Deals
Devon, Conoco Study $10 Billion Shell Permian Assets
- Chevron also among companies considering bids for fields
- Shell following other European majors in reducing acreage
An oil drilling rig in Reeves County, Texas. The Permian Basin of West Texas and New Mexico is the world’s busiest shale patch.
Photographer: Callaghan O'Hare/BloombergThis article is for subscribers only.
Devon Energy Corp. and ConocoPhillips are among potential suitors studying Royal Dutch Shell Plc’s portfolio of Permian Basin oil fields, which could be worth as much as $10 billion in a sale, people familiar with the matter said.
Chevron Corp. is also among companies considering bids for the assets, which are largely located in West Texas, the people said. Suitors have been invited to Shell’s data room to examine information on the business, the people said, asking not to be identified discussing confidential information.