BP’s third-quarter 2026 results highlighted stronger operating performance, continued balance-sheet improvement and a focus on disciplined oil and gas investment. Management singled out BPX Energy’s culture of ownership and accountability as an example to apply across the company, while maintaining significant U.S. offshore development opportunities through Kaskida and Tiber.
OilGasLeads’ supplied U.S. drilling report contains 110 BP/BPX well records through October 22, 2026: 80 in Texas, 21 in Louisiana and nine in federal Gulf waters. Activity was concentrated in the Eagle Ford with 42 records, followed by the Delaware Basin with 36 and the Haynesville with 23. Nabors and H&P together accounted for 101 records, highlighting their substantial participation in the reported drilling program. For service companies and suppliers, the combined earnings commentary and drilling data identify opportunities across onshore development, offshore projects and production efficiency.
Q3/2026 Call Transcripts
BPX Energy was presented as a strong operating example: Management praised its culture of ownership, clear accountability and greater decision-making authority.BP wants to apply that approach across the company: The CEO emphasized learning from BPX’s operating model while retaining the benefits of being part of BP.BPX production growth has added costs: Management said higher BPX activity contributed to spending, while overall group production remained flat. Costs elsewhere need to adjust as production declines.BPX production was expected to fall in Q4, reflecting the timing of activity, which management described as typical for the fourth quarter.U.S. offshore development remains a major investment area: Kaskida and Tiber represent approximately $10 billion of investment. BP delayed bringing in a partner to secure fair value.Weather affected Gulf production: Management cited an approximately 20,000-barrel-per-day production impact early in Q4.U.S. refineries benefit from pipeline access: BP described their ability to receive substantial crude supplies by pipeline as a competitive advantage.U.S. gas and power trading performed well during the quarter.Louisiana remains strategically important, supporting BP’s Haynesville onshore business and much of its offshore activity.
YTD Wells Drilled Total record count: 110, with Activity Dates from January 3 through October 22, 2026. Counts below include all records without deduplication.
Record count by state / offshore region
State / Region Records Texas 80 Louisiana (LA) 21 Federal Offshore Gulf (FO GULF) 9 Total 110
Record count by play / basin
The grouping below uses county geography. Offshore canyon areas are grouped separately.
Play / Basin Counties / Offshore Areas Records Share Eagle Ford DeWitt, Karnes, La Salle, McMullen 42 38.2% Permian — Delaware Basin Reeves, Loving 36 32.7% Haynesville Bossier, Caddo, De Soto, Red River, Sabine, San Augustine 23 20.9% Gulf offshore Green Canyon, Keathley Canyon 9 8.2% Total 110 100.0%
County / offshore area breakdown
Play / Basin County / Area Records Eagle Ford DeWitt 23 Eagle Ford Karnes 8 Eagle Ford La Salle 6 Eagle Ford McMullen 5 Delaware Basin Reeves 35 Delaware Basin Loving 1 Haynesville De Soto 7 Haynesville Bossier 6 Haynesville Red River 4 Haynesville Caddo 2 Haynesville Sabine 2 Haynesville San Augustine 2 Gulf offshore Green Canyon 7 Gulf offshore Keathley Canyon 2 Total 110
Top 10 contractor–rig combinations
Rank Contractor and Rig Records 1 Nabors X41 17 2 Nabors X49 17 3 Nabors X44 15 4 Nabors X50 15 5 H&P 256 14 6 H&P 424 10 7 H&P 420 7 8 Nabors X47 4 9 Ocean BlackLion 4 10 Ocean BlackHornet 3 Top 10 total 106
The file contains 12 unique contractor–rig combinations. Nabors accounts for 70 records, and H&P accounts for 31; together they represent 91.8% of all records.
BP highlighted BPX Energy’s operating accountability and stronger returns in its Q3 2026 earnings call, alongside continued capital discipline and major U.S. offshore investment opportunities. OilGasLeads’ supplied drilling report contains 110 BP/BPX U.S. well records through October 22, led by the Eagle Ford, Delaware Basin and Haynesville, with Nabors and H&P accounting for nearly 92% of records.
Author: phinds