NEW YORK --- ConocoPhillips Co. has agreed to acquire Burlington Resources Inc. for about $35.6 billion in cash and stock, the Wall Street Journal reported on Dec. 13. ConocoPhillips will also reportedly assume more than $1 million in Burlington Resources debt. In 2004, the two companies combined would have represented the second largest producer of natural gas and the third largest producer of crude oil and natural gas liquids in the United States.

Originally posted on Fleet Financials