ConocoPhillips to sell Texas shale assets for $305M

Houston-based ConocoPhillips (NYSE: COP) will sell its interests in Texas’ Barnett Shale to an affiliate of Louisiana-based Miller Thomson & Partners LLC for $305 million.

The deal, which was announced June 29 and is expected to close in the third quarter, comes after ConocoPhillips made some much larger divestitures earlier this year.

The assets had a net book value of about $900 million as of May 31, and ConocoPhillips expects to record a non-cash impairment in the second quarter. For full-year…

ConocoPhillips to sell Texas shale assets for $305M syndicated post

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