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BP's New Project to Enhance Yield at Thunder Horse Platform
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BP plc (BP - Free Report) has commenced a major water injection project at its Thunder Horse platform, one of the biggest deepwater fields in the U.S. Gulf of Mexico (GoM).
BP has revamped the platform’s existing topsides and subsea equipment over the last three years alongside drilling two water injection wells at the site. Water is expected to be injected into the reservoir from these wells to enhance pressure and augment production. Moving ahead, these developments are anticipated to help the Thunder Horse facility recover an extra 65 million barrels of oil equivalent. Thus, the water injection project will extend the production life of the platform.
Out of the five major upstream projects in 2016 that BP expects to commission, the aforesaid project is the second. BP intends to add new production of about 800,000 barrels of oil equivalent per day worldwide from projects commissioned between 2015 and 2020.
Located in a water depth of 6,000 feet, the Thunder Horse platform commenced production in Jun 2008. The facility, which has the capacity to handle 250,000 barrels of oil and 200 million cubic feet per day of natural gas, remained functional while work on the water injection project was in progress.
BP operates four large production platforms in the deepwater GoM – Thunder Horse, Atlantis, Mad Dog and Na Kika. The company also has interests in four non-operated hubs, namely Mars, Mars B, Ursa and Great White.
Apart from the aforesaid project, BP is currently working on the Thunder Horse South Expansion project to add a new subsea drill center about two miles away from the Thunder Horse platform. Moreover, BP is designing the Mad Dog Phase 2 project. This is expected to improve resources in the central area of the Mad Dog field through a subsea development tied back to a new floating production hub comprising as many as 24 wells from four drill centers.
BP currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the oil and gas sector include CVR Refining, LP , Murphy USA Inc. (MUSA - Free Report) and Braskem S.A. (BAK - Free Report) . All these stocks sport a Zacks Rank #1 (Strong Buy).
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BP's New Project to Enhance Yield at Thunder Horse Platform
BP plc (BP - Free Report) has commenced a major water injection project at its Thunder Horse platform, one of the biggest deepwater fields in the U.S. Gulf of Mexico (GoM).
BP has revamped the platform’s existing topsides and subsea equipment over the last three years alongside drilling two water injection wells at the site. Water is expected to be injected into the reservoir from these wells to enhance pressure and augment production. Moving ahead, these developments are anticipated to help the Thunder Horse facility recover an extra 65 million barrels of oil equivalent. Thus, the water injection project will extend the production life of the platform.
Out of the five major upstream projects in 2016 that BP expects to commission, the aforesaid project is the second. BP intends to add new production of about 800,000 barrels of oil equivalent per day worldwide from projects commissioned between 2015 and 2020.
Located in a water depth of 6,000 feet, the Thunder Horse platform commenced production in Jun 2008. The facility, which has the capacity to handle 250,000 barrels of oil and 200 million cubic feet per day of natural gas, remained functional while work on the water injection project was in progress.
BP operates four large production platforms in the deepwater GoM – Thunder Horse, Atlantis, Mad Dog and Na Kika. The company also has interests in four non-operated hubs, namely Mars, Mars B, Ursa and Great White.
Apart from the aforesaid project, BP is currently working on the Thunder Horse South Expansion project to add a new subsea drill center about two miles away from the Thunder Horse platform. Moreover, BP is designing the Mad Dog Phase 2 project. This is expected to improve resources in the central area of the Mad Dog field through a subsea development tied back to a new floating production hub comprising as many as 24 wells from four drill centers.
BP currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the oil and gas sector include CVR Refining, LP , Murphy USA Inc. (MUSA - Free Report) and Braskem S.A. (BAK - Free Report) . All these stocks sport a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>