ConocoPhillips to buy Marathon Oil in $22bn deal
ConocoPhillips confirmed on Wednesday that it has agreed to buy Marathon Oil in an all-share deal worth $22bn.
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ConocoPhillips confirmed on Wednesday that it has agreed to buy Marathon Oil in an all-share deal worth $22bn.
US energy giant ConocoPhillips announced Wednesday that it will acquire competitor Marathon Oil in an all-stock transaction valued at $22.5 billion, including $5.4 billion in debt. The deal, the latest in a series of major acquisitions in the US oil sector, will enable ConocoPhillip ..
Houston-based ConocoPhillips is buying Marathon Oil in an all-stock deal as energy prices rise and big oil companies reap massive profits.
Oil and liquids-weighted Marathon is active in the Bakken, Permian and Eagle Ford basins in the US. [Image: Marathon Oil]
The US oil and gas industry has been riding a consolidation wave over the past two years