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Dear Friends and Neighbors,
A correction this morning from Larry Persily, on ConocoPhillips purchase of Marathon Oil. See below.
Cook Inlet and Oil/Gas News to Note:
ConocoPhillips Announcement
ConocoPhillips to acquire Marathon Oil Corporation in all-stock transaction; provides shareholder distribution update.
ConocoPhillips to buy Marathon Oil. Axios
Oil giant ConocoPhillips is acquiring the big producer Marathon Oil in a $17 billion all-stock deal (it's $22.5 billion including debt).
(History Comment from Larry Persily: "ConocoPhillips will NOT get back into the refinery business. Marathon Oil (which ConocoPhillips is purchasing) spun off its refinery business as Marathon Petroleum in 2011 – the refinery business is not part of the current sale. Thus, the Nikiski refinery and LNG plant remain with the other Marathon. No change in ownership. )
(My Comment: Apologies for the error.)
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