BP more than doubles U.S. shale oil output in 2019

LONDON, Feb 4 (Reuters) - BP's U.S. shale oil
production more than doubled in 2019 from a year earlier as it
ramped up output following the $10.5 billion acquisition of
BHP's assets in late 2018.

Oil production at BP's shale division, known as BPX Energy,
rose to 124,000 barrels per day (bpd) in 2019 from 55,000 bpd a
year earlier.

Natural gas production rose to 2,175 million standard cubic
feet per day from 1,705 million standard cubic feet per day.

Capital expenditure in BPX rose to $1.94 billion in 2019, or
around 12% of BP's total capex, from $1.15 billion in the prior
year.

BP has largely completed the sale some portfolios of shale
assets producing mostly natural gas, which it put on sale
following the BHP deal, Chief Financial Officer Brian Gilvary
said.

BPX operated an average of 13 rigs in three basins in 2019,
including 4 in the Haynesville basin, 6 in the Eagle Ford and 3
in the Permian.

(Reporting by Ron Bousso, editing by Louise Heavens)