BP Energy Co.'s ability to market natural gas in the western United States has improved with the completion of its acquisition of Salt Lake City-based marketer Wasatch Energy LLC. The acquisition was announced in December (see Daily GPI, Dec. 22, 2006).
The deal, for an undisclosed amount, gives BP Energy all of Wasatch's natural gas business and assets, including commercial and industrial sales contracts and producer services contracts. Wasatch's 42 employees also were offered the opportunity to transfer to BP Energy. Wasatch has a portfolio of 350,000 MMBtu/d of gas purchase, transportation and sales activity across 10 western states that serve about 500 commercial and industrial customers and 100 producers.
"We have a strong team of professionals who have built a portfolio from wellhead to burnertip that is poised for growth in this region," said Wasatch President Mark Smoot. "We are excited by the opportunity to become part of BP's North American gas and power business, where we can further expand our product offering to our customers."
BP's Orlando Alvarez, senior vice president for the western U.S. gas marketing group, said, "Bringing Wasatch into BP's organization will help us grow the producer services effort in the West, as well as provide a platform from which to continue growing the commercial and industrial business in the region."
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