BP’s onshore US exploration business for the lower 48 states will add new coalbed methane (CBM) rigs to the midcontinent region in 2015.
BP separated the onshore Lower 48 business into a relatively independent, standalone company earlier this year to make it more competitive with smaller companies active in oil, CBM and gas shale production. The Houston-based staff moved off of BP's campus to a nearby office to help create a more nimble and independent business.
David Lawler, chief executive of BP's Lower 48 business, said "This resource mix allows for optimisation under a broad range of oil and gas prices."
In the San Juan basin in New Mexico, one of BP's three key unconventional assets in North America, the company plans to add two more drilling rigs in 2015 – one to develop coal bed methane reservoirs and the other to appraise the condensate potential of the Mancos/Gallup area.
According to Argus Media, the company will also add rigs to explore for and produce shale and oil.
Edited from various sources by Sam Dodson
Image courtesy of BG Group.
Read the article online at: https://www.worldcoal.com/cbm/12122014/bp-to-add-coalbed-methane-rigs-in-us-cbm166/