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BP confirms it has agreed to sell its interests in three BP-operated assets and two non-operated...

BP confirms it has agreed to sell its interests in three BP-operated assets and two non-operated assets in the deepwater Gulf of Mexico to Plains Exploration and Production (PXP) for $5.55B. Not giving up on the Gulf, BP says it anticipates investing on average at least $4B in the region each year for the next decade. PXP, which likely would take on debt to pay for the deal, -4.5% premarket.
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Comments (2)
  • dvmpet
    , contributor
    Comment (1) | Send Message
     
    Why sell your interests in these assets and at the same time invest $4B each year for a decade?
    10 Sep 2012, 10:20 AM Reply Like
  • gdonelson
    , contributor
    Comments (36) | Send Message
     
    PXP taking on debt..really!!! With a market cap well below the cost of the assets purchased from BP what else are they going to do unless they are printing their own script?
    10 Sep 2012, 11:22 AM Reply Like
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