BP exits Alaska after 60 years in USD 5.6 billion Hilcorp sale
After operating in the US state for roughly 60 years, oil supermajor BP Plc has agreed to sell its Alaskan assets for USD 5.6 billion to Hilcorp Energy Co. Easy-to-extract US shale and other "growth-oriented asset bases" have diminished the region's appeal and rendered it a second-tier province for oil extraction.
BY KEVIN CROWLEY, BLOOMBERG NEWS
BP Plc agreed to sell its entire business in Alaska to closely held Hilcorp Energy Co. for USD 5.6 billion, ending a six-decade presence in the state as oil production there declines.
Already a subscriber?Log in here
Read the whole article
Get access for 14 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.
With your free trial you get:
- Access all locked articles
- Receive our daily newsletters
- Access our app
Get full access for you and your coworkers
Start a free company trial todayRelated articles:
.jpg)
US LNG puts pressure on Norwegian gas trade
For subscribers
US accuses China of aggressive oil and gas dominance
For subscribers
Shell bids over half a billion AUD for power company
For subscribers
