Shell sells Permian oil and gas assets to ConocoPhillips for $9.5 billion
Encinitas News
One of the world’s largest energy producers sold its Permian Basin assets to a Texas-based operator for $9.5 billion.
Royal Dutch Shell announced the deal Sept. 20 to sell its assets in the Delaware sub-basin on the western side of the Permian which spans from southeast New Mexico to West Texas to ConocoPhillips.
The deal also included $7 billion to be distributed to shareholders upon the sale’s closure, expected by the end of 2021.
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