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ConocoPhillips (NYSE: COP) made a splash on May 29 when it announced an all-stock acquisition of Marathon Oil (NYSE: MRO).The purchase price represents a 14.7% premium to the closing price of ...
Marathon Oil shareholders will receive 0.255 ConocoPhillips shares for each Marathon share they own, representing a 14.7% premium to the closing price on Tuesday. ... The merger of the Houston ...
ConocoPhillips Chairman-CEO Ryan Lance said the merger "further deepens our portfolio and fits within our financial framework, adding the high-quality, low-cost of supply inventory adjacent to our ...
In 2011, Marathon completed the corporate spin-off of Marathon Petroleum, distributing a 100% interest to its shareholders. [18] In June 2013, Marathon sold its Angolan oil and gas field to Sinopec for $1.52 billion. [19] In September 2013, Marathon sold a 10% stake in an oil and gas field offshore Angola for $590 million to Sonangol Group. [20]
The merger brought the two companies' expertise together, ... In November 2024, ConocoPhillips acquired Marathon Oil in a $22.5 billion transaction. [69] [70]
The rally was due to the merger agreement that was struck on Wednesday with oil and gas giant ConocoPhillips (NYSE: COP), which agreed to acquire Marathon for an enterprise value of $22.5 billion.
In 2021, the company was acquired by ConocoPhillips. As of December 31, 2019, the company had 1,002 million barrels of oil equivalent (6.13 × 10 9 GJ) of estimated proved reserves, of which 63% was petroleum and natural gas liquids and 37% was natural gas. Of these reserves, 55% were in the Delaware Basin and 45% were in the Midland Basin. [1]
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.
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