Tuesday, July 6, 2010

BP (NYSE:BP) Bills Anadarko (NYSE:APC) for $272.2 Million

BP (NYSE:BP) has sent their partner in the Marcondo oil well, Anadarko (NYSE:APC), a bill for $272.2 Million, reflecting the 25 percent stake Anadarko has in the well.

This isn't the first time news has come out on this, as BP had reportedly sent them a bill some time ago. This is the first time I've seen a figure on how much the bill was, and it seems it was probably adjusted since the first bill BP sent them.

Their second partner in the well, Mitsui, was also billed by the company for $111 million for their 10 percent stake in the well.

"They are partners in the field, and as responsible partners we would expect them to bear some of the costs," BP spokeswoman Sheila Williams said Monday.

Evidently when BP sent Anadarko the first bill, Anadarko CEO Jim Hackett aggressively responding in the media, saying BP had made and taken "reckless decisions and actions" concerning the well.

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