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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 ...
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 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.
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.
Along with sister brands, Phillips 66, and 76, "Conoco" (IPA: [ˈkɒnəkoʊ]), [39] is a major American brand of oil and gas station that has been owned by Phillips 66 since 2012 and was originally the brand used by its originator, Conoco Inc., from 1875 to its merger with Phillips Petroleum in 2002. Although the Conoco brand can be used in any ...
At the end of May 2024, ConocoPhillips announced that it was planning to buy Marathon Oil. The deal was fully consummated last week. From a big-picture perspective, that was pretty solid execution ...