bp has agreed to sell non-controlling interests in Permian and Eagle Ford midstream assets to Sixth Street-managed funds. The deal is worth $1.5 billion, with $1 billion paid upon signing and the rest expected by year-end. Following the transaction, bpx’s ownership in Permian assets will drop to 51% from 100%, and in Eagle Ford assets to 25% from 75%. bpx will continue to operate all assets.

Read more at Nasdaq: Bp Divests Non-controlling Interests In Permian, Eagle Ford Midstream Assets Of Bpx Energy