BP Plc To Sell Jonah Gas Operations In Wyoming, U.S.

BP Plc announced that it has agreed to sell its interests in the Jonah and Pinedale upstream operations in Wyoming to Linn Energy, LLC. Under the agreement, Linn Energy has agreed to pay BP $1.025 billion in cash for the assets. The sale is expected to complete by July 31, 2012. The agreement to sell the Jonah assets brings the total value of divestments that BP has agreed since the start of 2010 to around $24 billion. BP expects this total to increase to $38 billion by the end of 2013. Under the agreement BP is selling its operations center in Sublette County, Wyoming, and all of its working interest in approximately 260 operated wells with recent net BP natural gas production of 80 million standard cubic feet equivalent of gas a day (mmscfe/d)], and non-operated wells with recent net BP production of 66 mmscfe/d. BP's upstream production operations in Moxa and Wamsutter, Wyoming, are unaffected by the sale.