BP To Sell Off Older Gulf Of Mexico Wells

Law360, New York (April 12, 2012, 6:25 PM EDT) -- BP PLC will look for buyers for some of its more mature oil wells in the Gulf of Mexico, where it is the biggest oil producer, CEO Bob Dudley told shareholders on Thursday at the company's annual meeting.

As part of an effort to refocus operations on its strengths — among them combing unexplored subsea shelves for oil — Dudley said BP would unload older, steadily producing fields in the Gulf and the southern North Sea off the British coast. Dudley predicted $15 billion in additional...
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