One-Page Deal Sheet
ConocoPhillips Announces Plan to Sell Assets Over Next Two Years
Not Disclosed ConocoPhillips
Announced Date
March 23,2011
Transaction Type
Property
Enterprise Value (EV)($MM)
5000
Location
Country
United States
State
Texas
Transaction Details: Subscribe to see
ConocoPhillips, Houston, provided new information regarding sources of future reserves and production growth during its annual presentation to the financial community on March 23 in New York. In addition, the company announced plans to sell an additional $5- to $10 billion of noncore assets over the next two years.
ConocoPhillips initiated its multi year returns-enhancement plan in 2010, designed to improve capital efficiency, reduce debt and increase shareholder distributions. Proceeds from the increased asset sales are expected to be used primarily to fund the company's recently announced…
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