Cono­coPhillips to sell Bar­nett shale as­sets

The National - News - Business - - Inside Track -

Cono­coPhillips said yes­ter­day that it would sell its as­sets in the Bar­nett shale field in Texas to Miller Thomson & Part­ners LLC for about US$305 mil­lion. The largest US in­de­pen­dent oil pro­ducer said it ex­pects the deal to re­duce its 2017 pro­duc­tion fore­cast by less than 5 mil­lion bar­rels of oil equiv­a­lent per day. Cono­coPhillips said it does not ex­pect any ma­te­rial ef­fect to its 2017 cash flow or its other 2017 guid­ance items as a re­sult of the trans­ac­tion.

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