Shell sells Permian basin assets to ConocoPhillips

摘要

ANGLO-Dutch supermajor Shell has agreed to sell all of its assets in the prolific Permian basin to US independent ConocoPhillips for $9.5 billion in cash. The deal would transfer Shell's ownership of about 225,000 net acres, with current production -entirely in Texas - of about 175,000 barrels of oil equivalent per day, to ConocoPhillips upon the expected closing of the transaction in the fourth quarter of 2021, Shell said. "After reviewing multiple strategies and portfolio options for our Permian assets, this transaction with ConocoPhillips emerged as a very compelling value proposition," said Shell upstream director Wael Sawan.