BP sells Alaska North Slope assets to Hilcorp, deal could be worth $1.5B, Could Trumbull County be Next?? • 6:21 PM Seeking Alpha

BP sells Alaska North Slope assets to Hilcorp, deal could be worth ... 

  • BP agrees to sell interests in four operated oilfields on Alaska's North Slope to privately held Hilcorp, including 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 assets produce ~19.7K boe/day.
  • A value for the deal is not disclosed, but according to analysis from U.S. Capital Advisors, the average enterprise value of U.S. onshore oil and gas assets is ~$90K per flowing barrel, which would imply that Hilcorp could be paying BP at least $1.5B.
  • BP E&P chief Lamar McKay says the deal will free the company to focus on the giant Prudhoe Bay field and the opportunity to export Alaskan natural gas.

Could Hilcorp's next target be BP's Trumbull County Leases??

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