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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 ...
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 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 May 2019, ConocoPhillips settled a lawsuit with homeowners in northwestern Oklahoma City who accused the company of polluting their soil and water to such a degree that no trees or flowers will grow. [83] In May 2017, ConocoPhillips agreed to a $39 million settlement to resolve complaints brought by New Jersey over groundwater contamination.
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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.
In 2021, the company was acquired by ConocoPhillips. As of December 31, 2019, the company had 1,002 million barrels of oil equivalent (6.13 × 10 9 GJ) of estimated proved reserves, of which 63% was petroleum and natural gas liquids and 37% was natural gas. Of these reserves, 55% were in the Delaware Basin and 45% were in the Midland Basin. [1]