Alvin Trusty
The agreement is expected to be finalized by the conclusion of the fourth quarter of 2024, pending approval from regulatory authorities.
ConocoPhillips, an American oil company, revealed in May their acquisition of MarathonOil for an enterprise value (EV) of $22.5 billion, which encompasses a net debt worth $5.4 billion. The payment will only be made with shares.
Each Marathon shareholder will be given 0.255 shares of Conoco stock per share.
Conoco is planning to increase its dividend by 34% to 78 cents per share starting in the fourth quarter. After the merger is completed, the company will also ramp up its buyback program in the first year to over $7 billion from $5 billion and intends to buy back securities totaling more than $20 billion in the initial three years.
ConocoPhillips anticipates that its production will reach 1.93-1.94 million barrels of oil equivalent per day by 2024.
Marathon Oil predicts that in the second quarter, they will produce between 185-195 thousand barrels per day of oil and 380-400 thousand barrels of oil equivalent per day, which includes natural gas and other hydrocarbons.
source: reuters.com
ConocoPhillips, an American oil company, revealed in May their acquisition of MarathonOil for an enterprise value (EV) of $22.5 billion, which encompasses a net debt worth $5.4 billion. The payment will only be made with shares.
Each Marathon shareholder will be given 0.255 shares of Conoco stock per share.
Conoco is planning to increase its dividend by 34% to 78 cents per share starting in the fourth quarter. After the merger is completed, the company will also ramp up its buyback program in the first year to over $7 billion from $5 billion and intends to buy back securities totaling more than $20 billion in the initial three years.
ConocoPhillips anticipates that its production will reach 1.93-1.94 million barrels of oil equivalent per day by 2024.
Marathon Oil predicts that in the second quarter, they will produce between 185-195 thousand barrels per day of oil and 380-400 thousand barrels of oil equivalent per day, which includes natural gas and other hydrocarbons.
source: reuters.com
