Download now: Oil Price Outlook 2024

BP (NYSE: BP) Starting New Company for US Shale Plays

Brian Hicks

Written By Brian Hicks

Posted March 4, 2014

BP (NYSE: BP) announced on Tuesday that it will be spinning off its “Lower 48” onshore gas holdings into a new company, focused on developing its unconventional holdings like the Eagle Ford Shale in Texas.

BP will own the new company, but it will have its own independent management team and its own new location in Houston, Texas. Financial information about this new company will be disclosed in 2015.

“Participating in the US Lower 48 onshore is key to our upstream strategy because we believe the region will remain at the forefront of innovation and drive global learning in unconventional resources,” BP Upstream Chief Executive Lamar McKay said in a statement on Tuesday.

Biotech & Robotics Run Up

Instead of diving into an ETF that indiscriminately grabs onto any robotics stock there is, take a minute and do your research. You might discover that you are growing just as much as the market is.

Angel Pub Investor Club Discord - Chat Now

Brian Hicks Premium


Hydrogen Fuel Cells: The Downfall of Tesla?

Lithium has been the front-runner in the battery technology market for years, but that is all coming to an end. Elon Musk is against them, but Jeff Bezos is investing heavily in them. Hydrogen Fuel Cells will turn the battery market upside down and we've discovered a tiny company that is going to make it happen...

Sign up to receive your free report. After signing up, you'll begin receiving the Energy and Capital e-letter daily.