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ConocoPhillips explores sale of Permian shale assets worth over $1 billion, sources say
ConocoPhillips is exploring a sale of some of its shale operations in the Permian Basin worth more than $1 billion, two years after an unsuccessful attempt to find a buyer for the same assets, people familiar with the matter said on Wednesday. The Houston, Texas-based oil and gas producer is looking to shed some non-core assets as it prepares to close its $22.5 billion takeover of Marathon Oil by year end. It is set to assume about $5.4 billion of Marathon’s debt as part of the deal, and has outlined plans to raise $2 billion through asset sales. ConocoPhillips has tapped investment bankers at RBC Capital Markets ... (full story)