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ConocoPhillips Seals Multi-Billion Dollar Deal for Shell's Permian Portfolio

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   |    Wednesday,December 01,2021

ConocoPhillips has completed its acquisition of Shell Enterprises LLC's prolific Delaware basin position for $8.6 billion in cash (adjusted from $9.5 billion prior to closing).

The assets include ~225,000 net acres and producing properties located entirely in Texas, as well as over 600 miles of operated crude, gas and water pipelines and infrastructure. Estimated 2022 production from these assets is expected to be approximately 200 MBOED, roughly half of which is operated.

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