BP agrees to sell assets to Apache for $7 billion
BP Plc, the UK company battling aa record oil spill in the Gulf of Mexico, agreed to sell assets in North America and Egypt to Apache Corp. for $7 billion as part of its plans to raise cash to fund its liabilities.
Apache Corp. said it has arranged a $350 million financing for the company's Van Gogh and Pyrenees oil developments offshore Western Australia.