ConocoPhillips
Transaction Type
Sellers
Marketers
Basin
Gulf Coast
Post Date
Close Date
Estimated Price
0MM
Description
ConocoPhillips has retained Jefferies & Co. Inc. to sell certain assets in southeastern Louisiana.
The southeastern Louisiana package includes operated and nonoperated assets around salt domes in complex sandstone reservoirs with multiple stacked pays. Net production is approximately 8,000 barrels of oil equivalent per day (50% of cash flow is oil). Upside includes behind-pipe opportunities and exploration.
The data room will open in July. The bid due date is Aug. 9. The effective date is July 1. Closing is expected by Sept. 20.
Contact Dave Roussel, 281-774-2090, droussel@jefferies.com.