ConocoPhillips said it signed a definitive agreement to acquire Marathon Oil Corporation in an all-stock transaction in May 2024, with an enterprise value of about $22.5 billion. Marathon Oil stockholders will receive 0.255 shares of ConocoPhillips common stock for each Marathon Oil share.

1. 01

   ConocoPhillips said it signed a definitive agreement to acquire Marathon Oil Corporation in an all-stock transaction in May 2024, with an enterprise value of about $22.5 billion. Marathon Oil stockholders will receive 0.255 shares of ConocoPhillips common stock for each Marathon Oil share.

2. 02

   The company said production was 1,945 MBOED in Q2 2024, up 140 MBOED from a year earlier, and that cash provided by operating activities for Q2 was $4.9 billion.

3. 03

   The company cited the main uses of its available cash in the first six months of 2024 as capital expenditures and investments of $5.9 billion, share repurchases of $2.3 billion, ordinary dividend and VROC payments of $1.8 billion, and debt retirements at maturity of $0.6 billion.

4. 04

   The company said that as of June 30, 2024 it had total liquidity of $11.5 billion, consisting of cash and cash equivalents of $4.3 billion, short-term investments of $1.7 billion, and available borrowing capacity under its credit facility of $5.5 billion.

Key figures

Quarter ended June 30, 2024

Revenue

$12.7B

Net income

$2.3B

EPS

$1.98

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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