BP said it completed the sale of its Prudhoe Bay oil and gas producing properties to closely-held Hilcorp Energy, ending 60 years as a top Alaskan oil producer. BP and other oil majors have reduced their production roles in the northernmost U.S. state as output slid and lower-cost fields emerged elsewhere. Hilcorp, known for buying
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BP has confirmed its commitment to completing the sale of its Alaska (US) business to Hilcorp, first announced in August 2019. Subject to regulatory approvals, the parties expect to complete the transaction in June 2020. Reflecting recent significant market volatility and oil price falls, BP and Hilcorp have successfully renegotiated the financial terms of the
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Shell Midstream Partners LP announced that it is considering expanding its 163-mile-long Mars crude oil pipeline in the Gulf of Mexico, the company said in a Thursday earnings call, as the current system nears capacity according to Reuters. SHLX, formed by Shell to own and operate pipelines and other midstream assets, said that interest from
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