BP Sells U.S. Midstream Assets to Sixth Street for $1.5 Billion to Cut Debt

BP has agreed to sell its U.S. midstream assets in the Permian and Eagle Ford basins to Sixth Street for $1.5 billion, aimed at reducing net debt.

• The transaction involves BP divesting interests in midstream assets operated by BPX in the Permian and Eagle Ford basins, strengthening its financial position.
• Approximately $1 billion will be paid to BP upon signing the agreement, with the remaining funds expected by the end of the year.
• This sale reflects BPs strategy to cut net debt as it continues to navigate financial pressures in the energy sector.