ConocoPhillips is preparing to sell a $1 billion portfolio of oil and gas assets in Oklahoma, potentially altering its entire operational strategy. The assets, inherited from its $22.5 billion acquisition of Marathon Oil in 2021, are located in the high-producing Anadarko basin. The sale, still in early stages, comes as part of a broader effort to streamline the company's portfolio and reduce a $5.4 billion debt burden. By offloading these non-core assets, ConocoPhillips aims to focus on high-return properties like the Permian and Eagle Ford basins. The sale could be a significant move for the energy industry, with potential buyers poised to take advantage of the rising demand for natural gas, driven by the growth of data centers and emerging energy trends. This bold decision will determine not just the company’s future but could also send shockwaves through the energy market.
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