Royal Dutch Shell, an oil giant, declared on Monday a deal to offer a unit of its Permian Basin assets to ConocoPhillips. ConocoPhillips is obtaining the West Texas business for $9.5 billion in cash.
The assets include 225,000 net acres with existing production of about 175,000 barrels per day. The sale will end in the fourth quarter this year.
![Shell: Sale of West Texas Oil Field Assets to Conoco Phillips for $9.5 billion You are currently viewing Shell: Sale of West Texas Oil Field Assets to Conoco Phillips for $9.5 billion](https://insightssuccess.com/wp-content/uploads/2021/09/Shell-Sale-of-West-Texas-Oil-Field-1.jpg)