ConocoPhillips, Houston, (NYSE: COP) has completed its acquisition of Houston-based Burlington Resources following approval by Burlington's shareholders. As a result of the merger, each share of Burlington Resources stock has been converted into the right to receive $46.50 in cash and 0.7214 share of ConocoPhillips stock for a total deal value of more than US$33 billion. ConocoPhillips' net proved reserves are expected to increase to 11.5 billion barrels of oil equivalent, including the company's interest in Lukoil but excluding Syncrude.
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