BPX Energy, which oversees BP Plc’s oil and gas operations in the Lower 48, plans to bring online its fourth and final central processing facility in the Permian Basin around mid-year 2025, according to the London-based energy giant’s CEO Murray Auchincloss.

BPX recently brought online its second and third central processing facilities: Bingo and Checkmate. The first central facility, Grand Slam, can process about 30,000 bbl/d of oil.

Once all four facilities are online, BPX’s black oil processing capacity will easily exceed the 100,000 bbl/d mark. Auchincloss said the first three facilities were already processing close to that figure.

“I think a lot of the wells are drilled and we should be popping them and filling that up as we move through the second quarter,” Auchincloss said during BP’s first-quarter 2024 webcast with analysts. “Conditions inside the Permian [are] a bit looser, there are more rigs available, obviously from low natural gas prices making the supply side a little bit better.”

BPX started operations as a standalone entity in 2015. The company operates in the Permian’s Delaware Basin and Eagle Ford in Texas as well as the Haynesville in Texas and Louisiana.

BPX averaged 424,000 boe/d in first quarter, up 27% compared to 334,000 boe/d in first-quarter 2023 and up 4% from 406,000 boe/d in fourth-quarter 2023.

In the most recent quarter, BPX ran 11 operated rigs: two in Haynesville, four in the Eagle Ford and five in the Permian.

“Looking ahead, our destination from international oil company to integrated energy company remains unchanged – but we are delivering as a safer, simpler, more focused and higher value company,” Auchincloss said.

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