BP re­ports gas bo­nanza

China Daily (Hong Kong) - - BUSINESS -

BP recorded high pro­duc­tion of shale gas on land it bought from a US shale driller two years ago, the Oil & Gas Jour­nal re­ported on Mon­day. It said the well, which achieved an av­er­age 30-day ini­tial pro­duc­tion rate of 12.9 mil­lion cu­bic feet of gas per day, is lo­cated in San Juan County in New Mex­ico. The jour­nal quoted Dave Lawler, chief ex­ec­u­tive of­fi­cer of BP’s US Lower 48 on­shore busi­ness, say­ing the re­sult gave his com­pany con­fi­dence to pur­sue ad­di­tional devel­op­ment of the shale, which BP be­lieves could be­come one of the lead­ing shale plays in the United States. BP ac­quired the well from Devon En­ergy Corp in late 2015, which ex­panded BP’s ex­ist­ing po­si­tion in the area, known as the San Juan basin, and pro­vided bet­ter ac­cess to its shale.

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