BHP's 1Q Gas Output Up 5% on Year
Anglo-Australian multinational BHP October 17 said its gas production during the quarter that ended September 30 (1Q2019) increased by 5% year on year to 112bn ft3 “reflecting increased tax barrels at Trinidad and Tobago in accordance with the terms of our production sharing contract.”
The company said completion of the sale of its interests in the Eagle Ford, Haynesville and Permian onshore US oil and gas assets to BP America Production Company, a subsidiary of BP, is expected to occur by the end-October. BHP September 29 announced the completion of the sale of its Fayetteville Onshore US gas assets to a wholly owned subsidiary of Merit Energy Company.
The assets had been on the market for several months. “The sale of our onshore US assets is consistent with our long-term plan to continue to simplify and strengthen our portfolio to generate shareholder value and returns for decades to come,” BHP CEO Andrew Mackenzie said in July.