ConocoPhillips Eyes $1B Sale of Oklahoma Oil & Gas Assets

Group 1 - ConocoPhillips is considering the sale of its oil and gas assets in Oklahoma, acquired through its 22.5 billion takeover of Marathon Oil last year, with the potential sale managed by Moelis & Co [1] - The assets cover approximately 300,000 net acres in the Anadarko Basin, producing around 39,000 barrels of oil equivalent per day, with an expected sale price of over 1 billion [2] - The sale aligns with ConocoPhillips' strategy to streamline its portfolio and raise $2 billion through asset sales, having already sold more than$1 billion worth of non-core assets since the acquisition [3] Group 2 - Potential buyers may include producers looking to benefit from rising natural gas demand, particularly for power generation in data centers, as energy consumption from data centers is projected to surge [4] - If the deal materializes, it would allow ConocoPhillips to focus on higher-return assets in key regions such as the Permian, Eagle Ford, and Bakken basins, which were strengthened by the Marathon acquisition [5]