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Conoco selling oil field interests

September 22, 1982



Stamford, Conn.

Conoco Inc. announced Monday it is selling its interest in 29 oil and natural gas fields in the United States to help reduce the debt of its parent company, Du Pont Company.

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Conoco said it has reached an agreement in principle with Petro-Lewis Corporation of Denver to sell all its interest in four offshore fields and 24 percent of the company's interest in 25 onshore fields for $772 million.

Oil production from the fields averaged 13.7 percent of Conoco's total US productions in the first half of 1982.