Alaska Supreme Court gives city of Valdez partial win in effort to unlock Hilcorp financial secrets [Yahoo! Finance]
BP p.l.c. (BP)
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Source: Yahoo! Finance
company Hilcorp was allowed to keep secret when it acquired BP's Alaska assets for $5.6 billion in 2020. The 30-page unanimous decision will allow the Southcentral Alaska city to take up arguments in state Superior Court in its quest to have that financial data released. The city seeks the disclosure in an effort to ensure that the Houston, Texas-based oil company, operator of Alaska's largest oil field, has the financial wherewithal to, for example, clean up a major oil spill should one occur. Valdez is located at the end of the trans-Alaska pipeline, where massive amounts oil are placed into giant tanks and oceangoing ships take on crude oil for shipment to refineries. The city is located near the site of the 1989 Exxon Valdez oil spill. Hilcorp's financial information is "highly relevant to Valdez's ability to assess and comment on Harvest Alaska's fitness to operate" the trans-Alaska pipeline system, the court said. Valdez lost on a second matter, an effort to force a pu
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BP
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BP
Sec Filings
- 5/17/24 - Form 6-K
- 5/16/24 - Form FWP
- 5/9/24 - Form 13F-HR
- BP's page on the SEC website