ConocoPhillips Divests Niobara and Permian Assets
ConocoPhillips has completed two transactions to sell its Niobara and Waddell Ranch assets, the company reported Thursday.
It did not identify the buyers of the U.S. 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 June 1, 2019.
The transaction for the Waddell Ranch assets – located in the Permian Basin – has an effective date of Nov. 1, 2019, ConocoPhillips stated. According to the company, production associated with the conventional assets for full-year 2019 was 4 MBOED.
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