Marathon Oil Corporation’s Post

Strategic move to widen the overall energy footprint.

ConocoPhillips Makes Mega-Move: $22.5 Billion Marathon Oil Acquisition The energy sector is witnessing a mega-merger as ConocoPhillips has agreed to acquire Marathon Oil for a staggering USD$22.5 billion, creating a North American energy giant with a robust presence across the continent. This move signifies industry consolidation and has the potential to impact global oil production and exploration activities. Key Points: ✅ Mega-Merger: ConocoPhillips will acquire Marathon Oil in an all-stock transaction valued at USD$22.5 billion, creating a larger and more diversified energy player. ✅ North American Domination: The combined company will boast a strong presence across major shale plays in the United States and Canada, positioning them for increased production and market share ✅ Global Impact: This consolidation could have implications for global oil production and potentially influence exploration strategies in other regions. ✅ Cost Savings & Efficiencies: The merger is expected to generate significant cost savings and operational efficiencies for the combined company. Food for Thought: Will this consolidation increase efficiency and innovation, or will it limit competition and hinder progress toward cleaner energy sources? How will this consolidation impact the global oil market and exploration activities in other regions? What are your thoughts on this consolidation? #Energy #OilAndGas #Merger #ConocoPhillips #MarathonOil #NorthAmerica #ShaleOil #EnergySecurity #Investment #Sustainability

ConocoPhillips, a provider of oil exploration and production services, agreed to acquire Marathon Oil Corporation, an independent oil and gas exploration and production company, for $22.5bn. "This is a proud moment to look back on what we achieved at Marathon Oil. Powered by our dedicated employees and contractors, we built a top performing portfolio with a multi-year track record of peer-leading operational execution, strong financial results and compelling return of capital to our shareholders - all while holding true to our core values of safety and environmental excellence. ConocoPhillips is the right home to build on that legacy, offering a truly unique combination of added scale, resilience and long-term durability. With its premier global asset base, strong balance sheet and laser focus on operational excellence, ConocoPhillips' track record of long-term investments, differentiated shareholder distributions and active portfolio management are unmatched. When combined with the global ConocoPhillips portfolio, I'm confident our assets and people will deliver significant shareholder value over the long term," Lee Tillman, Marathon Oil Chairman, President and CEO. ConocoPhillips (led by Ryan Lance) is advised by Evercore and Wachtell, Lipton, Rosen & Katz (led by Gregory Ostling and Zachary Podolsky). Marathon Oil (led by Lee Tillman) is advised by Morgan Stanley and Kirkland & Ellis. #MergersAcquisitionsDivestitures #Energy #OilandGas

Marathon O&G pros: How are all of you doing with the ConocoPhillips acquisition? These are the listed transaction 'benefits' for Conoco: Immediately accretive: This acquisition is immediately accretive to ConocoPhillips on earnings, cash from operations, free cash flow and return of capital per share to shareholders. Delivers significant cost and capital synergies: Given the adjacent nature of the acquired assets and a common operating philosophy, ConocoPhillips expects to achieve the full $500 million of cost and capital synergy run rate within the first full year following the closing of the transaction. The identified savings will come from reduced general and administrative costs, lower operating costs and improved capital efficiencies. Further enhances premier Lower 48 portfolio: This acquisition will add highly complementary acreage to ConocoPhillips’ existing U.S. onshore portfolio, adding over 2 billion barrels of resource with an estimated average point forward cost of supply of less than $30 per barrel WTI. What do you think? Is it the right move? It seems like so many great independent E&Ps are being gobbled up by super majors. I've committed to leading some Lunch & Learn sessions for Marathon pros this quarter here in Houston, so I'll keep you updated on upcoming opportunities. If you need to chat about updating your materials, feel free to reach out! #oilgas #oilandgas #oilandgasindustry #energy #petroleum

Wow. News. ⚡️Acquisition of Marathon Oil Corporation is expected to be immediately accretive to earnings, cash flows and return of capital per share. ⚡️- ConocoPhillips expects to achieve at least $500 million of run rate cost and capital savings within the first full year following the closing of the transaction. ⚡️ Independent of the transaction, ConocoPhillips expects to increase its ordinary base dividend by 34% to 78 cents per share starting in the fourth quarter of 2024. ⚡️Upon closing of the transaction, ConocoPhillips expects share buybacks to be over $20 billion in the first three years, with over $7 billion in the first full year, at recent commodity prices.

🛢️ ConocoPhillips to acquire Marathon Oil Corporation 🛢️ Another merger in the Energy sector, this one worth a cool $22.5 billion and including assets across the USA from North Dakota down through Texas. Rising oil prices and profits are driving some of the largest players to expand further through takeovers, including ExxonMobil with Pioneer and Chevron with Hess 📈 💡 Will be interesting to see whether we will see the same Downstream... #oilandgas #energy #aquisition

Huge news to come back to! More and more mergers on the horizon, more and more companies needing to consider climate liability as operations, and emissions, are inherited. #manda #merger #oilnews #emissions

Interesting Acquisition. More consolidation in the oil and gas market.

Here's what this could mean for the industry: Increased demand for talent: As ConocoPhillips integrates Marathon's operations, they may need to fill new roles across various disciplines. Focus on operational efficiency: Mergers often lead to a focus on streamlining operations. This could create opportunities for specialists in areas like cost optimization and process improvement. Shifting talent landscape: The combined entity might lead to adjustments in workforce needs and locations. Are you a skilled professional in the oil & gas sector? Strategic Contract Resources can help you connect with exciting opportunities at top companies like these. DM me today to discuss your career goals! #oilandgasjobs #conocophillips #marathon #staffing #energy #careers #hiring

More Megadeals in the Oil Industry going on. Read about it in this repost.