ConocoPhillips to buy Shell Permian assets for USD 9.5 Billion
ConocoPhillips agreed to acquire Royal Dutch Shell Plc's Permian Basin assets for USD 9.5 billion in cash, accelerating the consolidation of the largest US oil patch.
By Kevin Crowley & Simon Casey, Bloomberg
The deal will give ConocoPhillips additional daily production in 2022 of about 200,000 barrels of oil equivalent, it said Monday in a statement. That will make the Houston-based company one of the Permian's biggest producers, rivaling Pioneer Natural Resources Co. and Chevron Corp. in terms of crude output.
Already a subscriber?Log in here
Read the whole article
Get access for 7 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.
With your free trial you get:
Get full access for you and your coworkers
Start a free company trial todayRelated articles
Shell benefits from oil recovery
For subscribers
Shell appeals historic climate verdict
For subscribers
Shell and MSC join forces for LNG push in shipping
For subscribers
