ConocoPhillips Said to Mull Selling $2 Billion in Permian Assets

ConocoPhillips is exploring a sale of some of its Permian Basin assets as part of a broader streamlining of its portfolio, according to people familiar with the matter.

The assets, picked up over the years through deals with Concho Resources Inc. and Shell Plc, are expected to fetch about $2 billion, the people said, asking not to be identified because the discussions are private.

The properties lie in what’s known as the Delaware Basin, a fast-growing swath of the largest and most productive oil field in the US — the Permian Basin in West Texas and New Mexico.

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