ConocoPhillips said Tuesday that it will sell some of its properties in Montana and North Dakota to Plano, Texas–based oil and gas company Denbury Resources for $1.05 billion.
ConocoPhillips, based in Houston, split itself into two publicly traded companies in 2011, spinning off its refining business to shareholders. Since then, the energy company has pared down its holdings by a total of $12 billion by selling assets—including Tuesday’s property sale—since the beginning of 2012. Last month, the company sold its Nigerian oil unit to Oando Energy Resources Inc. for $1.79 billion.
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