Uploaded by FinancialNewsOnline on Mar 27, 2012
BP (NYSE:BP) announced Tuesday plans to sell southern gas assets in the North Sea to Perenco U.K. for $400 million.
The company already made a down payment of $100 million and plans to rest of the balance on completion of the deal later in the year.
Trevor Garlick, head of BP's North Sea unit said, "Perenco is committed to investing in and developing southern gas assets beyond BP's plans, ultimately providing a longer-term future for the assets and the people who work there. Actively managing our portfolio allows us to concentrate our people, capabilities and investment on sustaining BP's business in the North Sea for the long term."
BP (NYSE:BP) has potential upside of 16.9% based on a current price of $46.23 and an average consensus analyst price target of $54.05.
The company already made a down payment of $100 million and plans to rest of the balance on completion of the deal later in the year.
Trevor Garlick, head of BP's North Sea unit said, "Perenco is committed to investing in and developing southern gas assets beyond BP's plans, ultimately providing a longer-term future for the assets and the people who work there. Actively managing our portfolio allows us to concentrate our people, capabilities and investment on sustaining BP's business in the North Sea for the long term."
BP (NYSE:BP) has potential upside of 16.9% based on a current price of $46.23 and an average consensus analyst price target of $54.05.
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| BP.L | 16:35 BST | 471.35 |  10.55 - 2.19% |
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