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ConocoPhillips in Talks to Sell Several Canadian Assets

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   |    Tuesday,September 22,2015

Supermajor ConocoPhillips is edging closer to a selloff deal involving several of its assets in Western Canada, according to a report by Bloomberg.

According to the report, a deal could be cemented later this week.

Currently, ConocoPhillips holds over three million acres in Western Canada, which include oil sands and unconventional targets. Currently, the company’s Canadian operations account for 21 percent of its total production.

The company considers its oils sands operations to fall in the less flexible, lower decline quadrant.

Canadian Operations / Porfolio

  • Unconventionals
  • Oil Sands

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Oil Sands

  • Second largest SAGD producer
  • 100 Mboed growth through 2017
  • optimizing production through existing facilities

Oil Sands Forecast Production

 

 

Unconventional Play Potential:

 

It is rumored that Canadian Natural Resources Ltd. is one of the potential buyers involved.

Heavy Crude currently accounts for 35% of CNRL's production

CRNL Areas of operations

 

Click here to access more information on Conoco’s Canadian assets in our Presentation Manager.


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