While Bill Gates sets to build an artificial sun to power the world, and a Texas family raffles off untapped mineral rights on its land at $4 per ticket, Reese Energy Consulting is following the latest news from Houston-based ConocoPhillips (COP). The company has hardly been shy about slashing $5 billion in debt after acquiring Marathon Oil in 2024 in an all-stock deal valued at $22.5 billion. And divestitures are hardly anything new following a big honkin’ acquisition, especially the size of COP.

As one might expect, 2025 proved a hunting year for COP to target asset buyers to lower that debt and streamline the company’s portfolio. Buyers didn’t disappoint. COP sold its Marathon-inherited Anadarko Basin assets for $1.3 billion, Gulf of America offshore interests for $735 million, and non-core Permian assets for $600 million.

After closing $3.2 billion in asset sales last year, ConocoPhillips now is looking for new buyers to snap up more of its Permian assets–these in the Delaware, which it acquired from Concho Resources in 2020 for $9.7 billion and Shell in 2021 for $9.5 billion. Price to be fetched? $2 billion that would wipe that $5 billion debt goal cleaner than white vinegar, water, and a few drops of Dawn.

But wait, there’s more.

COP is now considering adding its Marathon-acquired Eagle Ford assets to the sales block. These temptations could well be small potatoes for ConocoPhillips, which announced earlier this month full year 2025 earnings of $8 billion and 2,320 MBOED.