Big Oil Consolidation: Chevron Acquiring Hess - ConocoPhillips Acquiring Marathon Oil

Consolidation among the oil and energy sector continues as Chevron (CVX)  will be acquiring Hess (HES)  in a deal valued at $53 billion while ConocoPhillips (COP)  is set to acquire Marathon Oil (MRO)  for $22.5 billion when including debt.This comes as crude prices are still up 10% for the year at just under $80 a barrel with big oil companies reaping massive profits.Image Source: Yahoo FinanceConsolidation OverviewAcquiring Hess will further expand and diversify Chevron’s massive energy portfolio by givin ...