Conrail Shared Assets Operations is an American railroad company. It operates three networks—the North Jersey, South Jersey/Philadelphia, and Detroit Shared Assets Areas, where it serves as a local carrier and switching company for CSX Transportation and the Norfolk Southern Railway. When most of the former Conrail's track was split between these two railroads, the three shared assets areas (a total of about 1,200 miles of track) were kept separate to avoid giving one railroad an advantage in those areas.
The North Jersey Shared Assets Area stretches from the North Bergen Yard in North Bergen, New Jersey south into Jersey City and Newark, and beyond to Manville and Trenton, much of which is operated over Amtrak's Northeast Corridor and New Jersey Transit lines through trackage rights. Primary connections are to CSX's River Subdivision north to Albany, New York at North Bergen, NS's Southern Tier Line northwest to Buffalo, New York at Croxton Yard in Jersey City, NS's Lehigh Line west to Allentown, Pennsylvania and CSX's Trenton Subdivision southwest to Philadelphia, Pennsylvania at Manville, and the Conrail South Jersey/Philadelphia Shared Assets Area at Trenton. Oak Island Yard is the principal yard for the region with smaller ones at Bayonne, Greenville (Jersey City), Linden, Manville, Metuchen, Newark, Old Bridge, Port Reading (Woodbridge), and Red Bank.
The South Jersey/Philadelphia Shared Assets Area is operated out of Pavonia Yard in Camden, New Jersey.
- Atlantic City Line - trackage rights along New Jersey Transit from Bordentown Secondary at Delair, New Jersey to Winslow Junction, New Jersey
- Beesley's Point Secondary - Vineland Secondary at CP Brown in Camden, New Jersey to Winslow Junction, New Jersey, and trackage rights along New Jersey Transit to Beesley's Point Industrial Track at Palermo, New Jersey
- Bordentown Secondary - Camden Running Track Pavonia Yard at CP Hatch to Northeast Corridor at Millham in Trenton, New Jersey
- Freehold Industrial Track-a line which diverges from the Amboy Secondary at Monmouth Junction, NJ and heads southeastward through Freehold, with an inactive portion which continues to a junction with the Southern Secondary in Farmingdale, NJ
- Grenloch Industrial Track - the Vineland Secondary Track in North Gloucester City, NJ to the Interstate Business Park in Bellmawr, NJ.
- Northeast Corridor - trackage rights along Amtrak (Northeast Corridor) from Northern New Jersey operations border at Princeton Junction, New Jersey to Zoo Tower in Philadelphia, Pennsylvania
- Penns Grove Secondary - Salem Secondary and Vineland Secondary at Woodbury, New Jersey to Deepwater Point Running Track at Penns Grove, New Jersey
- Robbinsville Industrial Track - Bordentown Secondary at Bordentown, New Jersey to Robbinsville, New Jersey
- Southern Secondary- trackage rights over NJ Transit's North Jersey Coast Line from South Amboy to Red Bank, NJ, then over the former Central Railroad of New Jersey's Southern Division from Red Bank to Lakehurst, NJ, and a mostly inactive spur to Toms River, NJ. Also connecting in Farmingdale, NJ is the Freehold Secondary.
- Delair Branch - Bordentown Secondary and Camden Running track at CP Hatch Delair, New Jersey to CSX (Philadelphia Subdivision and Trenton Subdivision) at Zoo Junction in Philadelphia, PA.
- Deepwater Point Running Track - Penns Grove Secondary at Penns Grove, New Jersey to Deepwater, New Jersey
- Salem Secondary - Penns Grove Secondary and Vineland Secondary at Woodbury, New Jersey to Swedesboro, New Jersey for a connection to the Southern Railroad of New Jersey's Salem Branch
- Vineland Secondary - Camden Running track at CP Mill at the south end of Pavonia Yard in Camden to Millville, New Jersey
Delair Bridge 
The south track at the Delair Lift Bridge (part of the Delair Branch) is used by Conrail; the north track is used by New Jersey Transit's Atlantic City Line.
The Detroit Shared Assets Area consists of three main lines:
- Utica to Milepost 20 (junction with Norfolk Southern Detroit Line)
- Michigan Line (runs parallel to Michigan Avenue, US Hwy 12): CP-Townline in Dearborn (junction with Amtrak Michigan District) to CP-Bay City Jct.
- Lincoln Secondary (From junction with CSXT Toledo Terminal Subdivision at Carleton to Ecorse Junction in Detroit). Trains can operate within the 5 blocks along the secondary: Outer, Sibley, Penford, Guard, Graft on track warrants issued by the CSX RL Dispatcher located in Calumet City, Illinois.
CP-West Detroit, Delray, CP-YD, and River Rouge Yard lie close to each other on the Utica/MP 20 line, giving the whole a rough K-shape. Various spurs and industrial tracks branch off from this trackage.
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