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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.
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 Corporation was an American company engaged in hydrocarbon exploration. In November 2024, it was acquired by ConocoPhillips and absorbed into the company. Marathon was founded in Lima, Ohio as the Ohio Oil Company. In 1899, the company was acquired by the Standard Oil Company (New Jersey).
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.
[11] [15] By January 2002, the groups organizing the merger had selected Houston as the site of the headquarters. The merger brought the two companies' expertise together, allowing the new company to develop megaprojects involving remote natural gas supplies. [16] Governor of Oklahoma Frank Keating said that the move to Houston was "regrettable ...
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 ...
Mobil Corporation, the nation's second-largest oil company at the time, also joined the bid, and borrowed $5 billion to bid for Cocono. [20] In the end, Seagram and Mobil lost out in the Conoco bidding war. [21] In exchange for its stake in Conoco Inc, Seagram became a 24.3% owner (almost one-quarter of stock / interest) of the DuPont company.
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 ...