April 13 ConocoPhillips said on Thursday
it would sell natural gas-heavy assets in San Juan basin,
spanning New Mexico and Southwestern Colorado, to an affiliate
of privately held Hilcorp Energy Co for about $3 billion.
Conoco will receive $2.7 billion in cash.
The deal also includes a contingent payment of up to $300
Hilcorp has a partnership with private equity firm Carlyle
Group LP to acquire and develop North American oil and gas
(Reporting by Ahmed Farhatha in Bengaluru; Editing by Sriraj