Texas Pacific Land Replaces Marathon Oil in S&P 500 After ConocoPhillips Deal

Texas Pacific Land, a large owner of acreage in the Permian basin, will replace Marathon Oil in the S&P 500 index on November 26, as Marathon Oil is being acquired by ConocoPhillips in a deal expected to close on November 22, S&P Dow Jones Indices said. Texas Pacific Land Corporation has a company-level market capitalization that is more representative of the large-cap market space, according to S&P Dow Jones Indices. Texas Pacific Land Corporation is one of the largest landowners in the State of Texas with approximately 873,000 acres…