This is a Marathon gas station in Bradenton, Fla., Feb. 7, 2024. ConocoPhillips is buying Marathon Oil in an all-stock deal valued at approximately $17.1 billion. The deal announced Wednesday, May 29, 2024, is valued at $22.5 billion when including $5.4 billion in debt. Crude prices have jumped more than 12% this year and the cost for a barrel rose above $80 this week.
As part of the ConocoPhillips transaction, Marathon Oil shareholders will receive 0.2550 shares of ConocoPhillips common stock for each share of Marathon Oil common stock that they own, the companies said Wednesday.Gas is about to get more expensive in Denver thanks to northern Colorado’s bad air.
The deal is expected to close in the fourth quarter. It still needs approval from Marathon Oil stockholders. Denver Civil Service Commission fires director on day she alleges mayoral pressure on police recruit qualifications
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