Divestiture • Oil/Gas Exploration

Shell Acquires ConocoPhillips - Ursa & Europa Fields

On February 21, 2025, Shell acquired oil/gas exploration company ConocoPhillips - Ursa & Europa Fields from ConocoPhillips for 735M USD

Acquisition Context
  • This is Shell’s 5th transaction in the Oil/Gas Exploration sector.
  • This is Shell’s 4th largest (disclosed) transaction.
  • This is Shell’s 5th transaction in the United States.
  • This is Shell’s 1st transaction in Texas.

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M&A Deal Summary

Date February 21, 2025
Target ConocoPhillips - Ursa & Europa Fields
Sector Oil/Gas Exploration
Buyer(s) Shell
Sellers(s) ConocoPhillips
Deal Type Divestiture
Deal Value 735M USD

Target Company

ConocoPhillips - Ursa & Europa Fields

Houston, Texas, United States
ConocoPhillips' Ursa & Europa Fields provides exploration and production services.
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Buyer Overview 1

Buyer

Shell

London, United Kingdom

Category Company
Founded 1907
Sector Oil/Gas Exploration
Employees96,000
Revenue 284.3B USD (2024)
DESCRIPTION

Shell is an Anglo–Dutch multinational oil and gas company. Shell was founded in 1907 and is based in London, United Kingdom.


Deal Context for Buyer #
Overall 12 of 12
Sector: Oil/Gas Exploration 5 of 5
Type: Divestiture 1 of 1
State: Texas 1 of 1
Country: United States 5 of 5
Year: 2025 1 of 1
Size (of disclosed) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-28 Nature Energy

Odense, Denmark

Nature Energy operates plants with associated infrastructure, feedstock arrangements, and current 2022 production of around 6.5 mln MMBtu/y. Nature Energy was founded in 1979 and is based in Odense, Denmark.

Buy €1.9B

Seller Profile 1

SELLER

ConocoPhillips

Houston, Texas, United States

Category Company
Founded 1917
Sector Oil/Gas Exploration
Employees11,800
Revenue 54.7B USD (2024)
DESCRIPTION
Entrance to ConocoPhillips' corporate campus in Houston, Texas.
Entrance to ConocoPhillips' corporate campus in Houston, Texas.

ConocoPhillips is an integrated energy company with operations and activities across the world. ConocoPhillips was incorporated in 1917 and is based in Houston, Texas.


Deal Context for Seller #
Overall 11 of 11
Sector: Oil/Gas Exploration 7 of 7
Type: Divestiture 10 of 10
State: Texas 6 of 6
Country: United States 10 of 10
Year: 2025 1 of 1
Size (of disclosed) 3 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-29 Marathon Oil

Houston, Texas, United States

Marathon Oil is an international oil exploration and production company. Marathon has net proved reserves of more then 2 billion barrels of oil equivalent across North America, Europe and Africa. Marathon Oil was formed in 1887 and is based in Houston, Texas.

Buy $22.5B