Anyone know who is buying BP's Tuscaloosa Trends upstream assets?
BP announced August 17 it was selling its Tuscaloosa Treend upstream assets. They said the sale would be completed boy the end of this year. I understand that they have divided it into the West Assets and the East Assets. The East Assets include an area in East Baton Rouge Parish in the city of Central. BP completed the Edwards #1 well in June of 2010 yet they have not perfed or tested. Knowledgeable people say the well looks very good. "Pay" in 3 sands according to logs. Any info is appreciated. Thanks.
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Permalink Reply by Two Dogs, Pirate on -
They are selling off to pay for their mistakes in the Gulf.
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Permalink Reply by jack fulkerson on
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Thanks. I agree. I was just trying to find out WHO is buying this asset? The well should be a good well and the seismic work cost BP around $20-$30 million for this new area. Word is it will have to be a big player to afford the projected price tag of $650 million just for the west assets alone.
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