ConocoPhillips Strikes Deal with Marathon Oil
Ticker: COP · Form: 8-K · Filed: 2024-05-29T00:00:00.000Z
Sentiment: neutral
Topics: acquisition, definitive-agreement, energy
TL;DR
COP buys MRO, deal inked May 28th.
AI Summary
On May 28, 2024, ConocoPhillips entered into a Material Definitive Agreement related to its acquisition of Marathon Oil Corporation. The agreement outlines the terms and conditions for this significant transaction in the energy sector.
Why It Matters
This acquisition by ConocoPhillips, a major energy producer, signifies a major consolidation within the oil and gas industry, potentially impacting market dynamics and competition.
Risk Assessment
Risk Level: medium — Acquisitions of this scale carry inherent risks related to integration, regulatory approval, and market reception.
Key Players & Entities
- ConocoPhillips (company) — Registrant and acquirer
- Marathon Oil Corporation (company) — Target company being acquired
- May 28, 2024 (date) — Date of the material definitive agreement
FAQ
What type of agreement did ConocoPhillips enter into on May 28, 2024?
ConocoPhillips entered into a Material Definitive Agreement.
What is the primary purpose of this Material Definitive Agreement?
The agreement is related to the acquisition of Marathon Oil Corporation.
Who is the acquiring company in this transaction?
ConocoPhillips is the acquiring company.
Who is the company being acquired?
Marathon Oil Corporation is the company being acquired.
On what date was this agreement reported?
The earliest event reported was on May 28, 2024, and the report was filed on May 29, 2024.
From the Filing
0001104659-24-065814.txt : 20240529 0001104659-24-065814.hdr.sgml : 20240529 20240529071635 ACCESSION NUMBER: 0001104659-24-065814 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 33 CONFORMED PERIOD OF REPORT: 20240528 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240529 DATE AS OF CHANGE: 20240529 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CONOCOPHILLIPS CENTRAL INDEX KEY: 0001163165 STANDARD INDUSTRIAL CLASSIFICATION: PETROLEUM REFINING [2911] ORGANIZATION NAME: 01 Energy & Transportation IRS NUMBER: 010562944 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-32395 FILM NUMBER: 24994004 BUSINESS ADDRESS: STREET 1: 925 N. ELDRIDGE PARKWAY CITY: HOUSTON STATE: TX ZIP: 77079 BUSINESS PHONE: 281-293-1000 MAIL ADDRESS: STREET 1: SHIPPING & RECEIVING CENTER STREET 2: 16930 PARK ROW DR. CITY: HOUSTON STATE: TX ZIP: 77084 FORMER COMPANY: FORMER CONFORMED NAME: CORVETTEPORSCHE CORP DATE OF NAME CHANGE: 20011204 8-K 1 tm2415645d1_8k.htm FORM 8-K false 0001163165 0001163165 2024-05-28 2024-05-28 0001163165 us-gaap:CommonStockMember 2024-05-28 2024-05-28 0001163165 cop:SevenPercentDebenturesDueTwentyTwentyNineMember 2024-05-28 2024-05-28 iso4217:USD xbrli:shares iso4217:USD xbrli:shares       UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549    FORM 8-K   CURRENT REPORT   Pursuant to Section 13 or 15(D) of the Securities Exchange Act of 1934   Date of Report (Date of earliest event reported): May 29, 2024 ( May 28, 2024 )       ConocoPhillips (Exact name of registrant as specified in its charter)       Delaware   001-32395   01-0562944 (State or other jurisdiction of incorporation)   (Commission File Number)   (IRS Employer Identification No.)   925 N. Eldridge Parkway Houston , Texas 77079 (Address of principal executive offices and zip code)   (Registrant’s telephone number, including area code) ( 281 ) 293-1000   Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:   x    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)   ¨    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)   ¨    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))   ¨    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))    Securities registered pursuant to Section 12(b) of the Act:   Title of each class   Trading Symbol(s)   Name of each exchange on which registered Common Stock, $.01 Par Value   COP   New York Stock Exchange 7% Debentures due 2029   CUSIP – 718507BK1   New York Stock Exchange   Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).   Emerging growth company   ¨   If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.    ¨           Item 1.01. Entry Into a Material Definitive Agreement.   On May 28, 2024, ConocoPhillips, a Delaware corporation (“ ConocoPhillips ”), ent