BP Considers Acquiring BHP Billiton Energy Assets -Bloomberg

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Oil company BP PLC, working with Morgan Stanley, is considering an acquisition of some of BHP Billiton Ltd.’s energy assets, Bloomberg reports, citing unnamed sources.

BHP is selling 800,000 net acres in the Eagle Ford, Permian, Haynseville and Fayetteville Basins it has said are worth at least $10 billion. It is preparing to sell those assets in up to seven packages, including three in highly-prized Permian, people familiar with the matter said this month. It’s not clear which of those assets BP wants to buy.

Data rooms are open and bids are due by June, the Melbourne, Australia-based mining company said last month. It could announce one or more transactions by the end of December. BHP said it’s also evaluating asset swaps, an initial public offering or potentially spinning off the division.

Read Full Story at Bloomberg: https://bloom.bg/2rpB1tw

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