ConocoPhillips is offering to sell about $500 million in conventional oil and gas properties in the top U.S. oil basin, according to a marketing document seen by Reuters, hoping to unload less valuable acreage after two major shale acquisitions.. On Monday, Houston-based Conoco agreed to buy Royal Dutch Shell's Permian basin properties for $9.5 billion in cash. ConocoPhillips began exploring and appraising the basin's stacked pay potential in 2012. December 02,2021 : ConocoPhillips completed the YANTA CENTRAL UNIT 4 well in Karnes,TX. ConocoPhillips and its heritage companies have operated in the Permian Basin for almost 100 years. Located in southeast Louisiana, the company's wetlands proper-ties cover approximately 0.6 million acres and are known as the ConocoPhillips Coastal Wetlands. The position spans approximately 144,500 net acres across Andrews (TX), Ector (TX), Eddy (NM) and Lea (NM) counties and is largely operated and held by production. The company has high-quality positions in the North American unconventionals, which are low cost of . ConocoPhillips and its heritage companies have operated in the Permian Basin for almost 100 years. The offer covers lower-value oil and gas producing properties in the Central Basin Platform (CBP) and Northern Shelf formations, spread across west Texas and New Mexico. To help achieve our growth targets, XTO horizontal rig count in the Permian is expected to . The Central Basin Platform (CBP) is a shallow subsurface structure located in west Texas and a portion of southeastern New Mexico. Read the full transcript for ConocoPhillips' Q4 2021 earnings call at MarketBeat. At year-end 2020, the company held about 750 thousand net acres across . In a $440 million deal, ConocoPhillips sold some of its oil-producing assets in the Permian Basin to Houston-based Maverick Natural Resources, a firm with operations and holdings in Oklahoma. Maverick Sarah Payne—Media 713-437-8084 Andrew Rowe—Business Development 713-437-8020 EIG Kelly Kimberly and Brandon Messina, Sard Verbinnen & Co EIG-SVC@sardverb.com 212-687-8080 Sept 23 (Reuters) - ConocoPhillips is offering to sell about $500 million in conventional oil and gas properties in the top U.S. oil basin, according to a marketing document seen by Reuters, hoping to unload less valuable acreage after two major shale acquisitions. SEARCH BY. ConocoPhillips has reportedly put up its conventional oil and gas properties in the US for sale to raise approximately $500m. . Su Tu Vang is an offshore oil field located in Block 15-1 of the Cuu Long Basin. ConocoPhillips is selling some of its Permian assets to Houston-based Maverick Natural Resources for $440 million, part of the Houston independent oil company's plans to "clean up" its large holdings and return more cash to shareholders. The assets to be acquired produced over 11,000 boepd (50% oil) from the Central Basin Platform and Northwest Shelf of the Permian Basin during September 2021. In September 2021, ConocoPhillips launched the sale of its conventional oil and gas properties in the US to raise approximately $500m. Communities; Help . The offer covers lower-value oil and gas producing properties in the Central Basin Platform (CBP) and Northern Shelf formations, spread across west Texas and New Mexico. focused within the Central Basin Platform and Northwest Shelf. ConocoPhillips's Permian Basin produces over 11,000 boepd (50% oil) from the Central Basin Platform and Northwest Shelf. The company holds conventional positions in the Northwest Shelf and Central Basin Platform, and an unconventional position in the Delaware Basin. The assets considered for sale include lower-value oil and gas producing properties in the Central Basin Platform (CBP) and Northern Shelf formations, covering west Texas and New Mexico. CLJOC acquired operating interest in Block 15-1 in September 1998 and discovered the Su Tu Vang filed in October 2001. Conoco's Permian Basin operations are focused on the Central Basin Platform, which divides the Delaware from the Permian, and the basin's northwest shelf. ConocoPhillips' assets averaged more than 11,000 boe/d (50% oil) from the Central Basin Platform and Northwest Shelf of the Permian Basin during September 2021. Houston, Texas Area. Implementation Team Lead, in charge of planning and executing ConocoPhillips's Niobrara asset appraisal strategy . The assets to be acquired produced over 11,000 boepd (50% oil) from the Central Basin Platform and Northwest Shelf of the Permian Basin during September 2021. Across New Mexico and Texas, the company holds conventional positions in the Northwest Shelf and Central Basin Platform, and an unconventional position in the Delaware Basin. May 2014 - Oct 20162 years 6 months. OK & TX (Western Anadarko Basin; STACK/SCOOP) ConocoPhillips Co. Wells Fargo Securities: N/A: TX, DeWitt & Lavaca Cos. (Eagle Ford Shale / Austin Chalk . Maverick to Buy ConocoPhillips Permian Basin Assets for $440 Million. ConocoPhillips and its heritage companies have operated in the Permian Basin for almost 100 years. ConocoPhillips and its heritage companies have operated in the Permian Basin for almost 100 years. Last week, EIG-backed Maverick Natural Resources scooped up conventional properties in the Central Basin Platform (CBP) of the Permian Basin from ConocoPhillips for $440 million. The news comes as this Monday the company agreed to buy Royal Dutch Shell's presence in the Permian Basin for $9,5 . Maverick Natural Resources agreed to acquire certain properties from ConocoPhillips spanning about 144,500 net acres in the Permian Basin, the company exclusively told Hart Energy. The $1bn project is designed to produce 100,000bopd and is the biggest oil field to come on-stream in Vietnam. ConocoPhillips . The position spans approximately 144,500 net acres across Andrews (Texas), Ector (Texas), Eddy (N.M.), and Lea (N.M.) Counties and is largely operated and held by production. Across New Mexico and Texas, the company holds conventional positions in the Northwest Shelf and Central Basin Platform, and an unconventional position in the Delaware Basin. At year-end 2020, the company held about 750 thousand . The Lower 48 represents the largest segment in ConocoPhillips today based on production. ~300,000 net acres with, including active waterfloods and development synergies Midland Basin ~60,000 net acres, Unconventional with