BHP Group is among the potential bidders for Blackstone Group and LLOG Exploration Co.’s oil-exploration joint venture Bluewater, according to people with knowledge of the matter.
The Bluewater business, which is also attracting interest from closely held Fieldwood Energy, is focused on deep-water exploration in the Gulf of Mexico and could fetch about $1.5-billion to $2-billion in a sale, said the people, who asked not to be identified because they weren’t authorized to speak publicly.