bp’s extensive operations in the Lone Star State range from oil and gas production to research and technology development; natural gas, power and natural gas liquids marketing and trading; solar power generation, and shipping.
After bpx energy completed a $10.5 billion acquisition of BHP’s shale assets in 2018, bp’s US onshore oil and gas business took over operations in 2019. The new world-class unconventional oil and gas assets in the Permian Delaware and Eagle Ford basins in Texas, and the Haynesville basin in Texas and Louisiana currently produce roughly 300,000 barrels of oil equivalent per day, of which about 45% are liquid hydrocarbons.
The deal is bp’s largest purchase since buying ARCO in 1999, and bpx energy expects to more than double its annual capital spending to more than $2 billion a year on this newly expanded portfolio.
Houston is home to bp’s US headquarters. In 2019, the company completed a $100 million investment to upgrade its Westlake offices, a major renovation project that fueled local jobs in the Houston area. Additionally, bp’s Gulf of Mexico business and wind energy business are both based in Houston.
As one of the Gulf of Mexico’s largest leaseholders, bp operates four massive gulf production platforms (Atlantis, Na Kika, Thunder Horse and Mad Dog). bp’s next wave of growth is underpinned by several new major projects already underway.
This includes bp’s $9 billion Mad Dog 2 development, which will be anchored by the new platform, which is due to begin production in the Gulf of Mexico in 2022.
Elsewhere in the Gulf, bp is pursuing a $1.3 billion expansion at Atlantis and a second major expansion at Thunder Horse, expected to boost production by 35,000 barrels of oil a day. June 2021 marked the start-up of bp’s Manuel Project, which includes a new subsea production system and two new wells tied into the Na Kika platform that will increase production by more than 20,000 barrels of oil a day.
bp Wind Energy’s Remote Operations Center in Houston centrally monitors all nine bp-operated wind farms — 24 hours a day, seven days a week — while working with colleagues in the field to enhance performance, reliability and safety.
Houston is also a major hub for bp’s marketing and trading business, providing vital energy products and financial services to customers throughout North America.
Other high-tech Houston facilities include bp’s Remote Collaboration Center, providing around-the-clock support for deepwater well operations in the Gulf of Mexico, and the Center for High-Performance Computing (CHPC) — one of the world’s largest supercomputers for commercial research. CHPC advanced seismic imaging revealed an extra 1 billion barrels of oil in place at the Thunder Horse field and another 400 million at Atlantis.
In 2020, bp and the City of Houston agreed to work together to advance the City’s Climate Action Plan (CAP), a framework for making the Energy Capital of World carbon neutral by 2050. bp now serves as the strategic planning and technical advisor for the CAP, which includes providing bp staff experts at no cost to the city.
bp and its heritage companies have been at work in the Gulf of Mexico since the 1950s, and it has been exploring in the deepwater Gulf of Mexico for more than a quarter century
bp focuses on wind and biofuels, businesses that are material, scalable and suited to bp’s core capabilities