British Petroleum (BP) has agreed to sell its shares in American shale assets to Sixth Street for $1.5 billion in order to improve its balance sheet.

According to the Wise Finance APP, British Petroleum (BP.US) has agreed to sell its shares in its US shale assets to Sixth Street for $1.5 billion, with the aim of improving its balance sheet and regaining investor confidence. In a statement, British Petroleum stated that funds managed by this American investment company will acquire non-controlling interests in the midstream assets of the Permian and Eagle Ford regions.