Friday, September 16, 2011

BP Makes It Official

Amoco's former "crown jewel", the Tuscaloosa, "went quietly in the night" this week.  BP's website did not even post a press release, but the Baton Rouge Advocate had an article about the sale to Hilcorp.
Key points:
-Current production is about 70 million standard cubic feet of gas a day, gross.
-35 wells
-BP signed the deal Sept. 8 and expects to complete the sale by Oct. 1.
No sale price was mentioned. The rumor is sub-$200M.

The entire article:

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