ConocoPhillips Sells Ursa and Europa Fields to Shell for $735 Million

February 21, 2025 – ConocoPhillips (NYSE: COP) announced today it’s selling its stakes in the Ursa and Europa Fields, plus the Ursa Oil Pipeline Company LLC, to Shell subsidiaries for $735 million. The deal, subject to closing adjustments, involves deepwater Gulf of America assets and is part of ConocoPhillips’ portfolio optimization strategy.

The sale gives ConocoPhillips cash to focus on high-priority projects while Shell bolsters its Gulf (of America) presence. Both companies expect regulatory approval to wrap up the transaction in the coming months. No specific timeline was shared.

This move reflects broader industry trends of asset reshuffling to balance profitability and long-term goals in a shifting energy landscape.