BP Sell Gulf of Mexico Oil Fields for $5.55 Billion
Following
the Macondo Well oil spill in 2010 BP set itself the target of raising
$38 billion in cash through divestitures before the end of 2013, they
have just announced the sale of some of their Gulf of Mexico oil fields
to Plains Exploration & Production Co. for $5.55 billion. The
purchase includes the Marlin, Dorado, King, and Horn Mountain fields, as
well as part stakes in various other fields owned by Exxon Mobil and
Shell. Plains purchased BP’s 50% stake in the Holstein field, and in a
separate deal the other…Read more...http://oilprice.com/Latest-Energy-News/World-News/BP-Sell-Gulf-of-Mexico-Oil-Fields-for-5.55-Billion.html
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