BP (BP) is mulling the sale of minority stakes in two projects located in the US Gulf waters as it navigates a strategy reset, Reuters reported Thursday, citing sources with knowledge of the matter.
The sources told Reuters that BP could bring in partners in its Kaksida and Tiber projects in the Gulf of Mexico, which the US government recognizes as Gulf of America, and offload up to a 50% stake in each.
One of the sources said early-stage deliberations could be followed by a formal auction later this year, but a deal isn't guaranteed, according to the media outlet.
An industry executive told Reuters that energy giants and operators in the Gulf of Mexico could be potential buyers of the stakes.
BP didn't immediately respond to a comment request from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Price: 34.36, Change: +0.07, Percent Change: +0.20
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.