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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 ...
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.
Aug. 7—ConocoPhillips had a busy second quarter, progressing on its new Willow Project oilfield in the National Petroleum Reserve on the North Slope of Alaska, its $22.5-billion merger with ...
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]
Debuting as one of the largest IPOs in history, Conoco merged with the Phillips Petroleum Company to form ConocoPhillips in the early 2000s. [28] [29] Similar to Marathon's business strategy, ConocoPhillips would later divest its downstream assets into a new company titled Phillips 66, which currently controls the original Conoco brand name. [30]
ConocoPhillips said Wednesday it had agreed to buy Marathon Oil in an all-stock deal worth $22.5 billion, including about $5.4 billion of debt. ... Marathon Oil shareholders will receive 0.255 ...
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. The civil complaint, filed in January 2013, alleged that the companies violated state laws on the operation and maintenance of underground gasoline storage tanks ...
May 30—ConocoPhillips and Marathon Oil just jumped on the merry-go-round of mergers that the energy industry has seen in recent months with ConocoPhillips having been the last of the major oil ...