ConocoPhillips to Acquire Marathon Oil Corporation in All-Stock Transaction "This is a proud moment to look back on what we achieved at Marathon Oil. Together, we developed a top-performing portfolio and delivered consistent results while holding true to our core values of safety and environmental excellence. ConocoPhillips is the right home to build on that legacy with its premier global asset base, a strong balance sheet and a laser focus on operational excellence. Its track record of long-term investments, peer-leading distributions and active portfolio management are unmatched. When added to the global ConocoPhillips portfolio, our assets and people will deliver significant shareholder value over the long term," said Marathon Oil chairman, president and chief executive officer Lee Tillman. https://mro.bz/4bO1Jkm
I spent 12 years as an executive at ConocoPhillips and two years at Marathon. Let me say ConocoPhillips is a better run company and all Marathon shareholders I advise holding on to your COP shares. You will do well.
12 years at MEGPL, this is a great move for the assets, a great move for the new company and the staff are just amazing, I am sure all the boys and girls still there will show case MEGPL for a brilliant place to be.
Sad day
😱😢
This was such a mixed bag of news. It was a shock to see it on the first page on the WSJ yesterday. Happy to see COP gaining ground, feeling for all the Marathon employees who are about to go through an acquisition, and taking a very personal trip down memory lane. It looks like ConocoPhillips is one of the last mid-size independents left standing after everything that shook out in the 2014-2018 years... I LOVED working there, but I'm not sure how I feel about what this means for the industry as a whole.
The best for the new owner... A new vision could bring a better path to follow... Best wishes to ConocoPhillips
What a bad mistake. Marathon must be one of the worst oil companies ever
Could have bought COP if management had listened to the New Ventures group and farmed in with a smaller independent in 1994 and discovered the Zafiro field offshore Equatorial Guinea.
Custodian | Geoscience Advisor l Technical Assurance at PETRONAS
2moThis is very touching news for a few of us who have worked for both the companies in their oil and gas career. I have vivid memories of Geomodeling with stalwarts in both Marathon Oil Sands and ConocoPhillips Canada. During my time Marathon split into MPC ( Marathon Petroleum Corporation) and MRO ( Marathon Oil Corporation). Marathon split of upstream and downstream propelled a trend of split in the industry such as ConocoPhillips and Phillips 66. Interesting times we live in.