ConocoPhillips is currently considering selling some of its assets in the Permian Basin to further streamline its investment portfolio. According to informed sources, the assets up for sale primarily originate from ConocoPhillips' previous acquisition of Concho Resources and interests purchased from Shell. The total transaction value is estimated to be around $2 billion.

To advance this potential transaction, ConocoPhillips has hired financial advisors to assist in finding suitable buyers. Potential bidders may include strategic investors and private equity firms. However, sources also indicate that the review is still in its preliminary stages, and ConocoPhillips may ultimately choose to retain these assets instead of proceeding with a sale.

In its latest fourth-quarter financial report, ConocoPhillips disclosed that it had achieved approximately $3.2 billion in asset disposal revenue. The company aims to complete a total of $5 billion in asset sales by the end of 2026 to optimize its business structure and capital allocation efficiency. This strategic move reflects the company's ongoing efforts to focus on core assets and enhance shareholder returns.

The Permian Basin is one of the most resource-rich areas for shale oil and gas in the United States. Through multiple acquisitions, ConocoPhillips has established a large-scale operation in the region. If this potential sale proceeds, it will help the company further concentrate on its most competitive development projects while providing funding support for possible future capital return plans. ConocoPhillips has not yet responded to Reuters' request for comment regarding the related Bloomberg report.