BP to acquire oil and gas fields from BHP Billiton for $10.5 billion

British oil and gas company BP intends to buy shale oil and gas fields owned by BHP Billiton, one of the world's largest mining companies, for $10.5 billion, Reuters reports. This deal will be the largest for BP in 20 years. Recently, it reported an increase in quarterly dividends, which has not happened for the last 4 years, and a reverse buy-out of shares worth $6 billion. BHP, in August last year, put up for sale a shale business, on which it spent 19 billion dollars of shareholder funds. BP expects that as a result of the deal its oil and gas resources in the US will increase by 57%, which will help increase its profitability and cash flow.

The information and recommendations contained in this analytical document are published strictly for information purposes and are not considered as an offer to buy or sell the trading tools mentioned above and are not intended to motivate to perform certain transactions
Something went wrong