ConocoPhillips to Buy Marathon Oil for $17.1 Billion

ConocoPhillips said the transaction will add highly desired acreage to its existing U.S. onshore portfolio. (Matt Rourke/AP)

ConocoPhillips is buying Marathon Oil in an all-stock deal valued at approximately $17.1 billion as energy prices rise and big oil companies reap massive profits.

The deal is valued at $22.5 billion when including $5.4 billion in debt.

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