Really? That doesn't seem to make much sense. That's just brand realignment even though they're both well known brands.
Around here we had Exxon and Mobil stations but those brands mostly went away in the 90s. I saw them in other parts of California, but they basically left most of our area. Then they started coming back about 2015. Also Texaco started going away except for the occasional station. It was kind of weird that there were barely any (pre-Chevron merger) Texaco stations when it was very easy to find in the 70s. I remember one in a very prominent location in Oakland next to the freeway. They had this really tall sign that was hard to miss. It's not an independent. Also for some reason a lone Texaco station well into the interior of the campus of Stanford University. That eventually rebranded to Valero, but it was odd how it stayed a Texaco station for so long. Now that station is gone. But a few Texaco stations have popped up. Kind of odd too since Chevron is so dominant.
Yup that's what I have seen during my DFW route travels . On google maps pics they showed Conoco's but now some are new converted over 76's or just shut down indefinitely
On a side note: I grew up(80's/ early 90's) and recently lived in SF bay area (Ya I get around lol) / SF city-Peninsula area. All I remember and used was 76, Olympian and Arco fuels lol. Dont remember Texaco's cause I was in the sandbox playing with my Hot Wheels
Dave