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Commodities Briefing - Categorized | Oil, Trends more

Why big oil is shifting away from the Gulf of Mexico

Posted on 23 July 2013

A BP official who led the company before the 2010 incident in the Gulf of Mexico marked his return to the region in a $3.75 billion deal with Houston-based Apache. Apache seemingly said goodbye to the Gulf of Mexico in the deal, opting instead to focus its efforts onshore.
Former BP Chief Executive John Browne helped nab 1.9 million net acres in the agreement with Apache last week. Apache’s “good run” in the Gulf of Mexico may suggest assets onshore may hold more long-term value for explorers………………………………………..Full Article: Source


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