Shell Plc (SHEL)

[DewDiligence]

More on RDS-COP Permian deal:

https://www.wsj.com/articles/shell-near-deal-to-sell-permian-assets-to-conocophillips-11632168002

Shell said $7 billion of the proceeds will be returned to shareholders [presumably in the form of share repurchases], while it will use the remainder [~$2.5B] to shore up its balance sheet.

The European oil giant had acquired the bulk of its Permian assets in 2012 from Chesapeake Energy Corp.for about $1.9 billion.

ConocoPhillips said the assets, entirely in Texas, included about 600 miles of oil, natural-gas and water pipelines and other energy infrastructure.

… The price tag was in line with recent deals in the Permian Basin, at around $47,500 per barrel of oil equivalent, said Subash Chandra, an analyst at Northland Capital Markets.