ConocoPhillips is buying Marathon Oil in an all-stock deal valued at approximately $17.1 billion as energy prices rise and big oil companies reap massive profits.
This is a Marathon gas station in Bradenton, Fla., Feb. 7, 2024. ConocoPhillips is buying Marathon Oil in an all-stock deal valued at approximately $17.1 billion. The deal announced Wednesday, May 29, 2024, is valued at $22.5 billion when including $5.4 billion in debt. Crude prices have jumped more than 12% this year and the cost for a barrel rose above $80 this week.
As part of the ConocoPhillips transaction, Marathon Oil shareholders will receive 0.2550 shares of ConocoPhillips common stock for each share of Marathon Oil common stock that they own, the companies said Wednesday.Gas is about to get more expensive in Denver thanks to northern Colorado’s bad air.
The deal is expected to close in the fourth quarter. It still needs approval from Marathon Oil stockholders. Denver Civil Service Commission fires director on day she alleges mayoral pressure on police recruit qualifications
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
ConocoPhillips to buy Marathon Oil in $17 billion all-stock deal that bolsters shale assetsThe acquisition will add 2 billion barrels of resources to ConocoPhillips’ portfolio, extending its reach in shale fields in Texas, New Mexico and North…
Read more »
ConocoPhillips to buy Marathon Oil in $17 billion dealIt's the latest domino to fall in the rapid consolidation of large U.S.-based players.
Read more »
ConocoPhillips buying Marathon Oil for $17.1 billion in all-stock deal, plus $5.4 billion in debtConocoPhillips 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
Read more »
ConocoPhillips buying Marathon Oil for $17.1 billion in all-stock deal, plus $5.4 billion in debtConocoPhillips is buying Marathon Oil in an all-stock deal valued at approximately $17.1 billion.
Read more »
ConocoPhillips to acquire Marathon Oil for $17.1 billion all-stock dealCrude prices have jumped more than 12% this year and the cost for a barrel rose above $80 this week.
Read more »
ConocoPhillips buying Marathon Oil for $17.1 billion in all-stock dealConocoPhillips is buying Marathon Oil in an all-stock deal valued at approximately $17.1 billion as energy prices soar and big oil companies reap massive profits
Read more »