The bpx energy business comprises bp's onshore oil and gas operations in the 'Lower 48' states of the US. The business has significant activities producing hydrocarbons with primary focus on developing unconventional resources in Texas.
Second
First
Second
First
First
quarter
quarter
quarter
half
half
Production (net of royalties)(a)
2022
2022
2021
2022
2021
Liquids(b) (mb/d)
127
120
106
124
104
Natural gas (mmcf/d)
1,145
1,101
971
1,123
948
Total hydrocarbons(c) (mboe/d)
324
310
273
317
268
Average realizations
Total liquids ($/bbl)
77.93
65.75
44.84
72.03
42.35
Natural gas ($/mcf)
6.25
3.90
3.16
5.10
3.37
Total hydrocarbons ($/boe)
52.57
39.35
28.66
46.15
28.49
Production costs per boe (excluding rationalization costs)(d) ($/boe)
8.59
9.35
8.15
8.96
9.03
Capital expenditure on a cash basis ($ million)
471
303
270
775
438
Average number of bpx energy-operated rigs per basin for the
period
Haynesville
3
3
2
3
3
Eagle Ford
4
4
4
4
4
Permian
2
2
2
2
2
Average number of rigs for the period
9
9
8
9
9
Estimated net proved reserves(e) at
31 December 2021
Developed Undeveloped
Total
Crude oil(f) (million barrels)
113
244
356
Natural gas liquids (million barrels)
93
176
269
Natural gas (billion cubic feet)
2,011
3,292
5,303
Total net proved reserves on an oil equivalent basis (million barrels of oil equivalent)
552
987
1,539
Reflects impacts of divestments.
Liquids comprise crude oil, condensate and natural gas liquids.
Hydrocarbons comprise liquids and natural gas. Natural gas is converted to oil equivalent at 5.8 billion cubic feet = 1 million barrels.
Production costs do not include depreciation, depletion and amortisation, ad valorem and severance taxes and certain other costs.
Because of rounding, some totals may not agree exactly with the sum of their component parts.
Crude oil includes condensate.
For details of the group's results for the period ended 30 June 2022, see bp's Stock Exchange Announcement for the period ended 30 June 2022, dated 2 August 2022, available at http://www.bp.com/en/global/corporate/investors/results-and-reporting/quarterly-results-and-webcast.html
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BP plc published this content on 02 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 August 2022 06:19:06 UTC.
BP p.l.c. is one of the world's leading oil groups. Net sales break down by activity as follows:
- refining and distribution (76.1%): At the end of 2023, the group had 7 refineries (including 3 in the United States) and a network of 21,100 service stations (including 8,200 in the United States);
- exploration and production of hydrocarbon (23.6%): oil (1,115,000 million barrels produced per day) and natural gas (196.6 million m3 produced per day);
- other (0,3%).
Net sales are distributed geographically as follows: the United States (28.8%) and other (71.2%).