ConocoPhillips' Bid for Marathon Oil is Latest Bold O&G Deal

May 30, 2024--Researched by Industrial Info Resources (Sugar Land, Texas)--ConocoPhillips (NYSE:COP) announced it will acquire Marathon Oil Corporation (NYSE:MRO) in an all-stock transaction valued at $22.5 billion, including debt. The transaction is expected to close in the fourth quarter, subject to regulatory clearance and shareholder approval. Industrial Info is tracking more than $3 billion worth of active and planned projects worldwide from ConocoPhillips, not including what it will pick up from Marathon Oil. Marathon Oil's properties include production and pipeline assets in the Wyoming Basin, the Williston Basin of North Dakota and the Eagle Ford Shale of Texas, as well as offshore assets near Equatorial Guinea's Bioko Island. Other companies featured: Devon Energy (NYSE:DVN), Crescent Energy (NYSE:CRGY), SilverBow Resources (NYSE:SBOW), Exxon Mobil Corporation (NYSE:XOM), Hess Corporation (NYSE:HES) and Chevron Corporation (NYSE:CVX)