ConocoPhillips (NYSE:COP) is reportedly seeking to sell some of its Permian Basin assets, which were acquired through deals with Concho Resources and Shell, for an estimated $2 billion. This move is part of the company’s strategy to streamline its portfolio, following over $3 billion in asset sales in 2025. ConocoPhillips aims to reach $5 billion in divestitures by the end of 2026.
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ConocoPhillips Looks to Sell Assets in the Permian Basin
ConocoPhillips (NYSE:COP) is reportedly seeking to sell some of its Permian Basin assets, which were acquired through deals with Concho Resources and Shell, for an estimated $2 billion. This move is part of the company’s strategy to streamline its portfolio, following over $3 billion in asset sales in 2025. ConocoPhillips aims to reach $5 billion in divestitures by the end of 2026.