BP Hits Brakes On Gulf of Mexico Mad Dog Expansion

Law360, New York (April 19, 2013, 1:31 PM EDT) -- Facing a less than favorable oil and gas market, BP PLC announced Friday that it, along with project partners BHP Billiton and Chevron Corp., will delay the next expansion phase of their Mad Dog play in the Gulf of Mexico.

BP and its partners are re-evaluating their plans and options on how to develop the deepwater project, according to a statement. The play is BP's largest greenfield development in the area and the company in December had said it expected to start construction by the end...
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