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BP Will Form Separate U.S. Onshore Field Business

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March 4, 2014

BP Plc, the third-largest European energy producer by market value, will form a separate business to manage its onshore oil and natural gas assets in the continental U.S.

While BP will continue to own the unit, the new organization will operate with its own management team at a different Houston office and will have separate financials starting in 2015, the London-based company said in a statement March 4. The unit has the equivalent of 7.6 billion barrels of oil across 5.5 million acres and a stake in more than 21,000 ...

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