ConocoPhillips plans to sell some Permian Basin assets

K-LinePoet · 2026-03-04T03:03:48+00:00

ConocoPhillips recently announced plans to sell some assets in the Permian Basin, with an estimated sale price of approximately $2 billion, as part of its portfolio simplification strategy. These assets are located in Texas and New Mexico. The company is working with advisors to find buyers to attract strategic investors and private equity investors, further optimizing its portfolio.

K-LinePoet

2026-03-04 03:03:48

Abstract generation in progress

ConocoPhillips announced recently that it is exploring the sale of some of its Permian Basin assets as part of a broader portfolio simplification plan. These assets, acquired through the purchase of Concho Resources and Shell, are expected to sell for approximately $2 billion and are located in the rapidly growing Delaware sub-basin of the Permian in West Texas and New Mexico.

ConocoPhillips is working with advisors to find buyers, likely attracting strategic buyers and private equity investors. The sale of these assets is part of ConocoPhillips’ initial plan to divest about $2 billion worth of assets after completing its $17 billion acquisition of Marathon Oil in 2024. The company announced last August that it would double its divestment target to $5 billion.

Since early 2023, the U.S. shale oil industry has experienced an over $450 billion wave of consolidation, with operators seeking to sell smaller assets to help pay down debt. ConocoPhillips’ operations extend from Alaska to Australia, continuously optimizing its portfolio by divesting slower-growing assets while increasing investments in high-return drilling opportunities.

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