ConocoPhillips path to acquiring Marathon Oil Corp. has passed another mile stone, with Marathon shareholders voting to approve the merger. (Source: Shutterstock, ConocoPhillips, Marathon Oil, PR Newswire)
ConocoPhillips path to acquiring Marathon Oil Corp. has passed another mile stone, with Marathon shareholders voting to approve an all-stock transaction for approximately $17.1 billion, the companies said on Aug. 29.
The deal, which is valued at $22.5 billion including $5.4 billion of net debt, was first announced in May. The merger is still under review by the Federal Trade Commission after it sought a second request for information from the companies in July.
Marathon Oil will file the vote results of the special stockholder meeting in an 8-K form with the U.S. Securities and Exchange Commission.
Marathon Oil and ConocoPhillips said they continue to expect the transaction to close late in fourth-quarter 2024, subject to regulatory clearance and other customary closing conditions.
Recommended Reading
Dividends Declared Week of July 14
2025-07-18 - With second-quarter earnings underway, here is a compilation of dividends and distributions declared from select upstream, midstream and service and supply companies.
Belcher: How the Big Bill Impacts Oil and Gas
2025-07-18 - A smoother permitting process, incentives to drill and regulatory reform should aid the industry.
SLB Projects Revenue Bump in 2H25 Despite Oil Price Headwinds
2025-07-18 - Facing a softer market and lower upstream spending, SLB is banking on digital growth and its ChampionX acquisition to drive second-half 2025 gains.
Energy Transition in Motion (Week of July 18, 2025)
2025-07-18 - Here is a look at some of this week’s renewable energy news, including elevated reviews for solar and wind projects in the U.S.
PHMSA Cuts Pipeline Safety Enforcement Actions
2025-07-18 - The agency that monitors midstream infrastructure says rule changes led to a record low number of case openings.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.