Chrysaor has reached a deal to acquire ConocoPhillips’ UK oil and gas business for $2.675 billion. Chrysaor is a private company established in 2007 focussing on generating superior equity returns by developing and commercialising oil and gas incremental resources. This acquisition supports Chrysaor’s goal of becoming ‘one of Europe’s leading independent, full cycle exploration and production companies’. The assets being acquired produced approximately 72,000 barrels of oil equivalent per day in 2018.