Conoco Phillips (COP) announced that the company has sold properties in the Barnett Shale to Kohlberg Kravis Roberts & Co (KKR). The company did not disclose a purchase price.
Kohlberg Kravis Roberts & Co is purchasing producing properties in Texas with 93 Bcfe of proved reserves. More than 90% of the reserves are categorized as proved developed producing.
Kohlberg Kravis Roberts & Co has a partnership with Premier Natural Resources to make investments in oil and gas assets and operates as KKR Natural Resources.