Speculation that ConocoPhillips may sell Delaware Basin assets points to portfolio high-grading rather than a strategic exit, as management repeatedly described the Delaware on its earnings call as core, long-life, and technically improving inventory. That view is reinforced by 2025 drilling data showing 144 wells drilled across just 11 rigs, heavily concentrated in Lea and Loving counties, reflecting a disciplined, manufacturing-style development program rather than retreat.
Is ConocoPhillips Really Selling Delaware Basin Assets?












