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ConocoPhillips picks up Permian assets from Shell

​​​HOUSTON – ConocoPhil​lips has purchased 225,000 net acres in the Permian Basin fr​om Royal Dutch Shell for $9.5 billion. 

The purchase also includes 600 miles of associated infrastructure​. 

The deal marks Shell’s exit from the largest U.S. oilfield to focus on clean energy. ​

ConocoPhillips already owned 750,000 net acres in the Permian.

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​Source: Connect CRE

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