BP Plc’s talks to sell half its stake in Alaska’s Prudhoe Bay oil field to Apache Corp. stalled twice over the weekend, raising doubts about whether the deal will be completed, said a person with knowledge of the matter.
BP Plc may reach an agreement as soon as next week to sell assets including half its stake in Alaska’s Prudhoe Bay field to Apache Corp . for $10 billion to $11 billion, according to two people familiar with the matter.
BP Plc , the U.K. 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.
The trial that will determine the extent of any liability London-based BP Plc and its partners must face for the April 2010 Gulf of Mexico oil spill is set to begin today in federal court in New Orleans.