BHP's Petroleum Production Hits Record 62.7 MMboe in Sept. Quarter

BHP Billiton Ltd. posted a record 62.7 million barrels of oil equivalent (MMboe) in total petroleum production for the September 2013 quarter, up 2 percent from a year ago, but the firm kept its guidance for the 2014 financial year (FY), commencing July 1, unchanged at 250 MMboe, according to its quarterly operational review released Tuesday.

The higher petroleum production was attributed to a 16 percent rise in liquids output - comprising crude oil, condensate and natural gas liquids - during this period to 26.053 MMboe, which offset a 6 percent fall in natural gas production to 219.66 billion cubic feet (Bcf).

The high liquids production was "underpinned by significant growth in Onshore U.S. volumes, primarily in the Black Hawk, and the start-up of a new production well at Atlantis (US) ... a significant increase in the number of producing wells in the liquids rich Eagle Ford contributed to a 29 percent increase in Onshore US liquids production from the June 2013 quarter," BHP said in a press release.

However, the company said scheduled maintenance and new well tie-ins at Pyrenees oil field in Australia are expected to impact conventional liquids production during the December 2013 quarter with the floating production storage and off-take (FPSO) facility offline for approximately one month. These additional production wells will mitigate natural field decline in the second half of the 2014 financial year.

On natural gas, the commencement of production at the Macedon project in Australia in August 2013 "only partially offset softer seasonal demand at Bass Strait and lower production at Haynesville (U.S.), following our deliberate decision to prioritize Onshore US development drilling in the liquids rich Black Hawk region of the Eagle Ford," BHP added.



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Petrofac Suspends Group Chief Operatin... (May 25)
 -  EnQuest On Track For Kraken First Oil ... (May 25)
 -  Energean Signs Lease Agreement for Exp... (May 25)
 -  Seadrill CEO Praises Workforce (May 24)
 -  Serinus Shuts-In Sabria Field Due to S... (May 23)


Most Popular Articles

From the Career Center
Jobs that may interest you
Field Specialist
Expertise: Field Development|Field Service Tech
Location: Dickinson, ND
 
Field Technician Intern
Expertise: Field Development
Location: Charlotte, NC
 
United States Rock Springs: Entry Level to Senior Field Engineer - Logging
Expertise: Petroleum Engineering
Location: Rock Springs, WY
 
search for more jobs

Brent Crude Oil : $51.46/BBL 4.63%
Light Crude Oil : $48.9/BBL 4.78%
Natural Gas : $3.18/MMBtu 0.90%
Updated in last 24 hours