ConocoPhillips Could Sell Stake in REX Pipeline
Reported by Staff
ConocoPhillips could sell its 25 percent stake in the Rockies Express Pipeline as part of the oil giant’s plan to divest $10 billion in assets, a senior executive said this week during an energy conference.
The energy giant has a 25% stake in the 1,679-mile line that stretches from northwestern Colorado to eastern Ohio and can deliver 1.8 billion cubic feet per day of gas. As we reported last week in Colorado Energy News, the final leg of the REX project became operational this month.
Jeff Sheets, Conoco’s senior vice president for planning and strategy, told the Bank of America Merrill Lynch energy conference that the pipeline “might be a good candidate for us.”
Kinder Morgan Energy Partners LP owns 50% of REX and Sempra Energy the other 25%.
Filed Under: ARCHIVES • Corporate News
Tags: ConocoPhillips • Kinder Morgan Energy Partners • REX • Rockies Express
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