BP sells some Gulf of Mexico assets for $5.55 billion

BP sells some Gulf of Mexico assets for $5.55 billion

THE ASSOCIATED PRESS
Published Sep 10, 2012 09:50AM MDT
London • Oil company BP said Monday it is selling some deep-water assets in the Gulf Mexico to Plains Exploration & Production Co. for $5.55 billion, a big step in the BP’s drive to cover the cost of its oil well blowout in the Gulf two years ago and concentrate investment elsewhere. BP is selling its interests in three of the assets it operates: the Marlin hub, Horn Mountain and Holstein. The deal also includes BP’s stakes in two non-operated assets, Ram Powell and Diana Hoover. Plains is also ...
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