Unstructured Finance

Deals wrap: Conoco may double assets sale

March 23, 2011

ConocoPhillips, the third-largest U.S. oil company, said it might double its planned sale of less-desirable assets to $20 billion, with proceeds going to buy back stock.

Do Conoco’s asset sales offer hope for BP?

July 7, 2010

Deutsche Bank analyst Paul Sankey says the U.S. oil major may overshoot its $10 billion target for asset sale by 50 percent. He reinstated coverage of ConocoPhillips with a “buy” rating, crediting the rising premiums the company has been able to command. So far, Conoco has raised more than $5 billion from the sale of stakes in its Canadian oil sands venture, Syncrude, to China’s Sinopec and the stake in a truck stop joint venture to Pilot Travel Centers.