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bp drilled the exploration well in Green Canyon Block 584, located in western Green Canyon approximately 120 miles off the coast of Louisiana in 4,092 feet of water. Both the initial well and a subsequent sidetrack encountered oil in high-quality Miocene reservoirs. bp expects to grow its global upstreamproduction to 2.3
In a statement , the company said that it drilled the exploration well in Green Canyon Block 584, located in western Green Canyon, about 120 miles off the coast of Louisiana, in water depths of 4,092. Both the initial well and a subsequent sidetrack encountered oil in high-quality Miocene reservoirs.
The discovery comes amid BP's broader pivot away from rapid renewables expansion toward reinforcing its upstream oil and gas portfolio to meet investor expectations and improve financial performance. The initial well and a sidetrack successfully encountered oil in high-quality Miocene-age reservoirs. per barrel in Q1 2025 versus $13.1
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