BP to sell to Hilcorp certain interests in four ANS assets

BP PLC reported that it will sell interests in four BP-operated oil fields on the Alaska North Slope to Houston independent Hilcorp.

The agreement includes all of BP’s interests in the Endicott and Northstar oil fields and a 50% interest in each of the Liberty and the Milne Point fields. The sale also includes BP’s interests in the oil and gas pipelines associated with these fields.

Together the assets included in the sale represent about 19,700 boe/d of net production for BP, less than 15% of BP’s total net production on the ANS.

As a result of the sale and subject to approval, Hilcorp is expected to become the operator of Endicott, Northstar, and Milne Point oil fields and their associated pipelines and infrastructure.