Hilcorp Energy completed has its acquisition of BPâs midstream pipeline ownership interests Dec. 18 following approval by the Regulatory Commission of Alaska, the company said
Harvest Alaska, Hilcorpâs midstream subsidiary, now owns BPâs approximately 49 percent interest in the Trans-Alaska Pipeline System (TAPS) and 49 percent of Alyeska Service Company (Alyeska) along with other Alaska midstream interests. Alyeska will continue to operate the pipeline.
âThe completion of this acquisition is a critical milestone for Harvest,â said Jason Rebrook, Chief Executive Officer of Harvest Midstream, in a statement issued by the company. âTAPS is an icon of American ingenuity and has a proven track record of safe and responsible operations with strong relationships in the communities it touches.â
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(Reuters) - Privately held Hilcorp Energy Co said on Friday its unit completed a $5.6 billion acquisition of BP Plc s business in Alaska, taking over the region the British oil major had operated in for 60 years.
Hilcorp s Harvest Alaska, a midstream services provider, said it received approval from the Regulatory Commission of Alaska on Dec. 14 to acquire BP s nearly 49% interest in the Trans-Alaska Pipeline System (TAPS) and 49% of Alyeska Service Company and other Alaska midstream interests.
The 800-mile TAPS is one of the largest pipelines in the world and transports oil from the North Slope to the northern most ice-free port in Valdez, Alaska.
Posted on 20100
Harvest Alaska (Harvest), completed its acquisition of BP Pipelines (Alaska) Inc.’s (BP) midstream ownership interests today, following approval by the Regulatory Commission of Alaska on December 14
th. Harvest immediately acquires BP’s approximately 49 percent interest in the Trans-Alaska Pipeline System (TAPS) and 49 percent of Alyeska Service Company (Alyeska) and other Alaska midstream interests. Alyeska will continue to operate the pipeline as it has for decades.
“The completion of this acquisition is a critical milestone for Harvest,” said Jason Rebrook, Chief Executive Officer of Harvest Midstream. “TAPS is an icon of American ingenuity and has a proven track record of safe and responsible operations with strong relationships in the communities it touches. We are committed to positively building upon this great legacy and we look forward to partnering with Alyeska, other TAPS owners, an
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Privately held Hilcorp Energy Co. said on Dec. 18 its unit completed a $5.6 billion acquisition of BP Plc s business in Alaska, taking over the region the British oil major had operated in for 60 years.
Hilcorp s Harvest Alaska, a midstream services provider, said it received approval from the Regulatory Commission of Alaska on Dec. 14 to acquire BP s nearly 49% interest in the Trans-Alaska Pipeline System (TAPS) and 49% of Alyeska Service Company and other Alaska midstream interests.
The 800-mile TAPS is one of the largest pipelines in the world and transports oil from the North Slope to the northern most ice-free port in Valdez, Alaska.
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