A major natural gas discovery offshore Mauritania may be the largest deepwater discovery this year and holds the potential for an export project, according to Kosmos Energy Ltd.
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Houston-based Hilcorp Energy Co., one of the largest private operators in the country and the largest in Alaska, pulled a stunner Tuesday, agreeing to pay BP plc $5.6 billion for all of its legacy operations and interests.
BP plc has found another way to make use of its natural gas via a $30 million investment in a California startup that produces protein for fish, livestock and pet feeds.
BP plc late Thursday confirmed the rumors and agreed to pay $10.5 billion to acquire nearly all of BHP’s massive U.S. onshore portfolio, giving it entry into the Permian Basin in West Texas and substantial acreage in the Eagle Ford and Haynesville shales.
BP plc has brought online a “highly productive” natural gas well in the Mancos Shale of New Mexico, with early production rates said to be the highest achieved in the San Juan Basin in 14 years.
BP plc continued the growth story on Tuesday, joining its Big Oil peers in reporting strong quarterly profits, rising output and lower costs following the historic downturn.
Thailand’s PTT Public Ltd. Co. has struck an agreement with BP plc for about 1 million tonnes per annum (mtpa) of liquefied natural gas (LNG) for 20 years beginning in 2017. LNG is to be sourced from BP’s supply portfolio, including the Freeport LNG export project in Texas.
BP plc has been fined $20.16 million and ordered to disgorge another $207,169 by FERC after the agency found affiliates of the company had gamed the market for natural gas at the Houston Ship Channel (HSC) in 2008 after Hurricane Ike, a decision the London-based supermajor says it will continue to challenge.
BP plc, the first supermajor out of the gate to deliver first quarter results, posted a surprising net profit that upended Wall Street forecasts as lower costs more than offset the impact of weaker commodity prices.