Wednesday, July 21, 2010

BP (NYSE:BP) Gets Offer for Assets in Wyoming

BP (NYSE:BP) said they're in the midst of negotiating a sale of some of the assets they hold in Wyoming, but it's not connected in any way to the asset sales they're participating in to raise $10 billion for Gulf liabilities.

Chad Calvert, BP's director of government and public affairs in the Rocky Mountains, said they received a bid on the assets in June, one initiated by the other interested party, which they refuse to identify at this time.

Among the assets being considered are the Whitney Canyon Inlet gas hub, Whitney Canyon natural gas field and the Painter natural gas plant.

Not included are the Wamsutter operations, which is the largest onshore natural gas field held by BP, or the Moxa Arch facility.

Calvert said BP will normally sell about $5 billion of declining assets on an annual basis.

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