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Stock impact report

BP Boosts Shale Output in Pivot to Global Upstream Growth [Yahoo! Finance]

BP p.l.c. (BP) 
Last bp p.l.c. earnings: 4/29 04:01 pm Check Earnings Report
Company Research Source: Yahoo! Finance
BP is betting big on the U.S. shale patch to raise its worldwide production and accelerate drilling while keeping a tight capital budget. The UK-based supermajor is doing something few other pure shale producers are doing. Shale drillers have been slowing drilling activity, or at least not spending too much on raising production, amid volatile oil prices that have dropped below the estimated break-even levels too many times to count in the past few months. For example, Diamondback Energy, one of the biggest names in the patch, plans to keep activity and production in 2026 flat relative to fourth-quarter levels. Production guidance for this year is 500,000 – 510,000 barrels of oil per day, or 926,000 - 962,000 barrels of oil equivalent per day (boe/d), with a disciplined capital program. “Given the uncertain outlook for 2026 oil prices, we are going to continue to focus on what we can control,” Diamondback Energy said this week. But BP's U.S. onshore oil and gas business, BPX Show less Read more
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