ConocoPhillips to acquire Marathon Oil for $22.5bn.

ConocoPhillips, a provider of oil exploration and production services, agreed to acquire Marathon Oil, 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.