ConocoPhillips Puts Williston Basin Oil Assets Up For Sale

The company is constantly reviewing its portfolio to identify uncompetitive businesses and screening opportunities to both buy and sell assets, Chairman and Chief Executive Officer Ryan Lance said during an Aug. 3 second quarter earnings call.

Major oil companies are shedding assets as they focus on less carbon intensive operations. Royal Dutch Shell Plc’s portfolio of Permian Basin oil fields, which could be worth as much as $10 billion, is said to attract suitors including ConocoPhillips.