ConocoPhillips is unloading its interests in the Barnett shale play around Fort Worth, Texas.
It is a $230 million agreement reached with Lime Rock Resources, a Houston, Texas firm that operates in four main regions in six states. The company’s website states that it is actively seeking to add acquisitions to its existing areas and selectively expand its geographic footprint in attractive new basins.
Production from the Barnett assets sold by ConocoPhillips averaged 9,000 barrels of oil equivalent a day for the first half of 2018. Fifty-five percent was natural gas and 45 percent was natural gas liquids.
Closing of the sale is expected by the end of the year.