MARKET TALK: BP Got A Commercial Price From Apache Sale -ING

21st Jul 2010 07:57

0657 GMT [Dow Jones] BP (BP) got a good commercial price for the $7 billion in assets it agreed to sell to Apache (APA) Tuesday, says ING analyst Jason Kenney. "Based on the book value it looks like a positive divestment," with a price of $19.44 a barrel for proved reserves. "I don't see this asset sale process as a fire sale...it's a good opportunity for BP to offload some peripheral businesses," he says. BP shares closed Tuesday at 387p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 21, 2010 02:57 ET (06:57 GMT)