Plains acquires deepwater GoM assets from BP for US$5.6 billion
Plains is to acquire a portfolio of BP assets in deepwater Gulf of Mexico for US$5.55 billion. The assets include interests in three BP-operated platforms that have been onstream since as early as 1999: Holstein, Horn Mountain and Marlin hub, which includes the Marlin, Dorado and King fields. The agreement also includes non-operated stakes in the Hoover/Diana and Ram Powell platforms and underlying fields. We value the position acquired by Plains at US$4.3 billion (NPV10, discounted to ...