BP Is Said to Near $6 Billion Sale of Gulf Assets to Plains

BP Plc is in advanced talks to sell a group of oilfields in the Gulf of Mexico to Plains Exploration & Production Co., said two people with knowledge of the matter.

Plains is discussing a price of about $6 billion and may reach an agreement within days, said one of the people, who spoke on the condition of anonymity because the talks are private. The market capitalization of Houston-based Plains is about $5.2 billion and net debt was $3.05 billion as of June 30, according to data compiled by Bloomberg.