BP to Consider Selling $6 Billion in Assets

After it’s acquisition of BHP Billiton’s oil and natural gas assets in July, oil giant BP PLC is considering selling some of its wells in the United States.

According to Reuters, BP, based in England, purchased the assets of Australia’s BHP Billiton for $10.5 Billion in July.  Reports indicated BP could unload up to $6 billion in assets from its fields in Colorado, New Mexico, Texas, Oklahoma and Wyoming.  The organization wants to focus more on assets with higher returns and buy back some of its stock.

Related: Learn more about PetroChoice’s products and services for shale and natural gas

The acquisition was the company’s biggest since 1999, when they purchased Atlantic Richfield Co.

Posted on August 29, 2018 at 1:50 pm

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