ConocoPhillips will sell its Anadarko Basin assets for $1.3 billion, the energy producer said after beating Wall Street estimates for second-quarter profit.

Shares of the company rose nearly 2% in premarket trade.

The asset sale, announced Thursday, Aug. 7, expected to close at the beginning of the fourth quarter, pushes ConocoPhillips past its $2 billion non-core asset disposition target ahead of schedule.

In April , Reuters reported ConocoPhillips was exploring the sale of its Oklahoma oil-and-gas assets that were secured under its $22.5 billion takeover of Marathon Oil in 2024 — a deal that had expanded the company's footprint in the Permian, Eagle Ford, and Bakken basins, while also adding operations in the Anadarko shale formation and Equatorial Guinea.

The Marathon deal he

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