The American company ConocoPhillips announced the acquisition of the American company Marathon Oil in an all-stock deal worth $17 billion.

This major transaction strengthens ConocoPhillips' shale assets and gives it access to two billion barrels of additional resources in the United States. The deal includes fields in Texas, New Mexico and North Dakota. This expands ConocoPhillips' reach and improves its ability to compete in the booming shale sector.

“This acquisition of Marathon Oil deepens our portfolio, fits our financial framework, and adds high-quality, low-cost supply inventory to our leadership position in unconventional energy in the United States,” ConocoPhillips CEO Ryan Lance said in a statement.

This deal comes in the wake of a wave of mergers in the oil and gas sector. As major companies seek to strengthen their position in the field of oil shale.

Last year, both ExxonMobil and Chevron announced huge deals; This signals an important shift in the energy industry.

ConocoPhillips expects the deal to increase its profits, cash flows, and shareholder returns, and the company plans to repurchase shares worth $7 billion in the first year after completion of the deal, and $20 billion in the first three years.