One-Page Deal Sheet
BP Sells GOM Assets to Plains Exploration
Plains Exploration & Production Company BP Plc
Announced Date
September 10,2012
Effective Date
October 01,2012
Close Date
November 29,2012
Transaction Type
Property
Enterprise Value (EV)($MM)
5550
Asset/Basin:
{"US Gulf of Mexico Deepwater"}
Transaction Details: Subscribe to see
BP today announced it has agreed to sell its interests in a number of oil and gas fields in the deepwater US Gulf of Mexico to Plains Exploration and Production Company (‘Plains’) for a total of $5.55 billion, as part of a previously-announced plan to divest the assets and position its Gulf portfolio for long-term growth.
BP is selling its interests in three BP-operated assets: the Marlin hub, comprised of the Marlin, Dorado and King fields (BP working interest 100 per cent); Horn Mountain (BP, 100 per cent) and Holstein (BP, 50 per cent). The deal also includes BP’s stake in two non-operated…
BP is selling its interests in three BP-operated assets: the Marlin hub, comprised of the Marlin, Dorado and King fields (BP working interest 100 per cent); Horn Mountain (BP, 100 per cent) and Holstein (BP, 50 per cent). The deal also includes BP’s stake in two non-operated…
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