ConocoPhillips will sell up to $8 billion in natural gas assets and trim its capital budget by 4% next year to provide funds to bolster operations. Nov 10 (Reuters) – ConocoPhillips, the largest U.S. independent oil producer, will sell up to $8 billion in natural gas assets and trim its capital budget by 4 percent next year to provide funds to bolster operations, it said on Thursday. The moves highlight not only the energy industry’s increasing push for efficiency gains that reduce the cost of drawing oil and natural gas from the earth but also low commodity prices, which have hampered Conoco and its peers over the past two years. Shares of the Houston-based company were up 1 percent at $46.20 in premarket trading. They had fallen about 2 percent this year. The asset sale alone reflects a bold move by Chief Executive Ryan Lance to reduce the company’s […]