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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 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 ...
Marathon Oil Corporation (NYSE:MRO) and ConocoPhillips (NYSE:COP) stocks are moving in opposite directions on Wednesday after they disclosed a definitive deal in which ConocoPhillips will acquire ...
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]
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'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.
With the deal’s close, Phillips became the second largest refiner in the U.S. and obtained refineries on both coasts. Even after the Tosco purchase, Phillips sought further expansion. Phillips and Conoco announced a merger in November 2001, forming ConocoPhillips, the new controlling entity of the Ferndale Refinery. This new supermajor ...
Big Oil keeps doing big deals. 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.