Shell to sell Permian assets to ConocoPhillips in major shale deal - NewsBreak
By Bryan in Business
Updated 3 years ago
Royal Dutch Shell is selling its assets in the prolific Permian Basin shale oil-and-gas basin in Texas to ConocoPhillips in a $9.5 billion cash transaction. Why it matters: Monday's announcement latest of several big deals in the U.S. oil sector in recent years that are bringing consolidation to the shale sector.
