Chrysaor E&P completed its acquisition of the United Kingdom E&P Subsidiaries of ConocoPhillips for $2.7bn.

ConocoPhillips, the world’s largest independent E&P company, sold United Kingdom E&P Subsidiaries to Chrysaor E&P, the UK oil & gas independent company, for $2.7bn. “We are extremely proud of the legacy we’ve built in the UK over the last 50 years and are pleased that Chrysaor recognizes the value of this business. This disposition is part of our ongoing effort to hone our portfolio and focus our investments across future low cost of supply opportunities,” Ryan Lance, ConocoPhillips chairman and chief executive officer.