ConocoPhillips said Wednesday that it plans to shed as much as $10 billion more in company assets and use the proceeds to buy back shares and reinvest in other areas.
The move would double the amount of assets that Conoco has planned to sell since last year while the company reshapes itself to focus more on oil and gas production and exploration.
It’s unclear if the company’s new focus would affect its plans for a large campus in Louisville.
In 2008, ConocoPhillips purchased a 432-acre site in Louisville formerly occupied by StorageTek and Sun Microsystems for $58.5 million. The company subsequently submitted preliminary plans to the east Boulder County city for a 2.5-million-square-foot research and global training campus to be developed over a more than 20-year period.
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