Your Portal for Key Energy Information and Research

BP PLC

Company Summary

Description

BP is one of the world's leading integrated oil and gas companies. The company provides customers with fuel for transportation, energy for heat and light, lubricants to keep engines moving, and the petrochemicals products used to make everyday items as diverse as paints, clothes and packaging.

Website

https://www.bp.com/

Operational Regions

  • North Slope
  • Prudhoe Bay
  • Gulf of Mexico
  • San Juan Basin
  • Arkoma Basin
  • Anadarko Basin
  • Oklahoma STACK Play
  • SCOOP
  • Texas Panhandle
  • Eagle Ford
  • Wamsutter Field
  • Worldwide

Financial Data:

NYSE:BP from Google Finance

Tickers:

  • BP - New York Stock Exchange
  • BP - London Stock Exchange Group

Related Entities

Firm Transport Commitments

Project: Freeport LNG Train 2
Firm Commitment: 4.4 mtpa

Project: Calcasieu Pass LNG Terminal
Firm Commitment: 2 mtpa

Project: Tortue FLNG Facility Phase 1
Firm Commitment: 2.5 mtpa

Project: Goldboro LNG Project
Firm Commitment: 0.75 mtpa

Project: Woodfibre LNG Project
Firm Commitment: 0.75 mtpa

Project: Woodfibre LNG Project
Firm Commitment: 0.75 mtpa

Recent news

  • 12/5/2022 - BP Reaches Agreement... (subscriber access)
  • 11/28/2022 - Hoegh LNG Holdings's... (subscriber access)
  • 11/28/2022 - BP Set to Market... (subscriber access)
  • 11/28/2022 - BP Awarded Exploration... (subscriber access)
  • 11/22/2022 - BP Begins Commissioning... (subscriber access)

Investor Presentations

  • 3Q22 Investor Presentation
  • 3Q21 Investor Presentation (subscriber access)
  • BP 2020 Outlook (subscriber access)
  • BP 4Q and FY19 Presentation (subscriber access)
  • 2Q19 Investor Presentation (subscriber access)
  • 3Q18 Investor Presentation (subscriber access)
  • 2Q18 Investor Presentation (subscriber access)
  • Presentation on the Acquisition of BHP's US Onshore Assets (subscriber access)
  • 1Q18 Investor Presentation (subscriber access)
  • Fourth Quarter 2017 Earnings Slides & Transcript (subscriber access)
  • 3Q17 Presentation Slides & Script (subscriber access)
  • 2Q17 Earnings Presentation (subscriber access)
  • 2017 Strategic Update - Brian Gilvary - Financial Framework (subscriber access)
  • 2017 Strategic Update - Lamar McKay - Low Carbon Future (subscriber access)
  • 2017 Strategic Update - Tufan Erginbilgic - Downstream (subscriber access)
  • 2017 Strategic Update - Q&A Transcript (subscriber access)
  • 2017 Strategic Update - Bernard Looney - Upstream (subscriber access)
  • 2017 Strategic Update - Bob Dudley - Med/Long Term Outlook (subscriber access)
  • 4Q16 Earnings Presentation (subscriber access)
  • 3Q16 Investor Presentation (subscriber access)
  • 2Q16 Investor Presentation (subscriber access)
  • 1Q16 Results (subscriber access)

Company Transactions

Date: 12/31/2022
Type: Acquisition

BUYERS:
  • BP PLC
  • DETAILS:

    COST: 4.1 $B

    NOTES:
    Archaea Energy, a renewable natural gas company in the United States, will be acquired by BP, for $26/share in cash. The deal places an enterprise value of $4.1 billion on Archaea, inclusive of $800 million in net debt. Closing is targeted for year-end 2022.
    REGIONS:
  • North America
  • Date: 1/31/2022
    Type: Acquisition

    BUYERS:
  • BP PLC
  • DETAILS:
    NOTES:
    BP has reached a deal with BP Midstream Partners (BPMP) to acquire all outstanding common units of BPMP that they do not already own. That would represent the purchase of 47.8 million units via an all-stock transaction, with each unit holder receiving 0.575 of an American Depositary Share of BP.
    REGIONS:
  • International
  • Date: 12/8/2021
    Type: Acquisition

