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W&T Offshore Inc. Message Board

  • phoenix_investor phoenix_investor Aug 14, 2012 12:10 PM Flag

    Does this make WTI worth >$40/sh

    WTI produces about 50,000 boep, granted not all of it in the GOM.

    NEW YORK (TheStreet) -- As a way to repay billions in damages related to its 2010 Macondo oil spill, BP (BP_) is looking to sell $7.9 billion in Gulf of Mexico assets to buyers including Royal Dutch Shell(RDS.A_), ExxonMobil(XOM_) and Chevron(CVX_), according to a Bloomberg report citing unnamed sources.

    The British oil giant is reportedly looking to sell assets including its Horn Mountain, Holstein, Diana Hoover and Ram Powell oilfields, half of which are currently in production. BP, which has the largest deepwater presence in the Gulf of Mexico of any oil major, is to concentrate its regional presence around production hubs tied to its Thunder Horse, Atlantis, Mad Dog and Na Kika oilfields, some of the most successful finds in the Gulf. The assets reportedly being shopped hold 120 million barrels of oil in production reserves and already produce roughly 58,000 barrels a day.

3.7999-0.2301(-5.71%)2:27 PMEDT