The acquisition sees Fieldwood Energy, backed by Lord Browne's private equity firm Riverstone Holdings, take over the biggest set of oil and gas field in the shallower section of the Gulf.
The assets, which it is buying from US firm Apache, cover 1.9m net acres and 500 blocks, with estimated proved reserves of 133m barrels of oil and 636bn cubic feet of gas.
Fieldwood will also assume $1.5bn in estimated future costs related to plugging and abandoning old oil and gas wells, Apache said.
Lord Browne ran BP from 1995 to 2007, overseeing a period of major expansion including building a big position in the Gulf, especially in deep water.
He was succeeded by Tony Hayward, who lost his job after the 2010 explosion aboard BP's Deepwater Horizon rig in the Gulf, which killed 11 men and unleashed millions of barrels of oil into the Gulf.
Accounts of the long-term causes of the disaster were critical of the culture of safety at BP built up under both Mr Hayward and Lord Browne before him.
BP remains mired in litigation over the disaster.
Lord Browne's Riverstone's other high profile investments include backing fracking firm Cuadrilla and North Sea explorer Fairfield Energy. It also invests in renewable energy.
what is autism the giver march 30 rimm pauly d project adrienne rich autism
No comments:
Post a Comment