BP divests a portion of its U.S. midstream assets to Sixth Street for $1.5 billion

Written by Emily J. Thompson, Senior Investment Analyst

Source: Yahoo Finance

Updated: Nov 03 2025

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Source: Yahoo Finance

Transaction Overview: BP has agreed to sell non-controlling interests in its US onshore midstream assets to Sixth Street for $1.5 billion, involving pipelines and facilities in the Eagle Ford and Permian basins.
Ownership Changes: Post-transaction, BP's ownership in Permian midstream assets will decrease to 51% from 100%, and its stake in Eagle Ford will reduce to 25% from 75%, while maintaining operatorship and control.
Financial Impact: The deal is part of BP's strategy to achieve $20 billion in divestments by 2027 and is expected to increase non-controlling interest on BP’s balance sheet, impacting income by $100-$200 million annually.
Advisory Support: Morgan Stanley & Co. LLC is the financial adviser for BP, with Hunton Andrews Kurth LLP serving as the lead legal adviser for the transaction.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.