Clark Edwards, BPX’s vice president of development, at Hart Energy's SUPER DUG Conference & Expo. (Source: Hart Energy)
BPX Energy, the Houston-based subsidiary of BP Plc, is looking to drastically ramp up its U.S. production over the second half of the decade, Clark Edwards, BPX’s vice president of development, said May 15 during the SUPER DUG Conference & Expo in Fort Worth.
BPX is looking for more liquid heavy volumes, at least based on current pricing, and has ambitious but achievable production goals over the coming years, Edwards said.
“We're consistently currently doing over 400,000 boe/d with plans to go to 650,000 boe/d by the end of decade,” Edwards said.
“One of the things that I think is interesting about that growth portfolio is that it is all organic, so we are growing through the drill bit,” Edwards said, adding that BPX feels advantaged in that regard.
“We feel like we're as good as anybody [and] we're really looking forward to what 2024 through 2030 holds in store for us.”
BPX now has three central processing facilities in operation in the Permian Basin and looks to bring its fourth facility online by mid-year 2025.
“We've got three or four central delivery points online as of now; the most recent one came [online] in early April. Our last one will come online mid-2025,” Edwards said.
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Edwards said the electrification of BPX’s wells in the Permian offers an advantage for both drilling completions and follow-up operations.
“And we really like what it does for us from an efficiency perspective,” Edwards said. “At the end of 2023, about 95% of our Permian well sets [were] fully electrified. … That's a huge part of our strategy … trying to produce a better barrel, a barrel with the lowest carbon intensity we can create.”
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