Analysts say BP (BP +0.5%) got a good price for the Gulf oil fields it sold to Plains...

|About: BP p.l.c. (BP)|By:, SA News Editor

Analysts say BP (BP +0.5%) got a good price for the Gulf oil fields it sold to Plains Exploration (PXP -8.3%) for $5.5B. "Significantly higher" than expected, says RBC, which had valued the assets at ~$2.2B. “A reduced and more focused exposure to the Gulf of Mexico is welcome for BP" amid escalated U.S. government pursuit of Macondo gross negligence charges, Tudor Pickering adds.