ConocoPhillips announces agreement to sell Barnett assets
ConocoPhillips has entered into an agreement to sell its interests in the Barnett shale play, near Fort Worth, Texas, to Lime Rock Resources for approximately $230 million plus net customary adjustments. Proceeds from this transaction will be used for general corporate purposes.
Production associated with the Barnett assets for the first half of 2018 averaged 9,000 boed, of which approximately 55% was natural gas and 45% was natural gas liquids. The transaction is subject to specific conditions precedent being satisfied and is expected to close by year-end 2018.
