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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]
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 ...
Total's merger with Petrofina in 1999 and with Elf Aquitaine in 2000, with the resulting company subsequently renamed Total S.A. (now TotalEnergies SE) BP's acquisitions of Amoco in 1998 and of ARCO in 2000; Chevron's merger with Texaco in 2001; Conoco and Phillips Petroleum Company merging in 2002 to form ConocoPhillips
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 ...
The merger brought the two companies' expertise together, ... In November 2024, ConocoPhillips acquired Marathon Oil in a $22.5 billion transaction. [69] [70]
ConocoPhillips is buying Marathon Oil in an all-stock deal valued at approximately $17.1 billion. The deal is valued at $22.5 billion when including $5.4 billion in debt.
ExxonMobil is mostly composed of the Standard Oil Company of New Jersey (Jersey Standard) and the Standard Oil Company of New York (Socony). The two companies partnered on a semi-frequent basis during their infancy before pursuing mergers and acquisitions, with Jersey Standard buying Texas-based Humble Oil and Socony merging with Standard descendant Vacuum Oil to form Socony-Vacuum. [3]