ConocoPhillips considers selling Permian Basin assets for $2 billion — Bloomberg reports

LootboxPhobia · 2026-02-20T19:54:21+00:00

ConocoPhillips is considering selling a portion of its Permian Basin assets, with an estimated price of approximately $2 billion, as part of a portfolio simplification. These assets located in the Delaware Basin are expected to attract interest from strategic buyers and private equity investors.

LootboxPhobia

2026-02-20 19:54:21

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Investing.com — According to Bloomberg, sources familiar with the matter say ConocoPhillips is considering selling some of its Permian Basin assets as part of its portfolio streamlining strategy.

Sources indicate that these assets were acquired through transactions with Concho Resources Inc. and Shell, with an estimated sale price of around $2 billion. Due to the confidential nature of the discussions, these individuals requested anonymity.

The assets are located in the Delaware Basin, which is part of the Permian Basin in West Texas and New Mexico. The Permian Basin is the largest and highest-producing oil field in the United States.

Sources say ConocoPhillips is working with advisors to find buyers, and the sale is expected to attract interest from strategic buyers and private equity firms.

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