BP and Devon team up to develop oil sands play

Devon will acquire 50% of BP's interest in the Kirby oil sands leases, paying $500 million at closing and committing to fund an additional $150 million of capital costs on BP's behalf.

Devon will operate the Kirby project, which is close to its Jackfish steam-assisted gravity drainage (SAGD) project. Like Jackfish, Kirby is expected to be a multi-stage SAGD development.

“We are excited about the opportunity to work with a world-class organisation such as BP to leverage our SAGD expertise from De

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: