BP Creates New Business to Maximize Efficiencies in the Eagle Ford

BP Has ~450,000 Gross Acres In the Eagle Ford Shale
BP Eagle Ford Shale Map

BP Eagle Ford Map – Click For Larger Version

BP plans to split its U.S. onshore oil and gas segment into a separate business, company officials said in a March 2014 statement. In recent years, BP has divested non-core assets to focus on the development of unconventional plays like the Eagle Ford Shale.

The new business, which will operate separately from BP, will have control of ~5.5 million acres in assets and over 21 wells. Approximately ~450,000 gross acres are in the Eagle Ford Shale alone. BP hopes to maximize competitiveness in the company’s US Lower 48 onshore dealings with this new endeavor.

Read more: BP’s Eagle Ford Shale Position Reaches 450,000 Net Acres

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BP Review of World Energy Trends – Highlights Video

The Eagle Ford Supported The Largest Increase In US Oil Production In History

BP has published its annual statistical review of world energy trends for over 60 years. This year’s report is as interesting as ever. A short video presentation and our takeaways are included below. [Read more…]

Kinder Morgan Plans Second Condensate Facility at Galena Park

Condensate Production From The Eagle Ford Provides Growing Supply
Kinder Morgan Galena Park Terminal Photo

Kinder Morgan’s Galena Park Terminal | Click to Enlarge

Kinder Morgan has reached an expanded agreement with BP that will support the development of an additional 50,000 b/d condensate processing facility at Galena Park. [Read more…]

BP’s Bob Dudley Shares His Energy Thoughts – IHS CERAWeek

US Oil Supply Growth Is Helping Meet Increasing Worldwide Demand

BP’s Bob Dudley addressed the crowd at IHS CERAWeek to share the company’s view of the industry industry. Mr. Dudley described the global energy journey and his view of the role of the US & Russia in the energy future. [Read more…]

Eagle Ford Development is a Win for the U.S.

Lewis Energy & BP plan to drill more than 2,000 wells on their acreage alone

Eagle Ford development is a big win for the U.S. Most foreign countries are sitting on opportunity without acting. Al Holcomb of Lewis Energy Group shared his thoughts on the Eagle Ford and U.S. shale development yesterday at the Plaza Club in San Antonio.

In speaking about the Eagle Ford and shale gas in general, Holcomb said:

“This play is huge, South Texas is emerging as one of the hottest oil and gas regions in this country.”

“The rest of the world is still sitting,it’s given us an unbeatable edge. The big winner will be our country. [Read more…]

BP – Kinder Morgan Sign Long-term Eagle Ford Processing Agreement

Kinder Morgan Galena Park Terminal Photo

Kinder Morgan’s Galena Park Terminal | Click to Enlarge

Kinder Morgan announced on July 19, 2012, the company will provide long-term condensate processing services and storage at terminals located in the Houston Ship Channel. BP will lease 750,000 barrels of storage and has committed 40,000 barrels per day of condensate that will be split into its light and heavy napthas, as well as kerosene and gas oil.

To accommodate, Kinder Morgan will spend $75 million to add storage at its Galena Park Terminal. Five tanks that connect to the condensate facility, new pipes and pumps will will be part of the expansion. [Read more…]