BP Divests Alaska Business to Hilcorp for $5.6 Billion

Oil prices, crude oil exports and uncertainty avoidance

Houston-based private oil & gas producer Hilcorp has agreed to acquire BP’s Alaska business for $5.6 billion consisting of $4 billion payable near-term and $1.6 billion payable through earnouts. The deal adds 74,000 boe/d from a number of fields including a 26% interest in Prudhoe Bay. “BP was a pioneer in Alaskan drilling and one […]