ConocoPhillips closes Marathon Oil acquisition; expects >$1B run-rate synergies

CONOCOPHILLIPS

Each MRO share converted to 0.255 COP shares; deal effective Nov 22, 2024.
Expected to deliver over $1 billion in run-rate synergies within 12 months.
HSR Act waiting period expired Nov 20, 2024 after Second Request compliance.
ConocoPhillips guarantees $1B in Marathon Oil municipal bonds; to assume obligations by July 2026.
Pro forma combined balance sheet shows $122.9B total assets as of Sept 30, 2024.

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