Key Takeaways COP's Marathon Oil acquisition expanded its low-cost U.S. Lower 48 resource base.The deal is set to deliver over $1B in synergies by the end of 2025, double initial estimates.Production rose as COP cut rigs and frac crews by 30% through steady-state drilling.ConocoPhillips (COP) , a leading exploration and production firm in the United States, acquired Marathon Oil in November 2024 and has completed the integration of the latter’s assets into its portfolio. The acquisition significantly expand ...