NEW YORK — BP PLC, the company battling a 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 plan to raise cash to fund liabilities....
Apache, the largest US oil company by market value among companies that don’t own refineries or chemical plants, said it will finance the acquisitions with debt and equity securities as well as cash on hand....
Over the past few weeks, talks between BP and Apache centered on a sale of part of BP’s stake in Alaska’s Prudhoe Bay field, along with the other assets, said three people familiar with the matter.
Related: BP By the Bay
But talks over the Prudhoe Bay stake fell apart, these people said.--more--"
Also see: BP's Bucket of Oil
BP's Payout Pump Broken
BP Partners Won't Pay For Gulf Gusher
