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BP, Kerr-McGee Swapped Oil&Gas Assets

Kerr-McGee Oil & Gas Corp. swapped oil and gas properties assets with international oil and gas giant British Petroleum

BP, Kerr-McGee Swapped Oil&Gas Assets

U.S. company Kerr-McGee Corp. said its affiliate, Kerr-McGee Oil & Gas Corp., swapped assets related to oil and gas properties with international oil and gas giant British Petroleum..

Kerr-McGee Oil & Gas will acquire BP's 37.4% interest in the Blind Faith discovery in the Gulf of Mexico. Besides, Kerr-McGree will provide additional cash payment in exchange for interests in various oil and gas assets in the Arkoma basin in Southeast Oklahoma.

Financial terms of the deal were not disclosed.

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