BP is doubling down on its U.S. natural gas production, particularly in the Haynesville Basin, as domestic gas prices surge. CEO Murray Auchincloss, speaking at the CERAWeek conference in Houston, highlighted the company’s renewed focus on oil and gas, marking a strategic pivot from its previous emphasis on renewable energy.

Kyle Koontz is the new CEO of BPX Energy, BP’s U.S. onshore oil and gas division. He took over the role after previously serving as BPX’s Vice President for Development, where he played a critical role in overseeing BPX’s growth strategy and operational excellence in drilling and completions. Koontz has been with BP since 2016 and has been instrumental in transforming BPX’s onshore operations, particularly following BP’s acquisition of BHP Billiton’s U.S. onshore assets.

A major highlight of bpx energy’s modernization efforts is its investment in electrical infrastructure. By the end of 2023, the company had electrified 95% of its Permian wells, shifting away from diesel and natural gas-powered operations to electricity.

BP’s recent projections suggest that global oil demand will peak in 2025, largely driven by the rapid growth of renewable energy sources such as solar and wind. This transition is expected to contribute to a significant reduction in global carbon emissions by the mid-2020s. BP’s annual Energy Outlook study outlines two potential scenarios: the current trajectory of the energy transition and a pathway to achieve net-zero emissions by 2050.

During the BP Q1 2024 Results Call, Murray Auchincloss and Kate Thomson provided several updates and insights regarding BPX operations in the Permian Basin: Oil & Gas Data Download BPX Wells Drilled Since 2023 BPX Permian Basin Plan Murray Auchincloss expressed confidence in BPX’s growth and productivity, highlighting the strong…