ConocoPhillips Sells $2 Billion Of U.S. Pipeline Assets

As part of its ongoing strategy to create shareholder value, ConocoPhillips will sell its interests in two U.S. pipeline companies for $2 billion. ConocoPhillips has agreements with a subsidiary of Caisse de dépôt et placement du Québec for its 16.55% interest in Colonial Pipeline Co. and Colonial Ventures LLC. In addition, ConocoPhillips has entered into agreements with Enbridge Holdings (Seaway) L.L.C., a subsidiary of Enbridge (U.S.) Inc., for its ownership interest in the Seaway Crude Pipeline Co.