News Summary: ConocoPhillips selling some assets
ConocoPhillips selling Cedar Creek Anticline properties to Denbury subsidiary for $1.05B
NEW YORK (AP) -- THE TRANSACTION: Oil and natural gas company ConocoPhillips is selling some properties in North Dakota and Montana to a Denbury Resources Inc. subsidiary for $1.05 billion.
THE DETAILS: ConocoPhillips said that the Cedar Creek Anticline properties span about 86,000 net acres in southwestern North Dakota and eastern Montana. The sale doesn't include any of ConocoPhillips' Bakken Formation assets.
OTHER SALES: ConocoPhillips has raised about $12 billion from asset sales since the start of 2012.
