Monday, 16 August 2010

BP sold assets to pay more clean-up changes

Maritime News
August 16, 2010 19:25
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BP sold assets to pay more clean-up changes

Texas oil company Apache Corp. said it completed the acquisition of Texas and New Mexico operations from BP as the British company faces a $167.9 million bill

Apache in July said it acquired assets in Texas, New Mexico and Egypt
from BP. The company said it was also taking most of BP’s upstream gas
business in a $7 billion deal that includes 385 million barrels of oil
equivalent.

The company announced that it completed the acquisition of assets in
western Texas and New Mexico, paying $3.1 billion to BP for 10 fields
that hold an estimated 141 million barrels of oil equivalent.

BP has sold off many of its world assets in order to pay damages from
the massive oil spill in the Gulf of Mexico.

The White House announced that it sent BP and “other responsible
parties” a $167.9 million bill to pay for response and recovery
operations along the southern U.S. Gulf Coast.

BP was found liable for the April sinking of the Deepwater Horizon oil
platform in the Gulf of Mexico that caused the worst accidental oil
spill in world history.

The $167.9 million bill is the fifth sent for recovery operations in the
gulf.

Source: UPI

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