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BP’s Q1 2025 Update: Gulf of Mexico Success, Increased Texas Drilling & Oil Price Softness

Oil Gas Leads

Looking ahead, BP plans to drill around 40 exploration wells over the next three years , underscoring its ambition to expand its upstream production base. Exploration successes in the Gulf of Mexico, disciplined capital management , and resilient financial performance all reinforce BPs confidence in its long-term strategy.

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How Energy Giants Performed in Q1 2025: A Breakdown of Equinor, BP, Hess, and NOG

Rextag

Strategic Production Outlook Equinor plans to: Drill ~250 exploration wells on the NCS by 2035 Continue expanding low-carbon solutions through CO storage projects like Northern Lights Phase 2, with injection capacity increasing from 1.5 Empire Wind in the U.S.). billion Net Income: $2.63 billion Adjusted Net Income: $1.79