Looking to capitalize on higher commodity prices,ConocoPhillips Co.is marketing nearly 280,000 net acres,including leasehold in the western Anadarko Basin and nonoperated assets in the STACK and SCOOP plays.Marketing materials from Wells Fargo labeled"Spring 2022"show the assets'EBITDA,annualized by first-quarter 2021 results,is about $97.5 million.ConocoPhillips previously announced an asset disposition target of up to $5 billion by 2023 while it works to whittle away its debt by 2026 to about $ 15 billion,including $800 million that matures this year.In February,the company closed the sale of Indonesia assets for $ 1.65 billion and roughly $700 million in the Lower 48 since last year.In a February earnings call,chairman and CEO Ryan Lance said that in the Lower 48,ConocoPhillips"generated $0.3 billion in proceeds from the sale of noncore assets last year and [in January]...signed an agreement to sell an additional property set outside of our core areas for an additional $440 million."
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