One-Page Deal Sheet
Conoco to Sell Entire UK Portfolio / Subsidiaries for $2.675B
Chrysaor, Harbour Energy Ltd. ConocoPhillips
Announced Date
April 18,2019
Close Date
September 30,2019
Transaction Type
Property
Enterprise Value (EV)($MM)
2675
Location
Calculated Metrics( EV/Category)
Region
Europe
Country
United Kingdom
Play
Production & Reserves Production
Reserves
Calculated Metrics( EV/Category)
$/ Flowing
Transaction Details: Require Private Equity Subscription
ConocoPhillips has agreed to sell two ConocoPhillips United Kingdom (U.K.) subsidiaries to Chrysaor E&P Limited for $2.675 billion.
This deal closed on September 30, 2019.
Proceeds from this transaction will be used for general corporate purposes.
Full-year 2018 production and year-end 2018 proved reserves associated with the U.K. assets being sold were approximately 72 MBOED and approximately 99 MMBOE, respectively.
Together, the subsidiaries indirectly hold the company's exploration and production assets in the U.K., as well as associated decommissioning liabilities. ConocoPhillips will…
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