    BUYERS:
  • BP PLC
  • SELLERS:
  • AMPLY Power
  • DETAILS:
    NOTES:
    BP has acquired its first U.S.-focused electric vehicle (EV) charging and energy management provider in the form of AMPLY Power. AMPLY currently serves fleets that run trucks, transit and school buses, vans and light utility vehicles.
    REGIONS:
  • North America
  • Date: 7/1/2021
    Type: Acquisition

    BUYERS:
  • BP PLC
  • SELLERS:
  • 7X Energy
  • DETAILS:

    COST: 220 $MM

    VOLUMES: 9000 MW

    NOTES:
    BP is acquiring a 9 GW portfolio of solar development projects from independent developer 7X Energy. They will pay 7X with $220 million in cash and 1 GW of "safe harbour" equipment, with closing in 30 days. This deal boosts BP's pipeline from 14 GW to 23 GW and they will be deployed via BP's 50/50 joint venture Lightsource bp.
    REGIONS:
  • Lower 48
  • Date: 6/30/2021
    Type: Acquisition

    NOTES:
    BP has reached a deal to sell a 20% stake in Oman's Block 61 to Thailand's PTT Exploration and Production Public Company Limited for $2.6 ‎billion. BP will retain operatorship and a 40% interest in the asset. Closing is expected in 2021.
    REGIONS:
  • Middle East
  • Date: 2/15/2021
    Type: Acquisition

    BUYERS:
  • BP PLC
  • SELLERS:
  • Equinor ASA
  • DETAILS:

    COST: 1.1 $B

    VOLUMES: 2300 MW

    NOTES:
    Equinor will sell a 50% non-op stake in its Empire Wind and Beacon Wind projects on the U.S. east coast to BP for $1.1 billion. The deal is meant as a foundation for a go-forward strategic partnership between the two firms to develop US offshore wind assets.
    REGIONS:
  • Northeast
  • Date: 12/31/2020
    Type: Acquisition

    BUYERS:
  • INEOS
  • SELLERS:
  • BP PLC
  • DETAILS:

    COST: 5 $B

    NOTES:
    BP has reached a deal with Ineos to divest the global petrochemicals business for $5 billion. The deal includes a $400 million deposit and $3.6 billion due upon closing. Another $1 billion will be pushed and paid in separate installments, including $100 million in March, April and May 2021 and then $700 million by June 2021. Closing will occur by year-end 2020.
    REGIONS:
  • International
  • Date: 12/30/2020
    Type: Acquisition

    SELLERS:
  • BP PLC
  • DETAILS:

    COST: 5.6 $B

    NOTES:
    BP reported that it has agreed to sell its entire Alaskan business to Hilcorp Alaska for total consideration of $5.6 billion, comprised of $4.0 billion payable near-term and $1.6 billion through an earnout thereafter.

    Date: 7/9/2020
    Type: Joint Venture

    BUYERS:
  • BP PLC
  • DETAILS:

    COST: 1 $B

    NOTES:
    BP and Reliance Industries have kicked off their new Indian fuels and mobility JV, Reliance BP Mobility Limited. The agreement was initially signed in 2019, with BP paying Reliance $1 billion for a 49% stake in the JV. The firm is aiming to become a leader across India's fuels markets, with the press release citing that India "is expected to be the fastest-growing fuels market in the world over the next 20 years." They will expand their fuel network from 1,400 retail stores to up to 5,500 within the next five years, along with other expansions in the nation.
    REGIONS:
  • Asia
  • Date: 12/30/2019
    Type: Acquisition

    NOTES:
    Harvest reported it will acquire all of BP's ownership in midstream interests in Alaska, including a 49% stake in the Trans-Alaska Pipeline System, 49% of the Alyeska Service Company, and other midstream interests.

