ConocoPhillips Sells 3 North Sea Fields to Endeavor For $330M

ConocoPhillips

, the third-largest U.S. oil company, said it will sell stakes in three North Sea fields to Endeavour International

for $330 million as part of the oil giant's asset divesture program. Texas-based ConocoPhillips is in the midst of a three-year $15 billion to $20 billion asset sales program. Current net production from this asset group is approximately 10,000 barrels of oil equivalent per day, Endeavour said in a statement. Endeavour will acquire a 23.4% interest in the Alba field, which is currently operated by Chevron

, the second-largest U.S. oil company. The company will also gain a 40% interest in the MacCulloch field and an 18% stake in the Nicol field. The transaction is expected to close in the first half of next year.