Shell Enterprises LLC has completed the sale of its interest in the Permian to ConocoPhillips for USD 9.5 billion in cash. The agreement covers the sale of Shell's 225k net acres and existing production of around 175 thousand barrels equivalent per day. As noted in the announcement of the agreement for the sale of Shell’s Permian business, this deal reflects Shell’s focus on value over volumes as well as disciplined stewardship of capital. This transaction was made possible by the Permian team’s outstanding operational performance and provides excellent value to our shareholders through accelerated cash delivery and additional distributions. AOn September 20, 2021, Shell and ConocoPhillips announced that they had reached an agreement for ConocoPhillips to acquire Shell’s Permian business.
Shell Enterprises LLC has completed the sale of its interest in the Permian to ConocoPhillips for USD 9.5 billion in cash. The agreement covers the sale of Shell's 225k net acres and existing production of around 175 thousand barrels equivalent per day. As noted in the announcement of the agreement for the sale of Shell’s Permian business, this deal reflects Shell’s focus on value over volumes as well as disciplined stewardship of capital. This transaction was made possible by the Permian team’s outstanding operational performance and provides excellent value to our shareholders through accelerated cash delivery and additional distributions. AOn September 20, 2021, Shell and ConocoPhillips announced that they had reached an agreement for ConocoPhillips to acquire Shell’s Permian business.
