The mega transaction will make the private equity-backed U.K. oil company one of the basin’s largest producers. : Chrysaor Holdings, the private-equity backed U.K. oil company, has entered into an agreement to acquire the North Sea assets of U.S. energy major ConocoPhillips for $2.7 billion, plus interest and customary adjustments. The sale will boost Chrysaor’s production by about 72,000 barrels per day to 177,000, turning it into one of the U.K.’s largest operators. The transaction is subject to regulatory approval but is expected to complete in late 2019.