Fossil Energy – Sale
ConocoPhillips will sell its interests in the Ursa and Europa fields in the US Gulf and the Ursa Oil Pipeline Company to Shell for $735 million, the two oil majors said Friday.
The deal will also include ConocoPhillips’ overriding royalty interest of 3.5% in the Ursa field. ConocoPhillips acquired that interest when it bought Marathon Oil in 2024.
“Combined with previously announced dispositions, this transaction reflects our ongoing commitment to further strengthen our portfolio by divesting noncore assets and shows significant progress toward our $2 billion disposition target,” said ConocoPhillips senior vice president Andy O’Brien.
