January 15, 2013 at 15:02 PM EST
Conoco Selling Oilfields For $1.05 Bil To Denbury
ConocoPhillips (COP) will sell some of its oilfields in Montana and North Dakota for $1.05 billion to Denbury Resources (DNR) as it focuses on its shale oil and gas properties. The sale of roughly 86,000 acres in the Cedar Creek Anticline doesn't include any of Conoco's assets in the rich Bakken shale oil formation in those states, where it owns 626,000 net acres. The sale is the latest in Conoco's divestiture program that's raised about $12
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