ConocoPhillips has entered into an agreement to sell its interest in the Barnett for a sum of $305 million plus net customary adjustments.
The assets will be sold to an affiliate of Miller Thomson & Partners, with the proceeds to be used for general corporate purposes.
Last year the Barnett assets produced 11,000 barrels of oil equivalent per day, of which about 55% was natural gas and 45% was natural gas liquids.
As of May this year the net book value of the assets was about $0.9 billion.
The transaction is subject to specific conditions being satisfied, including regulatory approval, and is expected to be completed in the third quarter of the year.
ConocoPhillips does not expect the transaction to have a material impact on cash flow in 2017.
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