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BP's Lower 48 unit to establish headquarters in Denver
December 14, 2016 / 4:11 PM / 7 months ago

BP's Lower 48 unit to establish headquarters in Denver

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Dec 14 (Reuters) - BP Plc's U.S. Lower 48 onshore business said it would establish its headquarters in Denver, Colorado, as it moves closer to its operating assets in the Rocky Mountains.

The unit, whose onshore operations span five states - Colorado, New Mexico, Oklahoma, Texas and Wyoming - and seven oil and gas basins, has average daily net production of about 300,000 barrels of oil equivalent.

"With two thirds of our operated oil and natural gas production and proved reserves in the Rockies... Denver is a logical - and strategic - place for us to be and a natural fit for our business," BP Lower 48 Chief Executive David Lawler said. (on.bp.com/2h0qCyo)

The company said it expected to open the Denver office in the first quarter of 2018 with at least 200 employees, including the CEO and executive leadership team.

A number of employees from Lower 48's current head office in Houston would relocate to Denver, it added.

Houston will remain a large and important center for Lower 48's business and Oklahoma City will continue to remain a key hub for managing its assets in the Mid-Continent region, the company said.

BP started operating its Lower 48 onshore unit as a separate business in early 2015. (Reporting by Anet Josline Pinto in Bengaluru; Editing by Martina D'Couto)

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