competitive, low cost of supply in Spraberry and Wolfcamp Delaware Basin The Lower 48 is ConocoPhillips' largest segment today based on production. Across New Mexico and Texas, the company holds conventional positions in the Northwest Shelf and Central Basin Platform, and an unconventional position in the Delaware Basin. ConocoPhillips and its heritage companies have operated in the Permian Basin for almost 100 years. Read More. ConocoPhillips is committed to being an . The deal, announced Friday, includes 144,500 acres in the Permian's Central Basin Platform west of . Su Tu Vang is an offshore oil field . ConocoPhillips and its heritage companies have operated in the Permian Basin for almost 100 years. The extra proceeds "are expected to be sourced primarily from the Permian Basin," it said at the time. ConocoPhillips is committed to being an innovative and environmentally responsible operator, and the new technologies and practices that it is using in this area exemplify this commitment. The assets in central basin platform and northwest shelf produced more than 11,000 boed (50 percent oil) in September 2021. U.S. operations span both the Alaska and Lower 48 Business Units and corporate functions in Houston and Midland, Texas and Bartlesville, Oklahoma. The company has high-quality positions in the North American unconventionals, which are low cost of . Across New Mexico and Texas, the company holds conventional positions in the Northwest Shelf and Central Basin Platform, and an unconventional position in the Delaware Basin. More:How much does oil . At year-end 2020, the company held about 750 thousand net acres across the basin, with net production of 85 thousand barrels of oil equivalent per day. Delaware Basin Spanning West Texas through Southeast New Mexico, ConocoPhillips holds approximately 709,000 total net acres in the Delaware Basin, which includes approximately 654,000 unconventional net acres. ConocoPhillips Announces Cash Tender Offer for up to $1.8 Billion of Debt Securities February 22, 2022 ConocoPhillips Completes Purchase of Additional 10% Shareholding Interest in APLNG February 17, 2022 ConocoPhillips Reports Fourth-Quarter and Full-Year 2021 Results; Increases Planned 2022 Return of Capital to $8… February 3, 2022 The Helena facility, located in Kenedy, Texas, is 100% owned by ConocoPhillips and has 110 MBOED of condensate processing capacity. The information below is the summary of oil and gas data that goes back to 1973 and contains information on the 94,833 producing wells that have been drilled in the Central Basin Platform from Jan 1970 to Dec 2020. Maverick Natural Resources agreed to acquire certain Permian basin producing properties from ConocoPhillips Co. for $440 million. Across New Mexico and Texas, the company holds conventional positions in the Northwest Shelf and Central Basin Platform, and an unconventional position in the Delaware Basin. With a significant working interest in about 147,000 net acres in north-central Texas, ConocoPhillips is able to strongly influence the pace of development in this basin. condensate into separate streams of natural gas, natural gas liquids and processed condensate that meet market specifications. Across New Mexico and Texas, the company holds conventional positions in the Northwest Shelf and Central Basin Platform, and an unconventional position in the Delaware Basin. Across New Mexico and Texas, the company holds conventional positions in the Northwest Shelf and Central Basin Platform, and an unconventional position in the Delaware Basin. TX, Crane County (Permian Basin / Central Basin Platform) MORE. ConocoPhillips ( COP +2.7%) is seeking to sell ~$500M in conventional oil and gas properties in the Permian Basin, hoping to unload less valuable acreage after two major shale deals, Reuters . At year-end 2020, the company held about 750 thousand net acres across . The Permian operations in the Central Basin Platform and the Northwest Shelf are legacy positions, mostly held by production. The position spans about 144,500 net acres across Andrews and Ector counties, Texas, and New Mexico's Eddy and Lea counties. ConocoPhillips (NYSE: COP) has reached a deal to sell some of its Permian Basin assets to another Houston-based company about four months after announcing plans to pay $9.5 billion . XTO Energy holds more than 1.6 million acres in the Permian Basin. The addition of complementary acreage in the Delaware and Midland Basins creates a sizeable Permian presence. Maverick Natural Resources agreed to acquire certain Permian basin producing properties of ConocoPhillips that produced over 11,000 boe/d (50% oil) from the Central Basin Platform and Northwest Shelf of the Permian basin during September 2021. Across New Mexico and Texas, the company holds conventional positions in the Northwest Shelf and Central Basin Platform, and an unconventional position in the Delaware Basin. Search 167,211 Deals Now. According to an exclusive report by Reuters, the company will sell $500 million in conventional o&g properties in the Central Basin Platform and Northern Shelf Formations.. ConocoPhillips . He said selling noncore assets like holdings in the Central Basin Platform and Northwest Shelf to companies like. Lower 48 The Lower 48 represents the largest segment in ConocoPhillips today based on production. The acreage is largely operated and HBP. The assets for sale included its lower-value oil and gas producing properties in the Central Basin Platform (CBP) and Northern Shelf formations, covering West Texas and New Mexico. Across New Mexico and Texas, the company holds conventional positions in the Northwest Shelf and Central Basin Platform, and an unconventional position in the Delaware Basin. XTO plans to increase total daily production to 1 million oil-equivalent barrels by as early as 2024 from our operations in the Permian Basin in West Texas and New Mexico. . The Permian operations in the Central Basin Platform and the Northwest Shelf are legacy . It sits in the heart of the Permian, between the Delaware and Midland Basins. At year-end 2020, the company held about 750 thousand net acres across . Jan 30, 2022. Key Statistics. In the Central Basin Platform (CBP), located between the Midland and Delaware basins, the Permian team is using unconventional technology and fracking to improve production from older, conventional reservoirs.