ConocoPhillips close to selling Canadian assets

Agreement soon: ConocoPhillips is among producers that have turned to asset sales to shore up their balance sheets and focus on core areas after oil prices plunged by more than half since last year’s highs. – AP

TORONTO: ConocoPhillips, the third-largest North American oil and gas producer, is nearing a deal to sell several Western Canadian assets to various buyers including Canadian Natural Resources Ltd, people with knowledge of the matter said.

An agreement could be reached as early as this week, said the people, who asked not to be identified because the discussions are private.