Shell sells Permian basin assets to ConocoPhillips for $9.5 billion

Deal covers 225,000 acres and is expected to close in the fourth quarter of 2021

New day, new owner: Shell has agreed to sell its more than 220,000 net acreage position in the prolific Permian basin to ConocoPhillips for $9.5 billion — New day, new owner: Shell has agreed to sell its more than 220,000 net acreage position in the prolific Permian basin to ConocoPhillips for $9.5 billionPhoto: AP/SCANPIX

Jennifer Presley

Houston

Shell ConocoPhillips Permian Basin Shale Americas

Published 20 September 2021, 22:53Updated 21 September 2021, 14:55