ConocoPhillips to sell Barnett shale field assets

US independent oil producer ConocoPhillips has said that it would sell its assets in the Barnett shale field in Texas to Miller Thomson & Partners LLC for USD $305 million, as part of efforts to reduce exposure to natural gas.

The Barnett assets produced 11,000 barrels of oil equivalent per day (boed) in 2016, of which about 55% was natural gas and 45% was natural gas liquids.

The oil producer said that it would sell natural gas-heavy assets in San Juan basin, as well as oil sands and western Canadian natural gas assets. It has also marked other gas-weighted assets for sale, including some assets in the Anadarko basin and the Gulf of Mexico.

Previous articleSimmons Edeco expands European headquarters
Next articleGE Oil & Gas and Baker Hughes complete merger
Heat Exchanger World is a leading international magazine covering all aspects of the product supply chain of heat exchangers. Heat Exchanger World is part of the KCI Group of Companies. We are a leading knowledge, communication and information company connecting business-to-business professionals by building and sustaining global communities, solving their information needs and helping them to develop their professional life and friendships.