ConocoPhillips announced this week it’s concluded its sale of a subsidiary that holds a 16.5 percent interest in the BP-operated Clair Field off the coast of Scotland. And it finished the purchase of an operation in Alaska.
The sale to BP was for an undisclosed price and still leaves ConocoPhillips with a 7.5 percent interest in the field.
The Houston-based company also said it has completed a simultaneous acquisition of BP’s 39.2 percent interest n the Greater Kuparuk Area in Alaska and 38 percent interest in the Kuparuk Transportation company. ConocoPhillips did not disclose the price of the two acquisitions.
But it said excluding customary adjustments, the transaction prices were cash neutral to both companies. The Kuparuk acquisition involved production totaling 39,000 barrels of oil equivalent a day. The production from the field off the coast of Scotland was 4 MBOED.