Mike Mozart
The deal will ensure BP's presence in the Perm basin. The company will also receive assets at the Eagle Ford field in the south of Texas and the Haynesville oil field in the east of Texas and in Louisiana.
"We just got access to some of the best sites on some of the best shale deposits in the United States," said Bernard Looney ща BP.
After an accident on the Deepwater Horizon platform in 2010, which led to an oil spill in the Gulf of Mexico, BP sold the plots and infrastructure in the Perm basin and missed the recent boom in the region. The deal with BHP underscores BP's growing confidence that the end of a series of suits and fines that exceed $ 60 billion is approaching.
The deal is a "transformational acquisition," said BP CEO Bob Dudley. As a result of the acquisition, BP production will increase by 190,000 barrels of oil equivalent per day. The explored reserves of hydrocarbons on the acquired fields amount to 4.6 billion barrels of oil equivalent.
As reported earlier, BHP Billiton, the world's largest mining company, said in August 2017 that it would withdraw from its shale oil and gas business in the US due to weak results. BHP took this decision under pressure from the hedge fund Elliott Management, which owns a stake in the company.
The deal with BP and the sale for $ 300 million of assets in the Fayetteville field to the Merit Energy Co. division completes BHP’s exit from the sector, and the proceeds will be returned to shareholders, the company's CEO Andrew McKenzie said.
BHP also said it would increase quarterly dividends by 2.5% to 10.25 cents per share. This is the first increase in 15 quarters.
source: bloomberg.com
"We just got access to some of the best sites on some of the best shale deposits in the United States," said Bernard Looney ща BP.
After an accident on the Deepwater Horizon platform in 2010, which led to an oil spill in the Gulf of Mexico, BP sold the plots and infrastructure in the Perm basin and missed the recent boom in the region. The deal with BHP underscores BP's growing confidence that the end of a series of suits and fines that exceed $ 60 billion is approaching.
The deal is a "transformational acquisition," said BP CEO Bob Dudley. As a result of the acquisition, BP production will increase by 190,000 barrels of oil equivalent per day. The explored reserves of hydrocarbons on the acquired fields amount to 4.6 billion barrels of oil equivalent.
As reported earlier, BHP Billiton, the world's largest mining company, said in August 2017 that it would withdraw from its shale oil and gas business in the US due to weak results. BHP took this decision under pressure from the hedge fund Elliott Management, which owns a stake in the company.
The deal with BP and the sale for $ 300 million of assets in the Fayetteville field to the Merit Energy Co. division completes BHP’s exit from the sector, and the proceeds will be returned to shareholders, the company's CEO Andrew McKenzie said.
BHP also said it would increase quarterly dividends by 2.5% to 10.25 cents per share. This is the first increase in 15 quarters.
source: bloomberg.com
