In late November 2019, BHP completed its sale of 50% in Green Canyon Block GC 432 to Ridgewood subsidiary Ridgewood Institutional III Prospective Leases. BHP had previously indicated in late August 2019 that it had entered into an agreement to sell its 50% non-operated stake in the block, site of the Samurai discovery, to an as-of-then unnamed buyer. A BHP spokeswoman said at the time: "Having now fully assessed the results of the successful Samurai 2 (G32504 2) well we have concluded there was no connection between our Wildling prospect and that of Samurai. Hence, while oil has been discovered in Samurai, it is not of a scale that is material to BHP nor is it of the scale likely to compete for capital under our capital allocation framework...as a result, BHP intends to sell its interest in Samurai and will largely recover the funds it deployed to acquire and drill the Samurai prospect." Following completion of the transaction, equity in GC 432 is now split between Murphy Exploration & Production Co - USA (50% WI + Op) and Ridgewood Institutional III Prospective Leases (50%).
BHP completed its sale of 50% in Green Canyon Block GC 432 to Ridgewood subsidiary Ridgewood Institutional III Prospective Leases.