BP Weighs Up to $5 Billion Acquisition to Expand US Shale Business
JH Kim
Summary
- British energy company BP is considering acquiring assets worth $2 billion to $5 billion to expand its U.S. shale business, according to a report.
- BP is reviewing the acquisition of U.S. shale assets with a high proportion of crude oil production, as well as Devon Energy's Eagle Ford shale assets.
- If the acquisition is completed, BP's U.S. onshore crude production business would expand.
Forecast Trend Report by Period
BP is considering an acquisition worth $2 billion to $5 billion as it seeks to expand its U.S. shale business, according to a report.
Walter Bloomberg reported on September 24 that BP is exploring potential acquisitions of U.S. shale assets with a high proportion of crude oil production.
BP is also reviewing a possible bid for Eagle Ford shale assets owned by Devon Energy.
If completed, the acquisition would expand BP's U.S. onshore crude production business.
JH Kim
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