Oryx Energy Co., Dallas, last week completed the purchase of most of the oil and gas properties it is obtaining from British Petroleum Co. plc for $1.1 billion.
With the complete transaction scheduled to add 264 million bbl of reserves, Oryx laid claim to title as the world's largest independent producer (OGJ, Oct. 23, 1989, p. 17).
Last week's closings covered Indonesian and most U.K. properties involved in the deal. Scheduled for closing later in this quarter are sales of the remaining U.K. properties, as well as those in Ecuador, Gabon, and Italy,
Oryx last week also agreed in two transactions to sell interests in 316 U.S. oil and gas fields for about $32 million. The leases produce about 2,700 b/d of oil and 11 MMcfd of gas from about 1% of the company's U.S. reserves.
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