Who did BP Sell Alaska Assets?
Table of Contents
Who did BP Sell Alaska Assets?
Hilcorp
In August 2019 bp announced it would exit Alaska, selling its business to Hilcorp for a total consideration of $5.6 billion.
Who bought out BP in Alaska?
Hilcorp Energy Co
(Reuters) – Privately held Hilcorp Energy Co said on Friday its unit completed a $5.6 billion acquisition of BP Plc’s business in Alaska, taking over the region the British oil major had operated in for 60 years.
Is BP leaving Alaska?
BP sold its Alaska holdings July 1 to Hilcorp Energy, a midsize Texas-based independent that owns and operates smaller Alaskan fields. Hilcorp has a reputation for purchasing mature, declining assets and aggressively redeveloping them.
Who is hilcorp Alaska?
Hilcorp was founded in 1989 and it has been our mission from the beginning to be the premier independent exploration production company in the country. Today, we are the largest privately owned oil and natural gas producer in the United States.
Why did BP leave Alaska?
The extreme cold and remoteness of some of the drilling regions of Alaska makes it expensive for firms to operate there. BP’s chief executive Bob Dudley said Hilcorp had the ability to “maximise its [the business’s] value for the State of Alaska.”
Who owns Alaskan pipeline?
Alyeska Pipeline Service Company
| Trans-Alaska Pipeline System | |
|---|---|
| Owner | Alyeska Pipeline Service Company |
| Partners | BP (1970–2020) ConocoPhillips (1970–present) ExxonMobil (1970–present) Hilcorp Energy Company (2020–present) Koch Industries (2003–2012) Unocal (1970–2019) Williams Companies (2000–2003) |
| Commissioned | 1977 |
| Technical information |
Who owns Prudhoe Bay?
Prudhoe Bay is operated by BP in Alaska. The working interest owners include: BP, 26 percent; ConocoPhillips, 36 percent; ExxonMobil, 36 percent; Chevron, 1 percent.
What is the largest oil field in the US?
Prudhoe Bay Oil Field
Prudhoe Bay Oil Field is a large oil field on Alaska’s North Slope. It is the largest oil field in North America, covering 213,543 acres (86,418 ha) and originally containing approximately 25 billion barrels (4.0×109 m3) of oil.
Is the Alaskan pipeline operational?
The Trans-Alaska Pipeline System (TAPS) is an oil transportation system spanning Alaska, including the trans-Alaska crude-oil pipeline, 11 pump stations, several hundred miles of feeder pipelines, and the Valdez Marine Terminal….
| Trans-Alaska Pipeline System | |
|---|---|
| Owner | Alyeska Pipeline Service Company |
How much is Jeff Hildebrand worth?
6.9 billion USD (2022)Jeffery Hildebrand / Net worth
What does Hildebrand mean in German?
Hildebrand is a character from Germanic heroic legend. Hildebrand is the modern German form of the name: in Old High German it is Hiltibrant and in Old Norse Hildibrandr. The word hild means “battle” and brand means “sword”.
