BP Unloads $400 Million In North Sea Gas Fields

Rhum, Bruce and Keith fields divested
BP (ticker: BP) announced the sale of several fields to Serica Energy (ticker: SQZ) today, in a deal worth around $400 million.

BP will sell its shares of the Bruce, Keith and Rhum fields in the North Sea. Serica will receive a 36% interest in Bruce, a 34.83% interest in Keith and a 50% interest in Rhum, will become operator of the assets and will acquire about 110 BP staff.

The acquired fields produced a net 18.5 MBOEPD in the first half of 2017, with about 50 MMBOE of net 2P reserves. The Bruce and...