Devon Energy Corp., ConocoPhillips and Chevron are among potential suitors studying Royal Dutch Shell Plc’s portfolio of Permian Basin oil fields, which could be worth as much as $10 billion in a sale, people familiar with the matter said.
The sale comes amid shifting strategies at oil and gas majors looking to less carbon intensive operations. BP Plc last year completed the sale of its business in Alaska to Hilcorp Energy Co., while in early 2021 Equinor ASA agreed to sell its interests in the Bakken field in Montana and North Dakota to Grayson Mill Energy for $900 million.
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