BP gets extension on well seal, announces asset sales, stock drop 1.6%
Peter Oberois
Jul. 21, 2010

BP is planning a massive asset sales. it reached a $7 billion deal with Apache Corp, a large part of its planned sale of $10 billion in assets to pay for the worst oil spill in US history.

Apache would pay a $5 billion cash deposit on July 30 as part of the deal for exploration and production facilities in North America and Egypt. The company said the deal would include assets in New Mexico, natural gas in western Canada and concessions in Egypt.

BP also announced it would sell $1.7 billion worth of assets in Vietnam and Pakistan.

BP gets extension on well seal, announces asset sales, stock drop 1.6%
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