ConocoPhillips and Marathon Oil Merge in $22.5 Billion Deal, Extending Industry Consolidation

24.05.29 News

ConocoPhillips has agreed to acquire Marathon Oil for $22.5 billion, continuing a trend of major mergers in the oil and gas sector aimed at strengthening reserves. This follows a highly active year in the industry, with $250 billion in mergers and acquisitions in 2023, driven by a booming stock market and record U.S. oil production.

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