Transactions - AUGUST 7, 2017

BP makes discovery in Mancos Shale

by Released

BP has brought online a highly productive natural gas well in the Mancos Shale, highlighting the potential of the New Mexico field to be a significant new source of U.S. natural gas supply.

Early production rates at the NEBU 602 Com 1H well in San Juan County are the highest achieved in the past 14 years within the San Juan Basin, a large oil and gas producing area spanning southwest Colorado and northeast New Mexico that includes the Mancos Shale. The well achieved an average 30-day initial production rate of 12.9 million cubic feet per day.

The successful well test took place on assets BP acquired in late 2015, which expanded the company’s existing position in the San Juan Basin and provided improved access to the Mancos Shale.

The NEBU 602 Com 1H well was drilled with a 10,000-foot lateral in an area known as the Northeast Blanco Unit (“NEBU”), a section of federal lands located in San Juan and Rio Arriba counties of New Mexico, where BP has had a presence since the 1920s.

In early 2015 BP began operating its U.S. Lower 48 business as a separate business, with its own governance, processes and systems. Since then, the business has achieved significant financial and operational improvements, largely through the use of innovative drilling and completions techniques and the application of data analytics. It has also increased production and added acreage through acquisitions -- all while maintaining an unwavering commitment to safety and the environment.

BP Lower 48 expects to open a new headquarters office in Denver in 2018 that will be closer to the majority of its operated oil and natural gas production assets and proved reserves in the Rocky Mountain region.

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