BP takes $7 billion in Devon assets

BP and Devon Energy Corp have signed a $7 billion agreement whereby BP will acquire all of Devon’s deepwater Gulf of Mexico, Brazil, and Azerbaijan assets.

BP takes $7 billion in Devon assets

Offshore staff

OKLAHOMA CITY, Oklahoma – BP and Devon Energy Corp have signed a $7 billion agreement whereby BP will acquire all of Devon’s deepwater Gulf of Mexico, Brazil, and Azerbaijan assets. BP also will take Devon’s leases for the Seadrill West Sirius and Transocean Deepwater Discovery drilling rigs.

Devon says the closings on various properties will be at different times, but should be completed by year-end, pending the closing conditions and regulatory approvals.

03/11/2010

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