BP names new CEO of U.S. Shale unit
HOUSTON, Texas -- BP has named David Lawler CEO of its U.S. Lower 48 Onshore business.
Lawler, who brings more than 20 years of industry experience to the role, will begin on September 15 and report to Lamar McKay, BP’s Upstream Segment CEO. Lawler, 46, takes over just months before BP formally establishes a separate business to manage its onshore oil and gas assets in the continental U.S. The move is designed to give the business the flexibility it needs to aggressively compete in the rapidly changing market.
“With an impressive track record at integrated oil and gas companies as well as independents, Dave is uniquely qualified to lead our onshore business during this exciting transition,” McKay said. “His experience and skills match up perfectly with our goals for the business. I’m confident he will create a competitive and sustainable operation that will be a key component of BP’s portfolio for many years.”
Lawler joins BP from SandRidge Energy, Inc., an Oklahoma City-based independent oil and gas producer, where he most recently was Executive V.P. and COO. Before that, Lawler was the CEO and president of PostRock Energy Corporation, another independent oil and gas producer in Oklahoma. Lawler spent the first part of his career working for major integrated oil and gas companies, including Shell for 10 years.
“It is an honor to join BP and have the opportunity to work with the talented members of the Lower 48 organization,” Lawler said. “I’m looking forward to leveraging BP’s talent and resources while running the business as if it were an independent.”
In March, BP reported that in early 2015 it would establish this separate business. BP will continue to own it but Lawler and his leadership team will develop and implement the strategy to expand the company’s crude oil and natural gas liquids portfolio.
The new business also will have separate governance, processes and systems designed to address the unique operating environment in the onshore industry. BP is expected to begin disclosing separate financials for the business in 2015. It will maintain a rigorous focus on safety, integrity and reliability of the operation. These changes are chiefly intended to materially improve the cash flow of the U.S. Lower 48 Onshore business.
The business operates in multiple gas basins from the onshore Gulf Coast north through the Rocky Mountains, and its portfolio includes an extensive unconventional resource base of approx. 7.6 Bboe, across 5.5 million acres and an interest in approx. 20,000 wells.