Reuters


Miner BHP Group BHP.AX sold its 35% stake in Neptune field in Gulf of Mexico to EnVen Energy Corp ENVN.N for an undisclosed sum, making the independent oil and gas company one of the largest operators of a major offshore platform.

BHP divests oilfield stake in Gulf of Mexico for undisclosed sum- oil and gas 360

Source: Reuters

EnVen already owned a 30% stake in Neptune field, located in the deepwater, central Gulf of Mexico and operated by BHP. The field is also co-owned by energy companies W&T Energy VI and 31 Offshore.

Houston-based EnVen did not respond to Reuters’ request for comment.

The company in 2016 purchased Royal Dutch Shell’s RDSa.L Brutus and Glider oilfield assets in the U.S. Gulf of Mexico for $425 million.

BHP did not disclose the financial terms of the deal, executed as an asset sale, except that EnVen had agreed to cover abandonment liabilities.

BHP said on Friday it will continue to operate Neptune as part of the transition agreement, until transfer of ownership is approved by the regulator.


Legal Notice