BP intends to divest Texas Panhandle assets

BP America Production Co. said it intends to divest assets in the Hugoton and Panhandle West fields in Sherman and Moore counties in the Texas Panhandle. The company will retain deep rights below the base of the Brown Dolomite, it said.

BP owns more than 270,000 gross acres in the two counties, encompassing 830 leases, 475 operated wells—a majority of which BP owns 100% working interest—along with 37 nonoperated wells. Other operators include ConocoPhillips Co. and Pantera Petroleum Inc.

The helium and liquids-rich sour gas play has total current BP production of 4,600 boe/d, NGL production of 2,000 b/d, residue gas production of 15 MMcfd, and helium production of 96 Mcfd.

The Eagle Rock gathering system serves as the primary field gathering system for Sherman and Moore counties, receiving 80% of BP’s production (OGJ Online, Aug. 13, 2012). The remaining gas is gathered by DCP Midstream Partners LP.

BP in 2012 sold its Kansas Hugoton assets to Linn Energy LLC for $1.2 billion (OGJ Online, Feb. 28, 2012). In February, Occidental Petroleum Corp. agreed to sell its Hugoton assets spanning southwest Kansas, the Oklahoma panhandle, and eastern Colorado to an undisclosed buyer for $1.4 billion (OGJ Online, Feb. 13, 2014).

Related Articles

BLM approves Noble’s eastern Nevada exploration drilling plans

06/12/2014 The US Bureau of Land Management approved Noble Energy Inc.’s plan to drill exploratory oil and gas wells in the Tabor Flats area about 4 miles nor...

WoodMac: NorAm oil output increases to outpace Middle East 4:1 by 2020

06/12/2014 By 2020, increases in North American oil production will outpace that of the Middle East by 4:1 on a per barrel basis, and by 2030, North American ...

US backs new MENA supply growth, official says

06/12/2014 The US recognizes there are many important oil and gas opportunities in the Middle East and North Africa (MENA), Persian Gulf, and Eastern Mediterr...

Noble, Consol to launch Marcellus midstream MLP

06/12/2014 Noble Energy Inc., Houston, and Consol Energy Inc., Pittsburgh, have submitted a confidential draft registration statement on Form S-1 to the US Se...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected