The $696m move comes about a month after London-listed oil and gas major BP discovered further oil prospects in the Gulf of Mexico.
BP Mining News
Industry leaders now appear to be positive that growth can be achieved after several difficult years.
A unit of British oil major BP PLC will acquire BHP's unit which holds the Eagle Ford, Haynesville and Permian assets for $10.5 billion.
The London-based oil major has made the highest offer for the assets, which BHP prefers selling in a single package.
BP’s latest Statistical Review of World Energy, released Wednesday, contains a chart that could leave environmentalists feeling somewhat flat.
The Sunrise Phase 1 oil sands project is expected to have initial capacity of 60,000 barrels per day.
The overall increase in energy consumption is still huge at 41%.
With the economy just as much a viable target as any, counter-terrorism may becoming more than just the military's game.
Jittery investors sold in earnest this week on speculation that China is going on some kind of austerity kick, destined no doubt to wreak havoc on the civilized world.