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BP to Sell-Off Texas Panhandle Assets Print E-mail
by Tom McGregor    Tue, Apr 15, 2014, 09:05 PM

Oil giant, British Petroleum is continuing to dump its assets held in the Untied States.

According to the Houston Chronicle, "BP is taking bids on its rights to about 280,000 gross acres of natural gas-rich properties in the Texas Panhandle, a spokesman said late Tuesday."

BP struggles to overcome its disastrous public relations blunders after an offshore oil well spilled millions of gallons of oil near the Louisiana Coast in the Gulf of Mexico.

As reported by the Houston Chronicle, "The British oil company, which is planning to sell off $10 billion in assets over the next two years, produces about 4,000 barrels of oil equivalent per day in Sherman County and Moore County, about 650 miles northwest of Houston, BP spokesman Brett Clanton said Tuesday."

BP is hoping to sell its Texas Panhandle assets for $400-500 million.

To read the entire article from the Houston Chronicle, link here:

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