Houston-based ConocoPhillips is selling Anadarko Basin assets for $1.3 billion.
The company confirmed to the Houston Business Journal that it acquired the assets when it bought Houston-based Marathon Oil Corp. for $22.5 billion in November 2024.
ConocoPhillips signed the asset sale agreement in July and expects the transaction to close at the beginning of the fourth quarter of 2025. The buyer has not been disclosed.
With the sale, ConocoPhillips said it has exceeded its planned divestment target of $2 billion and has now raised that target to $5 billion. In February, ConocoPhillips announced it was selling its stakes in the Gulf's Ursa and Europa fields to subsidiaries of London-based Shell PLC for $735 million.
More on this story at KHOU.
