This Top Oil Stock Is Looking to Ring Up a $1 Billion Sale Following Its Massive Acquisition
ConocoPhillips (NYSE: COP) closed its massive $22.5 billion acquisition of Marathon Oil last November. That deal bolstered its U.S. onshore position in several key regions while expanding its international operations. The company expects the highly accretive deal to enable it to produce significantly more free cash flow in the coming years, which will give it more money to return to shareholders. The acquisition of Marathon enabled ConocoPhillips to upgrade its already strong portfolio of low-cost oil and gas resources. That's allowing the company to trim away some of the edges of its portfolio to further strengthen its financial position. As a result, the company's wheeling and dealing is enabling it to get bigger and better.ConocoPhillips' acquisition of Marathon Oil added highly complementary acreage to the company's existing U.S. onshore portfolio in the Permian, Eagle Ford, and Bakken regions. The company brought in more than 2 billion barrels of resources with an average supply cost below $30 per barrel. In addition, Marathon had assets in the Anadarko region of Oklahoma and Equatorial Guinea. Continue reading
ConocoPhillips (NYSE: COP) closed its massive $22.5 billion acquisition of Marathon Oil last November. That deal bolstered its U.S. onshore position in several key regions while expanding its international operations. The company expects the highly accretive deal to enable it to produce significantly more free cash flow in the coming years, which will give it more money to return to shareholders.
The acquisition of Marathon enabled ConocoPhillips to upgrade its already strong portfolio of low-cost oil and gas resources. That's allowing the company to trim away some of the edges of its portfolio to further strengthen its financial position. As a result, the company's wheeling and dealing is enabling it to get bigger and better.
ConocoPhillips' acquisition of Marathon Oil added highly complementary acreage to the company's existing U.S. onshore portfolio in the Permian, Eagle Ford, and Bakken regions. The company brought in more than 2 billion barrels of resources with an average supply cost below $30 per barrel. In addition, Marathon had assets in the Anadarko region of Oklahoma and Equatorial Guinea.
