BP Completes Sale of Upstream Alaska Businesses to Hilcorp
July 01 2020 - 1:22PM
Dow Jones News
By Stephen Nakrosis
Energy company BP PLC said Wednesday it completed the sale of
its upstream Alaska business to Hilcorp Energy Co.
The company said it continues to work with Hilcorp and
regulators to complete the sale of its midstream business.
BP announced the deal in August and also said at the time it was
exiting Alaska.
Under the terms of the $5.6 billion deal, Hilcorp is acquiring
BP's upstream and midstream businesses in the state, including BP
Exploration (Alaska) Inc. and BP Pipelines (Alaska) Inc.'s interest
in the Trans Alaska Pipeline System, the company said.
-Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
July 01, 2020 13:07 ET (17:07 GMT)
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