BP in $1bn US assets sale

Bob Dudley, CEO BP at WPC 2011 in Doha

BP pockets more: Bob Dudley-led oil giant sells assets in US

Kaia Means/Upstream

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Eoin O'Cinneide

 25 June 2012 13:10 GMT

BP has continued its assets sale drive with the divestment of a pair of upstream operations in the US to Linn Energy.

Nasdaq-listed Linn is stumping up $1.025 billion in an all-cash deal for the British supermajor's interests in the Jonah and Pinedale plays in the Green River basin, Wyoming.

The sale includes around 260 operated wells with recent net gas production to BP of 80 million cubic feet equivalent per day. There are also non-operated wells with almost the same net amount to BP.

"BP’s upstream production operations in Moxa and Wamsutter, Wyoming, are unaffected by the sale," the oil giant said.

BP has been aggressively selling off assets in the wake of the April…

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