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Plains Exploration to Buy BP, Shell Fields for $6.1 Billion

Plains Exploration & Production Co. agreed to buy BP Plc’s and Royal Dutch Shell Plc’s stakes in a group of Gulf of Mexico oil fields for $6.1 billion, doubling crude production in its biggest acquisition since 2007.

BP, which has been selling assets after causing the worst marine oil spill in U.S. history, sold its fields for $5.55 billion. Shell sold its stake in a field co-owned with BP for $560 million, according to a statement today.