ConocoPhillips isn’t saying much publicly about it, but the company with major Oklahoma ties has hung out the “For Sale” sign on its Williston Basin oil assets.
Bloomberg first reported the news this week but stated that ConocoPhillips spokesman Dennis Nuss declined to comment.
However Bloomberg cited “people with knowledge of the matter” in reporting the possible sale.
It’s estimated such a sale would bring about $200 million for the Williston Basin assets the company has in North Dakota and Montana.
During an Aug. 3 second quarter earnings call, ConocoPhillips Chairman and CEO Ryan Lance stated that the firm is always reviewing its portfolio to identify “uncompetitive businesses and screening opportunities” in which purchases or sales could be initiated.
It is also reported that ConocoPhillips might be among those firms possibly interested in acquiring some of the Permian Basin assets that could be shed by Royal Dutch Shell Plc.
Source: Bloomberg
