ConocoPhillips (COP), the largest U.S. oil and gas producer after Exxon Mobil (XOM) and Chevron (CVX), has expressed interest in participating in the sale process for privately held CrownRock, an energy producer in Texas’ Permian basin, people familiar with the matter told Reuters’ David French. CrownRock’s investment bankers have asked interested parties to submit initial offers next week and Diamondback Energy (FANG), Devon Energy (DVN), Marathon Oil (MRO) and Continental Resources (CLR) are also studying potential bids, the report said. CrownRock is valued between $10B and $15B, the sources said.
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