Following BP’s Virtual Prospect deal with IndigoPool, Unocal has chosen Petroleum Place to deploy a customized electronic data room as part of its “EnergyOpps” disposal effort. Carl Lothringer, joint venture manager of Unocal’s Gulf Region said, “Petroleum Place is enabling us to create our own customized, branded marketplace. We will now be able to expose our large inventory of quality upstream exploration and development opportunities to a wider range of qualified potential business partners. These prospective partners can be provided, through Petroleum Place, with the data and applications necessary to creatively and efficiently evaluate the opportunities.
Bread and butter
Assets such as primary term leases and producing properties that have become non-core to Unocal are very likely to be another operator’s bread and butter. EnergyOpps will allow us to efficiently advertise our opportunities to those operators.”
Petroleum Place CEO Gary Vickers added, “We are extremely pleased that Unocal has selected Petroleum Place as its online marketplace. We are committed to providing Unocal with services and technology to drive additional exploration activity.” EnergyOpps will leverage the established Petroleum Place acquisition and divestiture marketplace together with robust electronic data room technology.
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