Brief: ConocoPhillips Announces Agreement To Acquire Liquids-Rich Montney Acreage From Kelt Exploration

Kelt Exploration

22/07/2020 23:29

July 22 (Reuters) - ConocoPhillips  COP.N :
    * CONOCOPHILLIPS ANNOUNCES AGREEMENT TO ACQUIRE LIQUIDS-RICH
MONTNEY ACREAGE FROM KELT EXPLORATION LTD.
    * CONOCOPHILLIPS - DEAL FOR CASH CONSIDERATION OF
APPROXIMATELY
$375 MILLION
    * CONOCOPHILLIPS - DEAL FOR CASH CONSIDERATION OF
APPROXIMATELY
$375 MILLION BEFORE CUSTOMARY ADJUSTMENTS
    * CONOCOPHILLIPS -  ATTRIBUTES FOR TRANSACTION INCLUDE
ADDING OVER
1 BILLION BBOE HIGH-VALUE RESOURCE WITH AN ALL-IN COST OF SUPPLY
OF MID-$30S (WTI BASIS)
    * CONOCOPHILLIPS - DEAL INCLUDES ASSUMPTION OF ABOUT $30
MILLION
IN FINANCING OBLIGATIONS FOR ASSOCIATED PARTIALLY OWNED
INFRASTRUCTURE
    * CONOCOPHILLIPS - INITIATED PRODUCTION FROM ITS MONTNEY
DEVELOPMENT IN Q1 OF 2020
    * CONOCOPHILLIPS - PRODUCTION ASSOCIATED WITH ACQUIRED ASSET
IS
ABOUT 15 THOUSAND BARRELS OF OIL EQUIVALENT PER DAY

Source text for Eikon:  ID:nBw66yZH7a 
Further company coverage:  COP.N 

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