(WO) – On Thursday, Aug. 29, Marathon Oil Corporation announced it received the necessary stockholder approval for its pending merger with ConocoPhillips.
ConocoPhillips CEO Ryan Lance
Marathon Oil will file the vote results of the special stockholder meeting in a Form 8-K with the U.S. Securities and Exchange Commission. The companies to expect the transaction to close late in the fourth quarter of 2024.
Marathon Oil and ConocoPhillips announced the $22.5 billion merger in May. The deal was attractive to ConocoPhillips because it adds “high-quality, low cost of supply inventory adjacent to our leading U.S. unconventional position,” according to Ryan Lance, ConocoPhillips chairman and chief executive officer. The acquisition will add over 2 Bbbl of resources to its existing onshore U.S. portfolio.
This article was originally posted at www.worldoil.com
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