ConocoPhillips Looks to Sell Assets in the Permian Basin

NodeGuardian · 2026-02-28T05:11:51+00:00

ConocoPhillips plans to sell Permian Basin assets worth $2 billion to streamline its portfolio, following a previous $3 billion divestment. This strategy aims to reach a $5 billion target by the end of 2026, attracting strategic and private equity buyers.

NodeGuardian

2026-02-28 05:11:51

Abstract generation in progress

ConocoPhillips is reportedly looking to sell some Permian Basin assets, estimated to be worth around $2 billion, as part of a strategy to streamline its portfolio. This move follows the company’s successful divestment of over $3 billion in assets in 2025, bringing it closer to its $5 billion target by the end of 2026. The oil and gas major is seeking buyers, including strategic and private equity investors, for the assets acquired through previous deals with Concho Resources and Shell.

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