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BP (BP +1.3%) surrenders its spot as the Gulf of Mexico's top crude oil producer to Shell...

  • Tuesday, February 5, 2:17 PM ET
    BP (BP +1.3%) surrenders its spot as the Gulf of Mexico's top crude oil producer to Shell (RDS.A); BP produced ~185,000 bbl/day in the Gulf's deep waters in 2012, down nearly a third Y/Y, while Shell produced ~191K bbl/day, a 4% drop. Among BP's $38B in asset sales since 2010 were Gulf fields valued at $5.6B, but it plans to bounce back with $4B/year in Gulf investments over the next decade.
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This news story has 4 comments:

  •  
    Is it not ironic that the top oil producers in the Gulf of Mexico are European companies?
    5 Feb, 04:52 PM Reply Like
  •  
    I am a long time shareholder and have profited trading BP as well. They should have played the spill the same way Exxon played the Valdez incident. I expect my shares to breach 65 in the next 4 years and dividends to return to the 6% range.
    5 Feb, 05:03 PM Reply Like
  •  
    But BP does not have US politicians in its pocket being a foreign company so it cannot play it like a US domestic player.
    5 Feb, 06:31 PM Reply Like
  •  
    BP is planning to sell all of its U.S. holdings/businesses to Shell.
    5 Feb, 07:58 PM Reply Like
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