ConocoPhillips to Buy Marathon Oil in $22 5B Deal oedigital.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from oedigital.com Daily Mail and Mail on Sunday newspapers.
HOUSTON (Reuters) -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. 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.