COP · News · 20260930N
Acquisition / Partnership / Divestiture
CONOCOPHILLIPS · 2026-09-30 · Importance 71 · Surprise 60 · In source text
ConocoPhillips completed its acquisition of Marathon Oil Corporation for $22.5 billion in November 2024. The transaction ended Marathon Oil's status as an independent public company. ConocoPhillips integrated Marathon Oil's exploration and production assets into its broader portfolio, representing a material portfolio expansion above the company’s stated materiality threshold.
Key facts
- ConocoPhillips acquired Marathon Oil Corporation in a USD 22.5 billion deal completed in November 2024. source
- ConocoPhillips is expanding its liquefied natural gas capacity. source
- The Marathon Oil acquisition integrated Marathon Oil's exploration and production assets into ConocoPhillips' larger portfolio. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| assets | positive | realized | — | ConocoPhillips acquired Marathon Oil Corporation in a USD 22.5 billion deal completed in November 2024. |
| revenue | positive | realized | — | ConocoPhillips acquired Marathon Oil Corporation in a USD 22.5 billion deal completed in November 2024. |