💰 ConocoPhillips Looking to Sell $1B in Oklahoma Oil & Gas Assets

ConocoPhillips is reportedly looking to sell oil and gas assets in Oklahoma valued at over $1 billion, according to sources close to the matter. The assets stem from the company’s $22.5 billion acquisition of Marathon Oil last year and include operations in the Anadarko Basin, covering roughly 300,000 net acres. The sale process is being managed by Moelis & Co, though talks are still in early stages and not guaranteed to result in a deal. The Anadarko assets currently produce about 39,000 barrels of oil equivalent per day, half of which is natural gas — a resource increasingly in demand for powering data centers. This potential sale is part of ConocoPhillips’ strategy to raise $2 billion by divesting non-core assets. The company, which assumed $5.4 billion of Marathon's debt, has already offloaded more than $1 billion in assets since the merger was finalized in November. The move would further sharpen ConocoPhillips’ focus on key production regions like the Permian, Eagle Ford, and Bakken basins, while trimming its portfolio in secondary areas like Anadarko.