DENVER — BP said Wednesday it will establish its Lower 48 onshore business headquarters in Denver.
The oil and gas company said it wants “to be closer to its substantial operating asset position in the Rocky Mountain region and an important energy hub in the future.”
“In some ways, this is a homecoming for us,” David Lawler, CEO of BP Lower 48, said in a statement. “With two-thirds of our operated oil and natural gas production and proved reserves in the Rockies, world-class universities nearby and a wealth of industry expertise in the region, Denver is a logical — and strategic — place for us to be and a natural fit for our business.”
BP said its move highlights its Lower 48 division’s continued momentum despite the ongoing challenges surrounding low commodity prices for oil and natural gas.
BP has signed a lease for an 86,000-square-foot office space in the Riverview building (1700 Platte St.). It anticipates at least 200 employees will be established in Denver with more staff to be added later.
Several employees from the company’s current headquarters in Houston will relocate to Colorado.