ConocoPhillips has completed the sale of a major portfolio of Oklahoma energy assets to privately owned Stone Ridge Energy for approximately $1.3 billion. These assets were inherited from ConocoPhillips' acquisition of Marathon Oil.
This divestiture is a key part of ConocoPhillips' ongoing portfolio optimization strategy, focusing on high-grading its asset base. The sale generates substantial capital that can be redeployed into more strategic investments or returned to shareholders.
The transaction contributes to Stone Ridge Energy's expanding investments in upstream energy assets, bringing their total to approximately $9 billion since 2021. For ConocoPhillips, it reinforces its commitment to a low-cost of supply portfolio.
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