ConocoPhillips (NYSE: COP) has completed its acquisition of Shell Enterprises LLC‘s Delaware basin position for $9.5 billion in cash.

The purchased assets include nearly 225,000 net acres and producing properties located in Texas and over 600 miles of operated crude, gas and water pipelines and infrastructure. The firm estimates 2022 production from the purchased assets will total 200 MBOED.

“This deal was justified on three key merits: it meets our rigorous cost of supply framework, we see a way to drive efficiencies from the assets, and the transaction makes our 10-year plan better,” added Ryan Lance, chairman and chief executive officer at ConocoPhillips.