ConocoPhillips Puts Some Canadian Assets Up for Sale (Update2)

ConocoPhillips, the third-largest U.S. energy company, plans to sell some of its Canadian oil and natural-gas properties to free up resources for higher-priority investments.

ConocoPhillips likely will direct more capital to gas properties in the Rocky Mountain region that it acquired through the Burlington deal, Goodof said. Those fields produce at a lower cost than the assets the company is selling, he said.