ConocoPhillips acquired Marathon Oil in an all-stock deal valued at $22.5B (incl. $5.4B net debt). The deal added 2B barrels of resources across the Eagle Ford, Bakken, and Permian basins, with expected $500M in annual cost and capital synergies within the first full year.
ConocoPhillips Acquires Marathon Oil
Acquirer
ConocoPhillips
→
Target
Marathon Oil
2024
Year
🇺🇸 United States
Country
Merger
Deal Type
Deal Value
Sector
Upstream
Subsector
Conventional Oil
Industry
Oil and Gas
Date Added
Jun 22, 2026
Status
Completed
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