ConocoPhillips Considers Selling Permian Assets Worth $2 Billion

ConocoPhillips is exploring a sale of some of its Permian Basin assets as part of a broader streamlining of its portfolio, according to people familiar with the matter.

The assets, picked up over the years through deals with Concho Resources Inc. and Shell Plc, are expected to fetch about $2 billion, the people said, asking not to be identified because the discussions are private.