BP Plans 8% Shale Output Increase, Targets 650,000 Barrels a Day [Yahoo! Finance]
BP p.l.c. (BP)
Last bp p.l.c. earnings: 4/29 04:01 pm
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Source: Yahoo! Finance
This article first appeared on GuruFocus BP Plc ( NYSE:BP ) is pressing harder into US shale at a moment when several peers are easing off the throttle, a divergence that could carry strategic weight for investors watching its turnaround. Through BPX Energy, the company plans to lift shale production by 8% this year, with output of about 500,000 barrels a day representing roughly 20% of BP's current global volumes, according to BPX Chief Executive Officer Kyle Koontz. By the end of the decade, Koontz is targeting 650,000 barrels a day, positioning shale as a central lever in BP's effort to counter the slide in production, profits and shareholder value that followed its 2020 pivot toward renewables and low-carbon initiatives. Warning! GuruFocus has detected 10 Warning Sign with FANG. Is FANG fairly valued? Test your thesis with our free DCF calculator. The expansion comes as Diamondback Energy Inc. ( NASDAQ:FANG ) and EOG Resources Inc. ( NYSE:EOG ) adopt a more restrained pos
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News
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BP
Earnings
- 2/11/26 - Beat
BP
Sec Filings
- 2/11/26 - Form 13F-HR
- 2/10/26 - Form 6-K
- 2/10/26 - Form 6-K
- BP's page on the SEC website