ConocoPhillips Completes $2.7 Billion Registered Notes Offering

King & Spalding advised ConocoPhillips in completing a registered offering of an aggregate $2.7 billion of Senior Notes, consisting of 5.050% Notes due 2033, 5.550% Notes due 2054 and 5.700% Notes due 2063. ConocoPhillips expects to use the net proceeds from the offering to fund the purchase of the remaining 50% interest in Surmont, a large, multi-decade oil sands project located in the Athabasca region of northeastern Alberta, from TotalEnergies EP Canada Ltd, with any remaining proceeds to be used for general corporate purposes.

ConocoPhillips is an independent E&P company headquartered in Houston, Texas with operations and activities in 13 countries. Its diverse, low cost of supply portfolio includes resource-rich unconventional plays in North America; conventional assets in North America, Europe and Asia; LNG developments; oil sands in Canada; and an inventory of global conventional and unconventional exploration prospects. The King & Spalding deal team includes Keith Townsend, Zach Cochran, John Morris, Philip Rizk and Corey Purnell.