ConocoPhillips Sells Anadarko Basin Assets for $1.3 Billion
ByAinvest
Thursday, Aug 7, 2025 3:21 pm ET1min read
COP--
The sale is part of ConocoPhillips' strategic portfolio shift, aiming to optimize its Lower 48 portfolio. The company has already raised more than $2 billion in proceeds from asset sales and increased its total disposition target to $5 billion by year-end 2026 [2].
In the second quarter, ConocoPhillips reported strong financial results, with $2.0 billion in net income, or $1.56 per share, and adjusted earnings of $1.8 billion, or $1.42 per share. The company's production for the quarter averaged 2.391 million barrels of oil equivalent per day (boe/d), up 446 MMboe/d from the same period last year [3].
Despite the strong production numbers, earnings fell from the year-ago period due to lower commodity prices and higher costs. The company’s average realized price was $45.77 per BOE, down 19% from Q2 2024 [3].
The sale of the Anadarko Basin assets is expected to help ConocoPhillips reduce debt and focus on higher-margin basins. The company has already disposed of assets worth more than $1 billion since the Marathon Oil acquisition and aims to generate over $7 billion in incremental free cash flow by 2029 [2].
Looking ahead, ConocoPhillips expects Q3 production between 2.33 and 2.37 MMboe/d and maintained its full-year guidance of 2.35 to 2.37 MMboe/d, even after accounting for announced and closed divestitures [3].
References:
[1] https://www.reuters.com/business/energy/conocophillips-sell-anadarko-assets-13-bln-profit-beats-estimates-2025-08-07/
[2] https://finance.yahoo.com/news/conocophillips-beats-second-quarter-profit-111002694.html
[3] https://www.worldoil.com/news/2025/8/7/conocophillips-to-sell-anadarko-basin-assets-for-1-3-billion-in-strategic-portfolio-shift/
ConocoPhillips has agreed to sell its Lower 48 Assets in the Anadarko Basin to an undisclosed buyer for $1.3 billion. The transaction is subject to customary closing adjustments and is expected to complete in Q4 2025. The buyer will pay a cash consideration of $1.3 billion for the assets.
ConocoPhillips (COP.N) has agreed to sell its Lower 48 assets in the Anadarko Basin to an undisclosed buyer for $1.3 billion. The transaction is subject to customary closing adjustments and is expected to complete in Q4 2025. The buyer will pay a cash consideration of $1.3 billion for the assets [1].The sale is part of ConocoPhillips' strategic portfolio shift, aiming to optimize its Lower 48 portfolio. The company has already raised more than $2 billion in proceeds from asset sales and increased its total disposition target to $5 billion by year-end 2026 [2].
In the second quarter, ConocoPhillips reported strong financial results, with $2.0 billion in net income, or $1.56 per share, and adjusted earnings of $1.8 billion, or $1.42 per share. The company's production for the quarter averaged 2.391 million barrels of oil equivalent per day (boe/d), up 446 MMboe/d from the same period last year [3].
Despite the strong production numbers, earnings fell from the year-ago period due to lower commodity prices and higher costs. The company’s average realized price was $45.77 per BOE, down 19% from Q2 2024 [3].
The sale of the Anadarko Basin assets is expected to help ConocoPhillips reduce debt and focus on higher-margin basins. The company has already disposed of assets worth more than $1 billion since the Marathon Oil acquisition and aims to generate over $7 billion in incremental free cash flow by 2029 [2].
Looking ahead, ConocoPhillips expects Q3 production between 2.33 and 2.37 MMboe/d and maintained its full-year guidance of 2.35 to 2.37 MMboe/d, even after accounting for announced and closed divestitures [3].
References:
[1] https://www.reuters.com/business/energy/conocophillips-sell-anadarko-assets-13-bln-profit-beats-estimates-2025-08-07/
[2] https://finance.yahoo.com/news/conocophillips-beats-second-quarter-profit-111002694.html
[3] https://www.worldoil.com/news/2025/8/7/conocophillips-to-sell-anadarko-basin-assets-for-1-3-billion-in-strategic-portfolio-shift/
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