ConocoPhillips, the third-largest North American oil and gas producer, is reportedly entered into a Purchase and Sale Agreement to sell several Western Canadian assets according to people with knowledge of the matter. Canadian Natural Resources is reportedly the buyer of such assets, according to Motley Fool Canada.
The assets produce the equivalent of almost 35,000 barrels of oil and gas a day and include a net working interest in 2.4 million acres for future drilling Based on that, the group of assets could be valued at $ 1 billion or more, according to data compiled by Bloomberg.
Click here to see the divestment package Conoco had listed with Scotia Waterous.