W&T Offshore has agreed to sell its stake in a West Texas oil field to a private equity start-up company for $376 million, the latest oil deal geared toward supporting a seller’s financial books amid cheap oil prices.
ConocoPhillips is selling its stake in the enormous Kashagan offshore field in Kazakhstan in a $5 billion deal, the latest move to shrink and streamline its businesses, the corporation announced Monday.
BP’s Monday announcement of a $5.5 billion sale for several Gulf of Mexico properties has brought praise from analysts for the price commanded, as it moves closer to its target $38 billion asset divestment by the end of 2013.
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