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ConocoPhillips to buy Marathon Oil for $17B

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ConocoPhillips has agreed to buy Marathon Oil in an all-stock deal valued at $17 billion.

The deal would add 2 billion barrels of resources to ConocoPhillips' U.S. inventory, CNBC reports.

The purchase additionally would expand ConocoPhillips' shale field footprint in Texas, New Mexico and North Dakota.

Read more from CNBC.

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