After last week’s $10.6bn acquisition of prime Texas oilfields from BHP Billiton, BP reported a 150% jump in half-year profits on Tuesday.

Thanks to oil prices cresting $80 a barrel, the company generated profits of $5.4bn in the first half and hiked its quarterly dividend (by 2.5%) for the first time in four years.

The market’s response to the numbers was muted thanks to BP’s eye-watering debt, but the stock is already up by around 25% over the last year. Meanwhile, it’s new Texas assets add almost 60 million barrels of oil equivalent a year to its balance sheet and signal that the company has finally managed to draw a line under the 2010 Deepwater Horizon catastrophe.