Uchenna Izundu
International Editor
LONDON, Feb. 16 -- BP PLC reported it plans to invest as much as $2.4 billion over the next 13 years to boost by more than 20% its 425 MMcfd share of coalbed methane gas production in the San Juan basin of southwestern Colorado.
BP said it will drill more than 700 wells from existing well pads in the basin. It has already acquired regulatory infill approval and associated field infrastructure.
CBM constitutes 10% of gas production in the US. The San Juan basin project is a major initiative for BP that is part of a 10-year, $45 billion oil and gas exploration and production program in the US that includes major investments in the deepwater Gulf of Mexico, Alaska, and the Lower 48 states.
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