BP CEO says it is time to increase US gas production

Written by Ron Bosso

CEO Murray Usinglos said on Tuesday that Houston – is scheduled to increase the production of natural gas in the United States in wild rock operations after the recent rise in local gas prices.

“With high gas prices, it’s time for Heinzville in East Texas.

Natural gas prices in the United States increased more than twice the past year to about $ 4.4 per million British thermal units (MMBTU) as new LNG export stations (LNG) along the Gulf Coast.

Last year, BP 434,000 barrels of rewards per day produced its US rock operations. From this, 264,000 BOEPD was a natural gas, mostly linked to the extraction of crude oil, according to the results of the full year.

It operated two excavators in the Heinzville Basin, compared to four oil -rich platforms and four others in the Ford Pinks. It has 5.5 billion cubic feet of natural gas reserves in the red rock basin in the United States.

Last month, Auchincloss announced plans to reduce investment in renewable energy and increase annual oil and gas spending to $ 10 billion, a major transformation in the strategy that aims to enhance profits and investor confidence.

BP now aims to grow oil and gas production to between 2.3 million and 2.5 million BOEPD in 2030, after canceling a previous goal to reduce production during the contract.

Oshinklos said that the United States will play a major role in the renewed focus on oil and gas, along with the Middle East.

Last year, the BP gave the green light to develop the Castaqa oil field in the Gulf of Mexico, which lies in a very complex geological structure called Baltin.

Oshnixus said that BP is planning to move forward in developing Paleogene II, TIBER, later this year.

“We have a great location here in the Gulf of America. In Paleogene we have 10 billion barrels (from oil and gas resources) in place,” he said.

He said that BP plans to explore more resources in the pelvis.

“We believe this is the next wave of development in Paleogene in the Gulf of America.”

(Participated in Ron Boso’s reports; edited by David Gregorio)