BP America Production Company announced today that it has agreed to sell its 93 per cent interest in the Wattenberg, Colorado natural gas processing plant to a wholly-owned subsidiary of Anadarko Petroleum Corporation for $575.5 million in cash, subject to closing adjustments.
The Wattenberg Plant, located in Adams County in northeast Colorado, has the capacity to process approximately 195 million cubic feet per day of natural gas and 15,000 barrels per day of natural gas liquids and gas condensate.
The plant processes natural gas from the Denver Julesburg Basin, an area where BP no longer has equity gas production.
The transaction is expected to close by mid-year, subject to regulatory approvals.
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BP is one of the world’s largest oil, gas and petrochemicals groups, generating revenues of around $300 billion in 2010. BP employs about 79,700 people worldwide and has activities in more than 80 countries.