Slaughter and May is advising Shell on certain aspects of the sale of its Permian business to ConocoPhillips

Slaughter and May is advising Shell on certain English law aspects of its sale of its Permian business to ConocoPhillips, a leading shales developer in the basin, for $9.5 billion in cash. The transaction will transfer all of Shell’s interest in the Permian to ConocoPhillips, subject to regulatory approvals. The cash proceeds from this transaction will be used to fund $7 billion in additional shareholder distributions after closing, with the remainder used for further strengthening of its balance sheet.