1 Feb 2014 More

Brightoil Makes $1.08 Billion Purchase of Oil and Gas Assets

posted by Unknown @ 14:36 0 Comments

Image of oil rig - Brightoil Petroleum Holdings
Brightoil Petroleum Holdings announces that it will purchase the oil and gas assets of the Anadarko Petroleum Corp. for $1.08 billion, this according to Bloomberg.  The acquisition will be in cash to purchase two offshore blocks which have a rate of 32,000 bbl/d.

The deal will give Brightoil a 40 percent stake in block 04/36, which encompasses 124 square kilometers, and block 05/36, which spans 88 square kilometers.

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