BHP Reports Rise in Gas Production
Anglo-Australian multinational BHP July 17 said its gas production during the 12 months to June (financial year 2018-2019) was 397bn ft3, up 5% year-on-year.
“Natural gas production increased by five per cent to 397bn ft3, reflecting increased tax barrels at Trinidad and Tobago in accordance with the terms of our production sharing contract and higher uptime at North West Shelf. This was partially offset by planned maintenance at Trinidad and Tobago in the December 2018 quarter, the impact of tropical cyclone Veronica in Western Australia and natural field decline across the portfolio,” it said.
Production during the three months that ended in June (Q4 2019) was 98bn ft3, up 8% year-on-year. End-October, BHP completed the $10.5bn sale of its US unconventional assets to BP. The sale, which was announced in July last year , closed as scheduled on October 31.
BHP September last year announced the completion of the sale of its Fayetteville onshore US gas assets to a wholly owned subsidiary of Merit Energy Company.
Meanwhile, BHP said the Bass Strait West Barracouta project is tracking to plan. ExxonMobil mid-December took the final investment decision with BHP to develop the West Barracouta gas field in Bass Strait to bring new gas to the Australian domestic market.