Tag: Hilcorp
Hilcorp Alaska to Purchase BP’s Alaska Business
BP announced that it will soon sell its entire Alaskan business to Hilcorp Alaska, based in Anchorage, Alaska. Under the terms of the agreement, Hilcorp will purchase all of BP's interests in the state for a total consideration of $5.6 billion.The sale will include BP's upstream and midstream business in the state, including BP Exploration (Alaska) Inc., that owns all of BP's upstream oil and gas interests in Alaska, and BP Pipelines (Alaska) Inc.'s interest in the Trans Alaska Pipeline System (TAPS).Bob Dudley, BP group chief executive, said "Alaska has been instrumental in BP's growth and success for well over half a century and our work there has helped shape the careers of many throughout the company.