By Sabela Ojea
ConocoPhillips has received exemptions from certain Canadian securities regulations, which it had become subject to following its acquisition of Marathon Oil last year.
The oil giant on Friday said that Canadian securities regulatory authorities granted it an exemptive relief from the requirements for oil and gas activities. The combined company will now only have to disclose its activities in accordance with U.S. Securities and Exchange Commission rules.
In May, Conoco agreed to buy rival oil explorer Marathon Oil in an all-stock deal valued at $17.1 billion in a bid to catch up with rivals as drillers race to secure increasingly scarce new prospects. The acquisition closed in November.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
February 14, 2025 17:55 ET (22:55 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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