Announced Action for February 21, 2003

Application for approval of proposed divestiture:

The Commission has received an application for approval of a proposed divestiture from ConocoPhillips, Inc. (ConocoPhillips), pursuant to a final decision and order with the FTC, announced on February 14, 2003, regarding Conoco's merger with Phillips Petroleum Company (Phillips). As detailed in the application, ConocoPhillips has requested Commission approval of the proposed divestiture of the New Mexico Assets (as that term is defined in the order) to Frontier Field Services, LLC, a newly formed affiliate of Frontier Energy Services, LLC.

The Commission is accepting public comments on the proposed divestiture until March 24, 2003. Comments should be sent to: Federal Trade Commission, Office of the Secretary, 600 Pennsylvania Ave., N.W., Washington, DC 20580. (FTC File No. 021-0040, Docket No. C-4058; staff contact is Daniel P. Ducore, Bureau of Competition, 202-326-2526; see press releases dated August 30 and September 20 and 24, 2002; and January 14 and January 21, 2003.)

Copies of the documents mentioned in this release are available from the FTC's Web site at http://www.ftc.gov and also from the FTC's Consumer Response Center, Room 130, 600 Pennsylvania Avenue, N.W., Washington, D.C. 20580. Call toll-free: 1-877-FTC-HELP.