BP Announces new Onshore Unit | Russell T. Rudy Energy LLC
Earlier this year BP announced its plans to split Lower 48 onshore operations off into a separate unit. The stated objective was to sharply focus on shale and other unconventional plays. The new organization is planned to be more nimble and able to react quickly with faster decision making and less bureaucracy. “Rigzone” reports that BP has indicated that staff reductions are part of the implementation of this strategy. BP declined to comment on the extent of the staffing cuts or the locations effected.
The new onshore unit will be led by a separate management team, move to a new location in Houston, and report operating results through its own financials in 2015.
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