Anadarko Buys BP Gas Plant as Sell-Off Continues

- March 23rd, 2011

NY Times reports that on Tuesday, BP agreed to sell its controlling stake in a Colorado natural gas plant to the Anadarko Petroleum Corporation for $575.5 million.

NY Times reports that on Tuesday, BP agreed to sell its controlling stake in a Colorado natural gas plant to the Anadarko Petroleum Corporation for $575.5 million.

The market news is quoted as saying:

Those divestitures have been planned to help BP meet the costs resulting from its catastrophic oil spill in the Gulf of Mexico last summer. However, the plant had been slated for sale since late 2009, a company spokesman said, since BP had ceased to process its own natural gas there.

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