ConocoPhillips Seeks $2 Billion From Permian Basin Asset Sales
ConocoPhillips plans to sell Permian Basin assets acquired from Concho and Shell, seeking roughly $2 billion proceeds. The company closed over $3 billion in asset sales in 2025, including $1.6 billion in Q4, and doubled its divestiture target to $5 billion by end-2026.
1. Permian Basin Asset Sale Plan
ConocoPhillips is exploring the sale of Permian Basin assets acquired through deals with Concho Resources and Shell, working with advisers to secure strategic or private equity buyers.
2. 2025 Asset Sales Performance
The company generated over $3 billion from asset sales in 2025, including $1.6 billion in the fourth quarter, as part of its ongoing portfolio streamlining efforts.
3. Divestiture Target and Timeline
Having doubled its divestiture goal to $5 billion in August 2025, ConocoPhillips remains on track to meet this target by the end of 2026.