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ConocoPhillips 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. The deal announced Wednesday is
ConocoPhillips will buy fellow US oil and gas producer Marathon Oil in an all-stock deal worth $17.1bn.
ConocoPhillips said the transaction will add highly desired acreage to its existing U.S. onshore portfolio.
The announcement follows Hess shareholders' approval of a takeover by Chevron
ConocoPhillips is buying Findlay-based Marathon Oil in an all-stock deal valued at approximately $17.1 billion as energy prices soar and big oil companies reap massive profits.