Don’t Call Them “BP Lower 48” Anymore, With New Name and Houston, Denver Offices

November 16, 2018

 

BP Lower 48, the formerly-Houston-based BP spinoff that up and moved its headquarters to Denver, has a new name — and new offices in Denver and, well, Houston.

At the end of October, BP Lower 48 changed its name to BPX to coincide with the closing in its $10.5 billion acquisition of Australian oil and gas giant BHP Billiton‘s assets that include, as BPX puts it, “190,000 barrels of oil and gas production per day and 4.6 billion oil equivalent barrels of discovered resources in the liquids-rich regions of the Permian and Eagle Ford basins in Texas and in the Haynesville natural gas basin in East Texas and Louisiana.”

Multinational BP spun off a separate business for it’s mainland United States onshore assets in January 2015, covering Colorado, Louisiana, New Mexico, Oklahoma and Wyoming as well as Texas, according to BPX spokesman Brett Clanton.

Now BPX, the lower 48 business, has a new office covering 91,000 square feet on three floors, roughly one quarter of the building, at the West Memorial Place II office building at Houston’s Energy Corridor with a long-term lease.

A move-in is planned over the next few weeks.

The new office is separate from BP’s general US headquarters, which is not far away at Three Eldridge Place, also in Houston.

And in Denver, BPX has been hiring at it’s US headquarters following its move from Houston, where hundreds of workers stayed behind.

The corporation recently moved into it’s new Mile High City space and is now looking to sell its natural gas operations in the San Juan Basin in southwest Colorado, northwest New Mexico and elsewhere to help finance the BHP acquisition — if the price is right, according to the Denver Post.