BP More than Doubles US Shale Oil Putput in 2019
BP's U.S. shale oil production more than doubled in 2019 from a year earlier as it ramped up output following the $10.5 billion acquisition of BHP's assets in late 2018.
Oil production at BP's shale division, known as BPX Energy, rose to 124,000 barrels per day (bpd) in 2019 from 55,000 bpd a year earlier.
Natural gas production rose to 2,175 million standard cubic feet per day from 1,705 million standard cubic feet per day.
Capital expenditure in BPX rose to $1.94 billion in 2019, or around 12% of BP's total capex, from $1.15 billion in the prior year.
BPX operated an average of 13 rigs in three basins in 2019, including 4 in the Haynesville basin, 6 in the Eagle Ford and 3 in the Permian.
(Reporting by Ron Bousso, editing by Louise Heavens)