JUNEAU, Alaska (AP) — BP mentioned it has accomplished its sale of property and possession pursuits in Alaska to Hilcorp, in a $5.6 billion deal first announced in 2019.
BP introduced Friday completion of its sale of pipeline pursuits, together with its stake within the trans-Alaska pipeline, to Harvest Alaska, an affiliate of Hilcorp, following conditional approval of that a part of the deal by the Regulatory Fee of Alaska earlier this week. Paperwork requested by the fee, due Dec. 28, didn’t but present up as filed. The fee’s order additionally will be appealed.
In July, Hilcorp and BP introduced they’d closed the portion of the deal that included switch of leases within the Prudhoe Bay oil area and Level Thomson fuel area.
BP and Hilcorp spokespeople Friday mentioned the sale, introduced in August 2019, is now closed.
Jason Rebrook, CEO of Harvest Midstream, in a press release known as the acquisition of BP’s roughly 49% curiosity within the trans-Alaska pipeline system a “essential milestone” for his firm. The 800-mile pipeline system “is an icon of American ingenuity” with a observe document of “protected and accountable operations” and a legacy the corporate plans to construct on, he mentioned.
The Alaska Public Curiosity Analysis Group has raised considerations with the deal.