bp’s operations in the Lone Star State are extensive, ranging from oil and gas exploration and production, to research and technology development, natural gas power and natural gas liquids trading, wind power generation, and shipping.
After completing a $10.5 billion acquisition of BHP’s American shale assets in 2018, bp’s U.S. onshore oil and gas business — known as BPX Energy — took over operations in early 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 190,000 barrels of oil equivalent per day, of which about 45 percent 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 U.S. 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, including a $1.3 billion expansion at Atlantis and a second major expansion at Thunder Horse, expected to boost production at its largest platform by 50,000 barrels of oil a day. bp’s $9 billion Mad Dog 2 development is expected to start up in late 2021.
bp Wind Energy’s Remote Operations Center in Houston centrally monitors all 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.
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 400 million barrels of oil in place at the Atlantis field and another 1 billion at Thunder Horse.
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