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ConocoPhillips to sell Rocky Mountain properties for $1.05 bln
January 15, 2013 / 12:45 PM / 5 years ago

ConocoPhillips to sell Rocky Mountain properties for $1.05 bln

Jan 15 (Reuters) - ConocoPhillips said it would sell its properties in the Cedar Creek Anticline in Montana and North Dakota to Denbury Resources Inc for $1.05 billion in cash to focus on its Bakken Shale properties in the same region.

The assets being sold comprise 86,000 net acres in southwestern North Dakota and eastern Montana.

ConocoPhillips’ net production from these properties averaged 13,000 barrels of oil equivalent per day through November 2012, the company said.

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