream assets of ConocoPhillips Corp. (NYSE: COP), explores for, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG) and natural gas liquids.

Marathon Oil Corp. (NYSE: MRO), an integrated international energy company engaged in exploration and production; oil sands mining; integrated gas, and refining, marketing and transportation, spun out its downstream business into Marathon Petroleum Corp. (NYSE: MPC), a petroleum product refiners, transporters and marketers in the United States.

Tesoro Corp. (NYSE: TSO), an independent petroleum refiners and marketers in the United States, has spun off its logistics and gathering assets into Tesoro Logistics LP (NYSE: TLLP), own, operate, develop and acquire crude oil and refined products logistics assets.

BP plc (NYSE: BP) should shed its downstream assets in an attempt to put the proper value on all of BP’s assets. Exxon Mobil Corp. (NYSE: XOM) recently unloaded an 88,000 barrel/day refinery in Malaysia. Chevron Corp. (NYSE: CVX) has said that it definitely has no plans to split up its businesses.

Chesapeake Energy Corp. (NYSE: CHK), a producer of natural gas and oil and natural gas liquids in the United States has proposed plans to spin off a royalty trust to be called Chesapeake Granite Wash Trust.

El Paso Corp. (NYSE: EP), operates in the natural gas transmission and exploration and production sectors of the energy industry plans to spin off its exploration and production assets while maintaining its midstream business.

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Jessica Todd Swift
Jessica Todd Swift is the deputy managing editor of the CEOWORLD magazine. She is a veteran business and tech blogger, journalist, and analyst. Jessica is responsible for overseeing newsroom assignments and publishing and providing support to the editor in chief.