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Wasatch Energy LLC sells to BP America
Salt Lake City, April 2, 2007 -- Wasatch Energy LLC today announced it has completed the sale of all of Wasatch's natural gas business and assets including its commercial and industrial sales contracts and producer services contracts to BP Energy Company. The sale includes the transfer of employees. Wasatch Energy's portfolio includes 350,000 MMBtu/d of gas purchase, transportation and sales activity across ten Western states serving approximately 500 commercial and industrial customers and 100 producers. The majority of its 42 employees reside in Salt Lake City and a small number work from satellite offices throughout its operating area.. "We have a strong team of professionals who have built a portfolio from wellhead to burner tip 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." "The Wasatch team has been successful in managing the business requirements for a significant portfolio of core customers, while developing an excellent reputation for how they provide this service," said Orlando Alvarez, BP's Senior Vice President for the Western U.S.'s Gas Marketing group. "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." Wasatch Energy is a fully integrated energy marketing and trading company. Its corporate headquarters are located in North Salt Lake, Utah nestled at the foot of the Wasatch mountain range. BP is one of the world's largest energy companies serving about 13 million customers every day in more than 100 countries across six continents. BP's business is in exploration and production; refining and marketing, and gas, power and renewables including its Alternative Energy business announced last year. Through these business segments, BP provides fuel for transportation, energy for heat and light, retail services and petrochemical products. BP Energy Company is one of the leading natural gas and power marketing entities in North America, and is a leader in providing physical natural gas and power supply and risk management products to its customers across North America. Media enquiries: Mark Smoot, President |