BP: buys Texas and Louisiana oil and gas assets from BHP
(CercleFinance.com) - BP on Friday said it has acquired a portfolio of unconventional US oil and gas assets from global miner BHP for a total price of 10.
5 billion dollars.
The move will allow BP to reposition its US onshore oil and gas business, adding production of 190,000 barrels of oil equivalent per day, about 45% of which is liquid hydrocarbons, and 4.6 billion barrels of oil equivalent resources, it said.
The main assets included in the acquisition are based in West Texas, South Texas, East Texas and Louisiana, BP said.
The transaction will be accretive to earnings and cash flow on a per-share basis, the group added.
BP has today announced a second quarter 2018 dividend of 10.25 cents per ordinary share, an increase of 2.5%.
The shares were down 2.1 per cent in London after these announcements.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
5 billion dollars.
The move will allow BP to reposition its US onshore oil and gas business, adding production of 190,000 barrels of oil equivalent per day, about 45% of which is liquid hydrocarbons, and 4.6 billion barrels of oil equivalent resources, it said.
The main assets included in the acquisition are based in West Texas, South Texas, East Texas and Louisiana, BP said.
The transaction will be accretive to earnings and cash flow on a per-share basis, the group added.
BP has today announced a second quarter 2018 dividend of 10.25 cents per ordinary share, an increase of 2.5%.
The shares were down 2.1 per cent in London after these announcements.
Copyright (c) 2018 CercleFinance.com. All rights reserved.