Big Law

ConocoPhillips Will Buy Marathon Oil For $22.5 Billion

Top U.S. independent oil and gas producer ConocoPhillips on Wednesday agreed to buy Marathon Oil for $22.5 billion, the latest in a series of mega-deals in the energy industry.

The U.S. oil and gas industry has been riding a consolidation wave over the last two years as companies look to bolster reserves and create economies of scale. Last year was one of the most active, with some $250 billion in deals struck. The momentum has carried over into this year as the stock market continues to boom and as U.S. shale oil production scales new records.

Read more at Yahoo! Finance

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