ConocoPhillips To Acquire 42% Stake In BP Energy Company of Kirkuk Limited

Equinor to Acquire bp’s Interest in Bay du Nord Project

July 7, 2026

Oil & Gas

Equinor has reached an agreement with bp to acquire bp’s interest in the Bay du Nord offshore Canada project, increasing Equinor’s ownership to 100%. The transaction supports Equinor’s portfolio simplification as it continues maturing Bay du Nord toward a final investment decision targeted for early 2027.

BKV Corporation Acquires Control Stake in BKV-BPP Power Joint Venture

January 30, 2026

Energy

BKV Corporation entered into a definitive purchase agreement to acquire from Banpu Power US Corporation (BPPUS) one-half of BPPUS’ interest in the BKV-BPP Power joint venture, increasing BKV’s ownership to 75% and granting majority control. The deal provides for cash and BKV common stock consideration and is expected to enable BKV to consolidate the Power JV’s financial results for a streamlined power operating and growth platform.

Stonepeak Acquires Majority Controlling Interest in Castrol from bp (65% Stake)

December 24, 2025

Energy

Stonepeak has agreed to acquire a majority controlling interest in Castrol from bp in a transaction valuing the lubricants business at an enterprise value of approximately $10.1 billion. bp will retain a 35% minority stake, while CPP Investments will invest up to USD $1.05 billion in support of the deal; the transaction is expected to close by the end of 2026, subject to regulatory approvals.

ConocoPhillips Acquires Marathon Oil Corporation in All-Stock $22.5 Billion Deal

May 29, 2024

Energy

ConocoPhillips will acquire Marathon Oil Corporation in an all-stock transaction valued at $22.5 billion, including $5.4 billion of net debt. Marathon Oil shareholders will receive 0.2550 shares of ConocoPhillips common stock for each Marathon share.

ConocoPhillips Acquires Additional 10% Stake in Australia Pacific LNG (APLNG) from Origin Energy

February 17, 2022

Energy

ConocoPhillips, through its Australian subsidiary, completed the purchase of an additional 10% interest in Australia Pacific LNG (APLNG) from Origin Energy for $1.645 billion (approximately $1.4 billion cash after adjustments). The transaction increases ConocoPhillips' ownership in APLNG to 47.5%, with Origin Energy and Sinopec holding 27.5% and 25% respectively, and is intended to bolster ConocoPhillips' LNG position and diversify its product mix.

ConocoPhillips to Acquire Concho Resources

October 19, 2020

Oil & Gas

ConocoPhillips agreed to acquire Concho Resources in an all-stock transaction valued at $9.7 billion, exchanging each Concho share for 1.46 shares of ConocoPhillips. The combination creates a larger independent oil and gas company with expanded Permian Basin scale, expected cost and capital synergies of $500 million annually and an enhanced low-cost resource base.