Investing.com -- Energy producer ConocoPhillips (NYSE: COP ) is reportedly considering the sale of its oil and gas properties in Oklahoma, which it acquired as part of its $22.5 billion purchase of Marathon Oil (NYSE: MRO ) in 2021. The company has engaged investment bank Moelis & Co (NYSE: MC ) to oversee the sale process, according to Reuters, citing sources familiar with the situation. However, these discussions are in the early stages and a sale is not certain.

The assets in question include operations in the Anadarko basin, covering approximately 300,000 net acres. These assets are projected to yield a sale price of over $1 billion. The Anadarko assets currently generate about 39,000 barrels of oil equivalent per day, with approximately half of this output being natural gas .

The potential buyers of these assets could be producers anticipating an increase in demand for natural gas, particularly for power generation in data centers. Both ConocoPhillips and Moelis have declined to comment on this matter.

If the sale occurs, it would assist ConocoPhillips in reaching its goal of generating $2 billion through the sale of non-core assets. The Houston-based company, which assumed around $5.4 billion of Marathon’s debt as part of the acquisition, has already sold assets exceeding $1 billion in value since finalizing the Marathon deal in November.

The acquisition of Marathon Oil enhanced ConocoPhillips’ operations in the Permian, Eagle Ford, and Bakken basins. It also granted the company access to the Anadarko shale formation and operations in Equatorial Guinea.

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