BP Keeps Faith With US Onshore Despite Rising Costs

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  • BP continues to increase activity onshore the US, but the assets aren't yielding the best margins, with higher costs and lower realizations relative to its broader portfolio.

  • Inflation in the US onshore is among the highest in the world and will need to be managed as the UK major ramps up drilling on an already tight services market.

  • BP’s US onshore production is increasingly integrated with other assets that form part of its transition strategy, including energy trading, LNG and retail.

The Issue

Corporate Strategy , Capital Spending, Majors, Shale, Upstream Projects
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