BPT have a lot on unconventional acreage (shale) that they were in JV with Chevron and Icon energy. They spent a lot of money on it but then abandoned it when the oil price collapsed. Some of those wells would be $20-30mil to complete v's the wells strike are looking at which are more likely in the ~$2.5-3.5mil.
It is a different "unconventional" completely.
I think you will find they have been wanting to divest of "some" of their unconventional ground for a long time now....it is nothing new. Good luck finding a buyer for that shale ground though. I haven't done the hard numbers but I would be thinking Gas prices would have to be $15-20 / GJ to even think about having a go at that. And the engineering issues proved to be a major issue too........melting well heads and other things. Very hot down at those depths (3-4kms deep).
IMO
a chat with management, page-42
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