Royal Dutch Shell Plc  .com Rotating Header Image

Shell announces $9.5 billion sale of West Texas oil field assets to ConocoPhillips

CNBC

Shell announces $9.5 billion sale of West Texas oil field assets to ConocoPhillips

Hannah Miao: MON, SEP 20 2021

  • Oil giant Royal Dutch Shell announced a deal to sell the entirety of its Permian Basin assets to ConocoPhillips for $9.5 billion in cash.
  • The sale is set to close in the fourth quarter this year, the companies said.

Oil giant Royal Dutch Shell announced Monday a deal to sell the entirety of its Permian Basin assets to ConocoPhillips.

ConocoPhillips is purchasing the West Texas business for $9.5 billion in cash, the companies said in a release.

The assets span roughly 225,000 net acres with current production about 175,000 barrels per day, the statement said. The sale is set to close in the fourth quarter this year.
The deal would mark Shell’s complete withdrawal from onshore production in Texas. Shell will maintain its offshore production in Texas.
royaldutchshellplc.com and its also non-profit sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Comments are closed.

%d bloggers like this: