ConocoPhillips Plans $1B Sale of Anadarko Assets received from Marathon Oil Deal

ConocoPhillips is reportedly preparing to sell its oil and gas assets in Oklahoma’s Anadarko Basin, aiming to raise over $1 billion as part of a broader divestment strategy. The assets, acquired through the $22.5 billion Marathon Oil acquisition in late 2024, span approximately 300,000 net acres and produce around 39,000 barrels of oil equivalent per day—about half of which is natural gas.

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Slim Hole Drilling: ConocoPhillips’ Strategy to Cut Costs and Boost Efficiency

One such advancement is slim hole drilling, a technique that has gained traction among industry leaders, including ConocoPhillips. By embracing this approach, ConocoPhillips has not only managed to optimize drilling operations but has also cut down on well costs by significant margins. Here’s a closer look at slim hole drilling and how ConocoPhillips is using it to stay competitive in a demanding market.

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ConocoPhillips Expands North Slope Footprint with $300 Million Acquisition from Chevron USA

In a significant move reflecting its ongoing commitment to Alaska’s North Slope, ConocoPhillips has announced a $300 million deal to acquire portions of the Kuparuk and Prudhoe Bay oil fields from Chevron USA. This transaction is expected to close by the end of 2024 and reinforces ConocoPhillips’ position as a key player in the region, even as other major oil companies have gradually withdrawn.

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