BP exits Alaska after 60 years in $5.6bn Hilcorp Energy sale
The US interior department is preparing to sell drilling rights in the Arctic National Wildlife Refuge later in 2019
27 August 2019 - 21:54
Houston — BP has agreed to sell its entire business in Alaska to closely held Hilcorp Energy for $5.6bn, ending a six-decade presence in the state as oil production there declines.
The deal includes BP’s operating stake in Prudhoe Bay, the largest-producing oilfield in US history, as well as all its Alaskan pipelines, London-based BP in a statement. For Hilcorp, the oil company founded by Texas billionaire Jeffery Hildebrand, it is the largest acquisition in its history and adds to Alaskan assets bought from BP in 2014...
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