- (PLX AI) - Shell signs agreement to sell Permian interest for $9.5 billion to ConocoPhillips.
- • The cash proceeds from this transaction will be used to fund $7 billion in additional shareholder distributions after closing, with the remainder used for further strengthening of the balance sheet
- • These distributions will be in addition to our shareholder distributions in the range of 20-30% of cash flow from operations
- • The effective date of the transaction is July 1, 2021 with closing expected in Q4 2021