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ConocoPhillips to acquire Marathon Oil for $17 billion amid U.S. oil and gas consolidation wave

The move expands ConocoPhillips’ footprint in domestic shale fields from Texas to North Dakota and hands the company reserves as far afield as Equatorial Guinea. It adds to a wave of recent megadeals as producers seek new drilling sites on a bet that oil and gas demand will remain robust for years to come.

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