The Continental Oil and Transportation Company was founded in 1875. Based in Ogden, Utah, the company distributed oil, kerosene, benzene, and other products in the western United States. The main office was later moved to Ponca City, Oklahoma, when in 1929, Marland Oil Company (founded by exploration pioneer E. W. Marland) acquired the Continental Oil Company.^[3][5] Marland Oil acquired the assets (subject to liabilities) of Continental Oil Company for a consideration of 2,317,266 shares of stock. At that time, Marland Oil changed its name to Continental Oil Company. The acquisition gave Conoco the red triangle symbol previously used by Marland and would become Conoco's logo from 1930 to 1970, when the now-familiar capsule logo was adopted.^{[citation needed]}

The company ran into early trouble when, shortly after acquisition, it was hit by the Great Crash of October 1929. Conoco became a key supplier to the United States government during World War II.