ConocoPhillips Divests Niobara and Permian Assets
ConocoPhillips has completed two transactions to sell its Niobara and Waddell Ranch assets, the company reported on the 5th March.
It did not identify the buyers of the US Lower 48 assets.
Located in the southern Denver-Julesberg Basin, the Niobara assets boasted full-year 2019 production of 11,000 barrels of oil equivalent per day (MBOED), ConocoPhillips noted in a written statement. The firm added the effective date of the Niobara transaction is the 1st June 2019.
The transaction for the Waddell Ranch assets – located in the Permian Basin – has an effective date of the 1st November 2019, ConocoPhillips stated.
According to the company, production associated with the conventional assets for full-year 2019 was four MBOED.
Source: Rigzone