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The purchase price represents a 14.7% premium to the closing price of Marathon on May 28, giving the company an enterprise value (market cap plus debt) of $22.5 billion.
Source: Jonathan Weiss/shutterstock.com Marathon Oil (NYSE:MRO) lost ground for the third session in a row on Wednesday. The 1.5% slide came even as the Energy Sector (NYSEARCA:XLE) closed up 0.6% ...
Bates Oil — Ireland; Bemol — Moldova; Best — Norway; Bharat Petroleum — India; BP (advertising tagline "Beyond Petroleum"; initials stood for British Petroleum, but with the merger of Amoco in 1998, BP is the actual corporate name) Amoco — United States, was used as a fuel grade until BP brought it back as a fuel brand in 2017
ConocoPhillips's plans to acquire independent oil and gas producer Marathon Oil in an all-stock deal for $22.5 billion including debt continues a recent string of deals in the energy space.
In 2001, USX spun off Marathon under the name Marathon Oil Corporation. In 2011, Marathon Oil spun off its downstream operations as Marathon Petroleum . As of December 31, 2020, the company had 972 million barrels of oil equivalent (5.95 × 10 9 GJ) of estimated proven reserves, of which 86% was in the United States and 14% was in Equatorial ...
ConocoPhillips is buying Marathon Oil in an all-stock deal valued at approximately $17.1 billion. As part of the transaction, Marathon Oil shareholders will receive 0.2550 shares of ConocoPhillips ...
The acquisition price represents a 14.7% premium to the closing share price of Marathon Oil on May 28, 2024, and a 16.0% premium to the prior 10-day volume-weighted average price.
Marathon Petroleum Corporation (NYSE:MPC) shares are trading higher after its third-quarter results. Total revenues and other income of $35.4 billion topped the consensus of $32.8 billion.
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