Deals
BP-Apache Talks on Prudhoe Bay Stake Said to Stall
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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.
Talks between BP and Apache faltered late in the evening on July 16 before resuming Saturday. They hit a snag again early yesterday over issues ranging from the valuation of the deal to how current and future legal liabilities will be addressed, the person said.