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ConocoPhillips buying Marathon Oil for $17.1 billion in all-stock deal as energy prices rise

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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 is valued at $22.5 billion when including $5.4 billion in debt.

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.Crude prices have jumped more than 12% this year and the cost for a barrel rose above $80 this week.

ConocoPhillips said Wednesday that the transaction will add highly desired acreage to its existing U.S. onshore portfolio.

 

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ConocoPhillips buying Marathon Oil for $17.1 billion in all-stock deal, plus $5.4 billion in debtNEW YORK (AP) — ConocoPhillips is buying Marathon Oil in an all-stock deal valued at approximately $17.1 billion.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »