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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 ...
Shares of Marathon were up more than 10% in premarket trade, while Conoco stock was down about 2%. The merger of the Houston-based rivals follows ExxonMobil’s $60 billion purchase of Pioneer and ...
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 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]
Announced Wednesday in Houston, headquarters for both corporations, it was an all-stock transaction with an enterprise value of $22.5 billion inclusive of ... ConocoPhillips-Marathon Oil come to terms
In June 2011, ConocoPhillips China Inc., a wholly owned subsidiary of ConocoPhillips, was responsible for the 2011 Bohai bay oil spills in Bohai Bay. [ 81 ] In 2015, ConocoPhillips and Phillips 66 agreed to pay $11.5 million to settle a lawsuit alleging that hundreds of their gas stations violated California anti-pollution laws since 2006.
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 ...
In 2012, ConocoPhillips divested its refining and marketing business, which included the 76 brand, through the formation of Phillips 66. [ 9 ] In 2016, Saudi Aramco -owned Motiva Enterprises signed a deal with Phillips 66 Company which would allow Motiva to use the 76 brand on some of its stations in its 26 eastern and Gulf Coast states ...