By Ryan Dezember, Of DOW JONES NEWSWIRES
HOUSTON -(Dow Jones)- BP PLC (BP, BP.LN) has agreed to buy out Royal Dutch Shell PLC’s (RDSA, RDSB, RDSA.LN, RDSB.LN) interest in a pair of U.S. Gulf of Mexico oil and gas fields.
The U.K.-based oil giant exercised its preferential rights to buy Shell’s 25% stake in the deepwater Marlin and Dorado reservoirs, after Shell unveiled an agreement to sell the assets to Houston-based W&T Offshore Inc. (WTI). BP currently owns the other 75% of the reservoirs.
BP spokesman Daren Beaudo said Tuesday his company sent Shell a letter Monday announcing its decision to exercise the rights to buy out its minority partner. Beaudo declined to disclose the purchase price.
W&T Offshore said late Tuesday that it had agreed to buy Shell’s stake in Marlin and Dorado in early November as part of a larger deal to acquire interests in six Gulf of Mexico properties from Shell.
The original deal called for W&T to pay Shell $450 million. Now that the Marlin and Dorado fields aren’t part of the deal, W&T said in a release it will pay Shell $193 million in cash and assume $32 million in debt related to the remaining four properties.
BP first tapped the Marlin reservoir, which sits in 3,240 feet of water, in 1999.
The Marlin reservoir, along with connected fields Dorado and King, which BP already owned exclusively, have had an average daily output of 60,000 barrels of oil and 250 million cubic feet of natural gas. Currently, the properties are producing about 43,000 barrels of oil a day and 60 million cubic feet of natural gas a day, Beaudo said.
-By Ryan Dezember, Dow Jones Newswires; 713-547-9208; ryan.dezember@ dowjones.com
(END) Dow Jones Newswires
12-07-101928ET
Copyright (c) 2010 Dow Jones & Company, Inc.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