    Date: 12/2/2019
    Type: Acquisition

    BUYERS:
  • IKAV
  • DETAILS:
    NOTES:
    BP has divested its stake in the San Juan Basin to European renewable developer IKAV. Financial terms were not disclosed. The asset includes 1,390 wells in CO and 2,440 in NM, and is part of BP's efforts to divest up to $6 billion in acreage.
    REGIONS:
  • San Juan Basin
  • Date: 6/30/2019
    Type: Acquisition

    BUYERS:
  • Dragon Oil PLC
  • DETAILS:

    COST: 600 $MM

    NOTES:
    BP announced the sale of its stake GUPCO to Dragon Oil for over $600 million
    REGIONS:
  • Middle East
  • Date: 12/18/2018
    Type: Acquisition

    BUYERS:
  • BP PLC
  • DETAILS:

    VOLUMES: 3 MBOE/d

    NOTES:
    ConocoPhillips has entered into a deal with BP to sell a 16.5% stake in the BP-operated Clair Field of the United Kingdom for an undisclosed price. COP will retain a 7.5% stake in that field. Concurrently, they have entered into a deal to acquire BP's 39.2% stake in the Greater Kuparuk Area of Alaska and BP's 38% stake in the Kuparuk Transportation Company. Both deals are conditional upon one another and will close simultaneously upon regulatory approval.
    REGIONS:
  • North Sea
  • Europe
  • Date: 12/18/2018
    Type: Acquisition

    SELLERS:
  • BP PLC
  • DETAILS:

    VOLUMES: 38 MBOE/d

    NOTES:
    ConocoPhillips has entered into a deal with BP to sell a 16.5% stake in the BP-operated Clair Field of the United Kingdom for an undisclosed price. COP will retain a 7.5% stake in that field. Concurrently, they have entered into a deal to acquire BP's 39.2% stake in the Greater Kuparuk Area of Alaska and BP's 38% stake in the Kuparuk Transportation Company. Both deals are conditional upon one another and will close simultaneously upon regulatory approval.
    REGIONS:
  • Alaska
  • Date: 10/15/2018
    Type: Acquisition

    DETAILS:

    COST: 10.5 $B

    VOLUMES: 190 MBOE/d

    ACRES: 470000 Acres

    NOTES:
    The acquired assets include 470,000 net acres with 190 Mboe/d in production (45% liquids,) and 4.6 Bboe in resources. Regionally, it includes 83,000 acres in the Permian Basin with 40 Mboe/d (70% liquids) in production, 194,000 acres in the Eagle Ford producing 90 Mboe/d (70% liquids) and 194,000 acres in the Haynesville producing 60 Mboe/d (100% gas.)
    REGIONS:
  • Eagle Ford
  • Permian Basin
  • Delaware Basin
  • Haynesville-Bossier Shale
  • Date: 10/2/2018
    Type: Acquisition

    SELLERS:
  • BP PLC
  • DETAILS:

    COST: 468 $MM

    NOTES:
    BP Midstream Partners acquired equity interests in Mardi Gras Transportation System Company LLC, URSA Oil Pipeline Company LLC, and KM-Pheonix Holdings LLC from BP for $468 million in cash. Following the acquisition, BP Midstream Partner contains 65% interest in Mardi Gras, roughly 22.7% interest in Ursa, and 25% interest in KM-Phoenix.
    REGIONS:
  • Gulf of Mexico
  • Date: 12/15/2017
    Type: Acquisition

    BUYERS:
  • BP PLC
  • SELLERS:
  • Lightsource bp
  • DETAILS:

    COST: 200 $MM

    NOTES:
    Lightsource and BP have agreed to form a strategic partnership that will include $200 million paid to Lightsource over a three year period. At the end of this period, BP will have a 43% stake in Lightsource.
    REGIONS:
  • Europe
  • International
  • Date: 12/28/2016
    Type: Acquisition

    NOTES:
    Shell Midstream has closed on the acquisition of a stake in three Gulf of Mexico Pipelines from BP. The deal includes a 10% stake in the Proteus Oil Pipeline Company, a 10% stake in the Endymion Oil Pipeline Company and a 1% stake in the Cleopatra Gas Gathering Company.
    REGIONS:
  • Gulf of Mexico
  • Date: 12/5/2016
    Type: Acquisition

    BUYERS:
  • BP PLC
  • SELLERS:
  • Repsol SA
  • DETAILS:

    COST: 313 $MM

    NOTES:
    Repsol sold its 3.06 percent stake in the Tangguh LNG project in Indonesia to British firm BP for $313 million.
    REGIONS:
  • Asia