ConocoPhillips Announces Early Tender Results and Pricing Terms of Tender Offer in Recent 8-K Filing

ConocoPhillips has recently disclosed in an 8-K filing with the Securities and Exchange Commission that the company issued press releases on December 10, 2024. The announcement pertains to the results of the early tender offer to purchase certain notes issued by ConocoPhillips and its subsidiaries. The company also disclosed the early tender results of private offers to exchange certain notes issued by Marathon Oil Corporation for up to $4 billion in aggregate principal amount of new notes issued by ConocoPhillips Company.

The press releases included details on the pricing terms and early tender results of the offers. Specific notes included in the exchange offers were the 4.400% notes due 2027, 5.300% notes due 2029, 6.800% notes due 2032, 5.700% notes due 2034, 6.600% notes due 2037, and 5.200% notes due 2045. Copies of the press releases are available as Exhibits 99.1, 99.2, and 99.3 in the submitted Form 8-K.

ConocoPhillips also outlined its intention to conduct cash tender offers to purchase certain notes issued by Marathon Oil Corporation and other debt securities issued by ConocoPhillips and its subsidiaries. This Concurrent Tender Offer aligns with terms outlined in the Offer to Purchase dated November 25, 2024.

Withdrawal rights for the Exchange Offers and Consent Solicitations expired after the Early Tender Date, as stated in the filing. ConocoPhillips further highlighted the conditions, deadlines, and other particulars associated with the Exchange Offers and Consent Solicitations.

The Exchange Offers and Consent Solicitations, per the filed documents, must adhere to the conditions specified in the Offering Memorandum. Additionally, the expiration date for these offers is set for 5:00 p.m. on December 24, 2024, unless extended. The settlement date is expected to follow within three business days post the Expiration Date.

ConocoPhillips emphasized its discretionary rights to modify, extend, or terminate the Exchange Offers and associated terms. The company pointed out that the Exchange Offers are selectively available to holders of Existing Marathon Notes based on specific criteria and are subject to regulatory compliance.

ConocoPhillips concluded that, unless legally mandated, the company disclaims any obligation to update forward-looking statements provided in the news release. The 8-K filing sheds light on the company’s recent financial activities and strategic decisions, showcasing its commitment to financial transparency and regulatory compliance.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read ConocoPhillips’s 8K filing here.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.