BP moving major US division headquarters from Houston to Denver

BP's U.S. Lower 48 onshore business announced today it will establish its headquarters in Denver, relocating Houston jobs.

The global oil and gas company, which has its US headquarters and roughly 5,000 employees in Houston, announced the move was in order to "be closer to its substantial asset position in the Rocky Mountain region and an important energy hub of the future."

"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," said David Lawler, CEO of BP Lower 48.

A number of employees from the company's current head office in Houston will relocate to Denver, with others remaining in Houston to manage the company's substantial operating assets in Texas, the company said in a statement. Specific numbers of jobs moving were not released.

"Houston will remain a large and important center for our business, and we have no plans to change that," Lawler said. "The same is true for Oklahoma City, which will remain a key hub for managing our assets in the Mid-Continent region. However, we believe this is another important step on our path to become a premier onshore operator and set it up for long-term success."

The new BP Lower 48 headquarters in Denver is expected to open in the first quarter of 2018.