BP-Apache Deal: Prudhoe Bay Was Too Complex

From the Wall Street Journal Blog: (LINK).

The BP- Apache deal is a no-go. Alaska Gas Pipeline effect: Assuming the TransCanada / ExxonMobil project and the Denali project merge BP will still be a player. A cash strapped, weakend player but in the game all the same.

The upside: BP's current unfortunate situation may help all the producers over the conceptual hump to merge the projects sooner rather than later.