ConocoPhillips Completes $22.5B Acquisition of Marathon
Transaction Type
Sellers
Buyers
Announce Date
Post Date
Close Date
Estimated Price
22500BB
Description
ConocoPhillips Co. has completed its acquisition of Marathon Oil Corp. for approximately $17.1 billion—$22.5 billion including $5.4 billion of net debt, the Houston-based E&P announced Nov. 22.
The deal, which was announced in May, adds complementary acreage to ConocoPhillips’ Lower 48 portfolio with more than 2 Bbbl of resource. It includes an estimated average point forward cost of supply of less than $30/bbl West Texas Intermediate.