ConocoPhillips acquired Marathon Oil, ending Marathon Oil stock trading

ConocoPhillips acquired Marathon Oil on November 22, 2024, ending Marathon Oil stock trading as an independent listed security. PESTEL Analysis reports a transaction value of USD 22.5 billion and identifies the completion date.

Acquisition changed the listing status

The deal moved Marathon Oil into ConocoPhillips rather than creating a continuing standalone equity story. ConocoPhillips' official investor-relations website identifies the completed acquisition in its corporate news material, while Marathon Oil's former investor information now directs attention to owner-relations matters.

IT Boltwise identifies Marathon Oil with ISIN US5658491064, ticker MRO and the NYSE, while distinguishing it from Marathon Petroleum, whose ticker is MPC and whose ISIN is US56585A1025.

Marathon Oil was the upstream business

The corporate separation matters because the two companies represented different parts of the energy chain. Who Brands describes Marathon Oil as the upstream exploration and production company, while Marathon Petroleum remained the downstream refining and marketing company after the 2011 spin-off.

The same source places the Marathon Oil acquisition inside ConocoPhillips' upstream expansion. That distinction prevents Marathon Petroleum figures from being assigned to Marathon Oil, an error highlighted by the September 23, 2026 identity review from IT Boltwise.

Historical value before the deal

PESTEL Analysis states that Marathon Oil had a market capitalization of USD 15.97 billion on January 24, 2025, after the acquisition had closed. That figure is historical and belongs to Marathon Oil as a former standalone issuer, not to Marathon Petroleum or ConocoPhillips.

For reference, the Marathon Oil name now describes legacy assets and owner-relations activity within ConocoPhillips. Its former ticker, ISIN and NYSE listing identify the acquired company historically, while the parent company carries the continuing public-market exposure.

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