Oil firm BP PLC (NYSE:BP) is selling out two gas processing facilities in Texas to Eagle Rock Energy Partners.
BP reported on Monday that Eagle Rock Energy Partners is giving $227.5 million in cash for the Sunray and Hemphill gas processing facilities in Texas. The facilities have a united capacity of 220 million cubic feet of gas each day and a combined system of almost 2,500 miles (4,000 km) of pipelines.
Houston-located Eagle Rock Partners stated that the agreement comprises of a 20-year deal to process BP’s natural gas production from the previous wells associated to the two facilities.
Its competitors include Chevron Corporation (NYSE:CVX) whose number of outstanding shares remained 1.96 billion having insider ownership of 0.01% and Exxon Mobil Corporation (NYSE:XOM) having outstanding shares 4.62 billion with insider ownership of 0.02%.
Other Basic Materials stocks include Kinder Morgan Inc (NYSE:KMI) with insider ownership of 15.24%, Alpha Natural Resources, Inc. (NYSE:ANR) insider ownership remained 0.72%, ATP Oil & Gas Corporation (NASDAQ:ATPG) insider ownership stayed 13.61%, Alcoa Inc. (NYSE:AA) having insider ownership of 0.01%, Chesapeake Energy Corporation (NYSE:CHK) with 1.16% insider ownership and Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) possessing 0.47% insider ownership.
BP plc (ADR) (NYSE:BP) stock’s trade at beginning with a price of $42.17 and the current trading session climbed at a high of $42.36 other than the stock finally declined 0.66% to $42.12.
Shares price of BP moved up from its 20 days moving average with +4.10% and remote positively from 50 days moving average with +7.68%. BP current year earnings per share experienced an addition with 777.99% while its current quarter performance remained 8.16%.
BP last month stock price volatility remained 1.46%. In its share capital BP has 3.17 Billion outstanding shares among them 2.86 Billion shares have been floated in market exchange. BP stock institutional ownership remained 12.20%.
The stock is ahead its 52 week low with 31.73% and lagging behind from its 52 week high price with -10.23%. Company’s beta coefficient included 1.26. Beta factors measures the amount of market risk associated with market trade.
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