All articles tagged with #marathon oil
Chevron is acquiring Hess for $53 billion, and ConocoPhillips is buying Marathon Oil for $22.5 billion, as consolidation in the oil sector continues amid high crude prices. These deals are expected to significantly boost the sales and portfolios of both Chevron and ConocoPhillips, though they still require regulatory approvals.
ConocoPhillips announced a $22.5 billion all-stock acquisition of Marathon Oil, including $5.4 billion in debt. Marathon Oil shareholders will receive a 14.7% premium on their shares. The deal, expected to close in Q4, will enhance Conoco's shale assets and increase its market capitalization to over $150 billion. ConocoPhillips plans to boost its dividend and repurchase more than $20 billion in shares over the next three years. Marathon Oil stock rose 8.5%, while ConocoPhillips shares fell 3% following the announcement.
ConocoPhillips has agreed to acquire Marathon Oil for $22.5 billion in an all-stock deal, marking the latest major consolidation in the U.S. energy sector. The acquisition, expected to close in Q4 2024, will add over 2 billion barrels of reserves to ConocoPhillips' portfolio and is anticipated to generate $500 million in cost savings within the first year. The deal follows other significant mergers in the industry and has raised some antitrust concerns, although the FTC views the impact on the global market as minimal.
ConocoPhillips is acquiring Marathon Oil in an all-stock deal valued at $17.1 billion, or $22.5 billion including debt, amid rising energy prices. The acquisition, expected to close in the fourth quarter, will add valuable acreage to ConocoPhillips' U.S. onshore portfolio. The deal follows a trend of mergers in the energy sector, though it may face antitrust scrutiny from U.S. regulators. Marathon Oil shareholders will receive 0.2550 shares of ConocoPhillips stock for each share they own. ConocoPhillips plans to increase its dividend and repurchase shares post-acquisition.
Shareholders of Hess have approved its $53 billion sale to Chevron, pending regulatory approval and arbitration with ExxonMobil. ConocoPhillips is set to acquire Marathon Oil in a $17.1 billion all-stock deal, expanding its domestic footprint. Both deals signify major consolidations in the energy sector.
ConocoPhillips has agreed to acquire Marathon Oil in an all-stock deal valued at $22.5 billion, including $5.4 billion of debt. Marathon shareholders will receive 0.255 ConocoPhillips shares per Marathon share, a 14.7% premium. The merger is part of a broader trend of consolidation in the oil industry, with major companies like ExxonMobil and Chevron also making significant acquisitions. The deal is expected to close in the fourth quarter of 2024, pending shareholder and regulatory approval.
ConocoPhillips has agreed to acquire Marathon Oil in a deal valued at $22.5 billion, marking a significant consolidation in the energy sector.
ConocoPhillips is acquiring Marathon Oil in an all-stock deal valued at $17.1 billion, or $22.5 billion including debt, amid rising energy prices. The transaction, expected to close in the fourth quarter, will add valuable acreage to ConocoPhillips' U.S. onshore portfolio. Marathon Oil shareholders will receive 0.2550 shares of ConocoPhillips stock per Marathon share. The deal follows a trend of major oil company mergers and could face regulatory scrutiny. ConocoPhillips also plans to increase its dividend and repurchase over $20 billion in shares within three years.
ConocoPhillips is acquiring Marathon Oil for $17.1 billion in an all-stock deal valued at $22.5 billion including debt, continuing the trend of consolidation in the energy sector. The acquisition, expected to close in the fourth quarter, will enhance ConocoPhillips' portfolio and financial framework. The company also plans to increase its dividend by 34% and repurchase over $20 billion in shares within three years. This follows a record $234 billion in energy mergers and acquisitions in 2023.
ConocoPhillips has agreed to acquire Marathon Oil in a $22.5 billion all-stock deal, marking the latest consolidation in the oil industry driven by high commodity prices and record profits. The acquisition will integrate Marathon's high-quality assets in key oil fields with Conoco's operations, promising significant synergies.
Stocks making significant moves in premarket trading include Marathon Oil, Robinhood, American Airlines, and Chewy, among others.
ConocoPhillips has agreed to acquire Marathon Oil for $22.5 billion in an all-stock deal, marking the latest major consolidation in the U.S. energy sector. The acquisition, expected to close in Q4 2024, will add over 2 billion barrels of reserves to ConocoPhillips' portfolio and is anticipated to generate $500 million in cost savings within the first year. The deal follows other significant mergers in the industry and has raised some antitrust concerns, though the FTC views the impact on the global market as minimal.
ConocoPhillips has agreed to acquire Marathon Oil in an all-stock deal valued at $17 billion, expanding its presence in US shale fields and adding reserves in Equatorial Guinea. The acquisition, which offers a 14.7% premium on Marathon's last closing share price, is part of a broader trend of consolidation in the oil and gas industry. The deal, expected to close in the fourth quarter pending regulatory approval, will add 2 billion barrels to ConocoPhillips' inventory and increase its share buybacks and dividends.
ConocoPhillips is set to acquire Marathon Oil Corporation in an all-stock transaction valued at $22.5 billion, including $5.4 billion of net debt. The acquisition is expected to be immediately accretive to ConocoPhillips' earnings, cash flows, and return of capital per share, with anticipated cost and capital savings of at least $500 million within the first year. ConocoPhillips also plans to increase its base dividend by 34% and repurchase over $20 billion in shares within the first three years post-transaction. The deal is expected to close in the fourth quarter of 2024, pending regulatory and shareholder approvals.
ConocoPhillips is in advanced talks to acquire Marathon Oil Corp. in an all-stock deal valued at over $15 billion, according to sources. This acquisition would expand Conoco's presence in US shale fields and continues a trend of consolidation in the oil and gas industry. An announcement could be made as soon as Wednesday.