Have you heard about the multi-million dollar deal between ConocoPhillips and Shell? 🎉 ConocoPhillips is divesting itself of two oil fields in the Gulf of Mexico and a pipeline and is selling these assets to Shell (ex Royal Dutch Shell) for a whopping 735 million dollars $SHEL (-1,69%). The deal is expected to be completed by the end of the second quarter of 2025.
This transaction could be beneficial for both Conoco and Shell. For Conoco, it means fresh capital, while Shell can further expand its position in the Gulf of Mexico. ConocoPhillips' share price currently stands at EUR 96.40, while Shell is trading at EUR 32.40.
How do you see this development? Is this a smart move for both companies? Let's discuss it!