Billions befall Wamsutter

BP announced recently that it will invest up to $2.2 billion to double production from its acreage in the Wamsutter gas field in the Rockies region of the United States.

The multi-year drilling program is expected to increase BP's share of ultimate recovery from the field by 450 million barrels of oil equivalent and increase BP daily net production from 125 to 250 million standard cubic feet per day by the end of the decade.

The $2.2 billion outlay includes the drilling of 2,000 wells over the next 15 years and a two-year, $120 million technology field trial program which could lead to additional field development in the future.

"This major investment follows more than two years of focused, accelerated drilling and technical studies which revealed the untapped potential of the Wamsutter resource. It has created 1,600 new development locations," said Tony Hayward, chief executive, BP Exploration and Production.

The Wamsutter project is part of a projected 10-year, $15 billion investment program BP plans for its North American onshore operations.