With operations in Texas and Louisiana, our US onshore business – known as bpx energy – has become both a premier oil and gas producer and a leader in reducing methane emissions, reflecting bp’s global resilient and focused hydrocarbon strategy.
High-margin barrels produced responsibly
bpx energy operates in the Permian-Delaware and Eagle Ford basins in Texas and the Haynesville basin in Texas and Louisiana, focusing on safely producing higher-margin barrels while driving down emissions.
In 2018, we acquired world-class shale assets from BHP in Texas and Louisiana. At the time bpx assumed operations of those assets, flaring intensity was around 16%. Today it is less than 2% and dropping.
In total, the sustainable emissions reductions bpx delivered in 2020 are an amount comparable to the annual electricity-related emissions of over 100,000 typical homes. The projects driving those reductions include construction and electrification of centralized facilities and electrification of certain existing facilities.
The numbers tell the story
bpx produced an average of
bpx delivered sustainable emissions reductions totaling
bpx employs approximately
through its operations
What we are doing with our Permian assets is a clear example of our strategy in action. Electrification of the field has been a gamechanger. We are cutting emissions while significantly increasing the reliability of our field operations enabling a 20% increase in production. It’s exciting to see our emissions decrease and our operating cash flow increase.
Grand Slam represents the largest infrastructure project to date for bpx energy. We anticipate that more than 75% of our Permian operated wells will be electrified by the end of 2021, and that more than 95% will be electrified by 2023.
Our journey is just beginning. We still have work to do, but we are constantly evaluating and piloting new technologies to help further reduce emissions, including flaring, and help advance bp’s ambition to be a net zero company by 2050 or sooner.
Not only are we driving down emissions, but we are also driving efficiency and reliability to increase value. For example, by using electricity to power our drilling operations, we save more than 50,000 gallons of diesel per well every 20 days.
Preventing methane from escaping into the atmosphere is good for our planet; it’s also good for our business, because the more gas we keep in a pipeline, the more gas we can sell. That’s why we at bp are working to delivering on our aims to reduce emissions – including methane – from our operations.