News listings

energy-pedia general news

USA flagUSA

South America / GoM >>> USA

US: BP launches $3 billion sale of U.S. onshore assets to fund BHP deal


20 Dec 2018

Photo - see caption

BP has launched the sale of U.S. oil and gas onshore assets that could raise more than $3 billion to help pay for other fields in the United States it bought in October from BHP, industry and banking sources said.

The sale proceeds will partly fund the $10.5 billion acquisition of BHP’s onshore assets that are mostly around oil-producing fields in Texas and Louisiana. BP had said it would sell $5 billion to $6 billion to finance the deal.

The London-listed firm wants to focus on production from its holdings in the Permian and Eagle Ford basins to match rivals Exxon Mobil and Chevron whose production there is set to rise sharply in coming years.

BP’s onshore business, which it has rebranded as BPX, sent out information packages last week on the assets it was selling and its representatives held a meeting in New York with the management teams of potential buyers, the sources said.

Click here for full Reuters article

Source: Reuters





Bookmark and Share


A global information service for upstream oil and gas opportunities - divestitures, farmins and farmouts and licensing rounds.


Subscriber Only Deals

Current Deals

Current Upstream Deals: 277

Completed Deals

Completed Upstream Deals: 6459

Company Profiles

Current Company Profiles: 2886

Corporate Activity

Current Corporate Activity articles: 4038

Companies Looking

Current number of articles: 463

Company Sales

Current Company Sales articles:1622

Geostudies

Current Geostudies articles: 920

How to subscribe

energy-pedia Jobs

RSS Feed Widget
See all jobs...


energy-pedia Databank

The energy-pedia databank contains links to information on the world financial and energy markets, including share prices, oil and gas prices and the global stock exchanges. Read more...



energy-pedia Glossary

A list of commonly used terms in the oil and gas industry. Read more...

Subscribe

Subscribe to the FREE
energy-pedia Daily Newsletter
Subscribe

energy365
Union Jack Oil 149
Borchwix
Syntillica
Telos NRG
Bayphase
Government of South Australia
Rose & Assocs 180
Merlin
OPC
About energy-pedia

energy-pedia news is a FREE news service written and edited by E and P professionals for E and P professionals.

We don't just report the news, we give you the technical background as well, with additional information derived from our unique energy-pedia opportunities service.
Contact us

energy365 Ltd

238 High Street
London Colney
St Albans
UNITED KINGDOM

Tel: +44(0)1727 822675

Email: info@energy-pedia.com